The Bank of Industry has claimed that it disbursed N4.6 billion loans to beneficiaries within two years but there are no documents of collaterals, bank guarantee, or offer letters from the said individuals to show. The Auditor-General of the Federation’s report for 2018 stated that just one beneficiary, for instance, got N1.5 billion from the N4.6 billion disbursement and another individual got N1.
“Audit, however, noted that the following documents which are expected to be attached to the payment vouchers were unavailable: Particulars of the Collateral used as security Bank Guarantee Credit appraisal Offer Letter.“For example, a particular beneficiary received the sum of N1,500,000,000 vide payment voucher No. 100716, dated December 27, 2018 while another beneficiary received the sum of N1,105,000,000 vide Payment Voucher No.
Totally choking; the amount of mess Buhari has thrown Nigeria into. Also, he simply doesn't care to stem the slide. Almost as if he's on a mission to destroy.