National Automotive Systems and Engineering Industries (NASENI) has officially denied allegations of financial impropriety regarding a N10.6 billion mobilisation payment made to a contractor. The state-owned enterprise stated that the disbursement was fully compliant with the provisions of the Public Procurement Act.
The company issued the clarification in response to circulating reports suggesting that the large-scale payment to the firm was irregular. NASENI maintained that the transaction followed standard legal and procedural frameworks governing public sector contracts in Nigeria.
By citing the Public Procurement Act, NASENI emphasized that the mobilisation payment was a legitimate step in the contractual process. The firm asserted that the funds were released in accordance with established regulations designed to oversee government spending and procurement activities.
The denial serves to address public concerns over the transparency of the transaction. NASENI’s position indicates that the payment was not an exception to the rule, but rather a standard operational requirement under the current legal regime for public works and services.
As a key entity in Nigeria’s industrial sector, NASENI’s financial dealings are often subject to scrutiny. The company’s insistence on legal compliance aims to reinforce confidence in its operational integrity and adherence to national procurement standards.
<small>Source: Punch Nigeria — read the original story there.</small>