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Senate demands audited accounts from NAIC


The Senate Committee on Finance has requested the Nigerian Agricultural Insurance Corporation to provide detailed audited accounts covering the years 2021 and 2022, along with the first three quarters of 2023. 

The Committee made this demand during a meeting with NAIC’s Managing Director/CEO, Mrs. Folashade.

During the presentation of the Corporation’s 2024 Revenue, Overhead, and Capital Projections, Mrs. Folashade informed the Committee, chaired by Senator representing Niger East, Sani Musa, that NAIC had remitted N3,847,202,032.03 to the Consolidated Revenue Fund of the federal government in 2023.

However, she later contradicted herself by acknowledging that NAIC had incurred significant losses in 2022.

Unimpressed by the agency’s performance, Senator Musa asserted that the Committee was determined to identify and address all financial leakages.

For far too long, the finances of MDAs have been managed as personal property. We are committed to making a change,” Senator Musa stated.

We intend to ensure that the right actions are taken and that this government delivers on its promise to provide Nigerians with the dividends of democracy.


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