Somalia Parliamentary Committee on Finance and Budget has released a new report alleging mismanagement of funds at the Ministry of Finance, Muqdisho Online reports.
In the report which Muqdisho Online is privy to the overaight committee alleges that more than $42M are unaccounted for raising red flags of a major scandal at the Ministry headed by Minister Abdirahman Beilleh.
Of the funds unaccounted for is $20 million part of $50 million budgetary support from Saudi Arabia granted to the Somalia government in the year 2017.
According to the report the funds have not been indicated in the 2018 budget.
$6M is reported to have been withdrawn from the Somalia Central Bank by a local government committee with no full report by the Ministry on how it was spent.
The report farther claimed that local government employees are illegally deducted 30% from their salary.
The Banaadir Region Administration has been put on notice to explain how $16.5 million it received between January and June 2018 was spent.
The committee reports that there is no documentation on the expenditure of the funds by BRA.
In the report BRA has been accused of missapropriation of funds and lucking an annual expenditure plan.
The Committee farther accuses Minstry of Finance of failing to collect taxes from banks and the hawala remittance companies.
The report alleges that $1.5m allocated for humanitarian emergencies including floods and drought was diverted to cater for foreign and local trips and hotel accommodations.
The committee has ordered the Ministry of Finance to give a full report about the whereabouts of the funds.