The farewell event was held on September 6, 2024, at the Transcorp Hilton Hotel in Abuja. The substantial amount of N55 million was paid to an individual, Unoh Omolara, which is unusual for public fund disbursement.
This transaction potentially violates Nigeria’s Financial Regulations (2009), which explicitly prohibit the deposit of public funds into personal accounts, as outlined in Chapter Seven, Section 713.
Despite the potential breach, the Ministry of Finance acknowledged the event on its website, praising Mr. Ekanem for his service.
The lavish spending has been met with criticism, especially given the economic challenges facing Nigeria. Many argue that such funds could be better allocated to pressing public needs.
The N55 million spent on the party is nearly double the budget allocated for installing 28 boreholes in Jigawa State, a project aimed at improving access to clean water in rural areas. This comparison highlights the opportunity cost of the expenditure, emphasizing the potential impact of reallocating funds to essential infrastructure.
This incident has intensified demands for greater transparency and accountability in government spending. Public scrutiny is particularly focused on ensuring adherence to financial regulations and prioritizing expenditures that directly benefit citizens.
Given the violation of financial regulations, there may be calls for an investigation into the transaction, including the process by which funds were allocated and disbursed. This could lead to reforms in financial governance within government ministries.
This expenditure occurs amidst an economic environment where the government is expected to be prudent with public finances due to fiscal constraints and the need for economic recovery strategies.
