An audit report has indicted the Small and Medium Enterprises Development Agency of Nigeria for procurement violations and unretired cash advances involving over N1.97 billion in 2023. The report revealed that N440 million in contracts were awarded to Microfinance Banks for grant disbursement under the One Local Government One Product programme, which auditors rejected as improper. Additionally, N346,581,300 in cash advances granted to officers remained unretired, contrary to financial regulations. The auditors recommended that the director-general account for the funds and recover them.
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