The House of Representatives Committee on Finance on Monday, has given the Industrial Training Fund (ITF), a 24-hour ultimatum to appear before it to account for over N3 billion missing funds which was allegedly traced to the account of the agency in the 2022 audited report of the Office of the Auditor General for the Federation.
The Committee, in continuation of its hearing on the Medium-Term Expenditure Framework and the Fiscal Strategy Paper, also warned the agency that if it failed to reconcile its account, it would have to refund the N3 billion to the Federal Government coffers.
During the hearing which had the Director of Finance and Accounts, Safiya Mansur of ITF, representing the agency, the Committee Chairman, James Faleke, queried the rationale behind the operating expenditure of N39.8bn in 2022 as against a total revenue of N45.1bn generated by ITF when it had only a staff strength of 2,691 nationwide.
