Home Exclusive EXCLUSIVE: Despite Paying Election Observers $6.2m, CBN Owing Over ₦200M For Diesel
ExclusiveNews

EXCLUSIVE: Despite Paying Election Observers $6.2m, CBN Owing Over ₦200M For Diesel

1.1k
Despite Paying Election Observers $6.2m, CBN Owes Facility Managers Over ₦200M

Despite finding the sum of $6.2m to pay election observers in 2023, the Central Bank of Nigeria (CBN) owes the contractor that manages its own facility sites for several months of work. Whistleblowers speaking exclusively to West Africa Weekly have revealed that Total Facilities Managers has been owed over N200M for diesel supply for over 8 months.

It will be recalled that Total Facilities Management (TFM) was onboarded with the CBN in 2013 after the apex published a public tender for the purpose of outsourcing and hiring “desirous and pre-qualified” facility management services to cater to its engineering, environmental, and building maintenance services at some of its business locations across 36 states of Nigeria.

TFM Definition
Credit Source: RFM Group

TFM claims that it is being owed across all 36 states of the federation – a situation that it says led to the decision to write the CBN’s Corporate Services Directorate in January 2024 to complain about the non-compliance to the service level agreement.

TFM Signed Petition

Speaking to West Africa Weekly, the whistleblower revealed that the company is currently on the verge of downing tools altogether – a scenario that could lead to farcical disruption in the Nigerian financial system when the CBN is unable to carry out basic everyday functions due to lack of electricity. Needless to say, this would also have significant national security implications.

The story will be updated as the situation develops.

Read: A Closer Look At Africa’s Top Award-Winning Artists

About The Author

Written by
Mayowa Durosinmi

M. Durosinmi is a West Africa Weekly investigative reporter covering Politics, Human Rights, Health, and Security in West Africa and the Sahel Region

Related Articles

NewsTravel

Chad Suspends Visas for US Citizens in Response to Trump’s Recent Travel Ban

Chad has announced the suspension of visa issuance to United States citizens,...

FinanceNews

Ghana Places Former Finance Minister Ofori-Atta on INTERPOL Red Notice

Interpol has issued a Red Notice for Ghana’s former finance minister, Ken...

Seyi Tinubu flying presidential jet
News

Tinubu’s Silence on Son’s Use of Presidential Jet Draws Contrast with Mongolian PM’s Resignation

President Bola Tinubu has been criticised over the apparent misuse of state...

Umo Join APC
NewsPolitics

Akwa Ibom Governor Eno Dumps PDP Following West Africa Weekly’s Report

Governor Umo Eno of Akwa Ibom State has officially dumped the Peoples...