Senate Uncovers Illegal Salary Hike at Minting Company
The Senate Public Accounts Committee recently discovered an unauthorized salary increase at the Nigerian Security Printing and Minting Company. Chairman Ahmed Wadada uncovered the issue during a session reviewing the 2019 Auditor General’s report.
The report showed that from 2016 to 2019, the company’s Board approved 14 billion naira in salary and allowance hikes without permission from the National Salaries, Wages and Incomes Commission. However, this regulatory body must advise on national pay policies under the NSIWC Act of 1990.
Initially, Managing Director Ahmed Halilu claimed the commission’s approval wasn’t needed as the company operates under the Companies and Allied Matters Act. Yet later, Halilu admitted the salary increases occurring over three years should have required NSIWC approval.
Most committee members expressed dissatisfaction with the illegal spending. Deputy Whip Nwebonyi Onyeka stated that public money was used without proper process. The misused funds, Onyeka explained, should be refunded.
In short, the Senate committee found the minting company improperly granted salary hikes totaling 14 billion naira without obtaining the necessary regulatory approval. Both the board and management have since acknowledged their non-compliance with the appropriate process.
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