How Oyetola’s Ministry Spent Over N600Million On Travel, Refreshments By Diverting Public Funds Into Private Accounts – Report

 

In what appears to be a blatant disregard for financial regulations, the Ministry of Marine and Blue Economy, under the leadership of Gboyega Oyetola, has been implicated in the diversion of over N600 million into private accounts within a four-month period.

An investigation into the ministry’s expenditures between July 26 and October 23, 2024, has unearthed alarming details of payments for travel, refreshments, and hall rentals, with funds channelled into the personal accounts of senior officials.

These revelations come amidst growing concerns about the financial recklessness of government institutions at a time when Nigerians are grappling with economic hardships.

According to documents reviewed on the federal payment portal, Govspend, the ministry expended N662 million on expenses described as estacodes, air tickets, honorariums, and “out-of-pocket expenses.”

On July 26, Olufemi Michael Oloruntola, the Secretary-General of the Ministry, received N7.3 million as “40% estacode supplementation” for a study tour to the Royal Kingdom of Morocco. Further analysis revealed that Oloruntola received a total of N76 million during the period under review, covering travel allowances and international trips.

Similarly, Sanya Sholabomi Abosede was credited with N10.4 million on the same date for another “40% estacode supplementation” tied to the Morocco study tour. Records show that Sanya’s personal account received a cumulative sum of N76.4 million between July and October.

In a further act of extravagance, the ministry paid N8.4 million into the account of one Nwoko Vincent on August 13, reportedly for hall rentals, refreshments, and honorariums.

The payments didn’t stop there. Abba Goni Yarema, another senior official, pocketed a staggering N186.5 million, described as covering “out-of-pocket expenses,” duty tour allowances, and hall rentals.

Even more troubling is the involvement of Hafeez Babatunde Bombata, the Director of Marine Safety and Security, who received N43 million for estacodes and air tickets for international meetings and study tours in Togo and Ghana.

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These payments highlight a glaring violation of Nigeria’s financial regulations. Chapter 7, Section 713 of the Financial Regulations (2009) expressly prohibits the payment of public funds into private accounts.

Despite this, the Ministry of Marine and Blue Economy operated with impunity, disbursing millions to individuals under questionable pretenses.

Observers have criticized the administration of Minister Gboyega Oyetola, accusing it of promoting wasteful spending at a time when President Bola Tinubu’s government has repeatedly called for a reduction in governance costs.