THE latest Auditor General’s Report for the financial year ended December 31, 2024, has revealed that the Ministry of Agriculture erroneously paid funds to Nyiombo Investments Limited, a company which was later liquidated, resulting in a loss of $3,659,192.39 to the Treasury. The report detailed that in 2016, the Ministry of Agriculture engaged Nyiombo Investments on a long standing fertilizer procurement contract worth $30,608,037.37. The report indicated that on September 23, 2016, Nyiombo Investments Limited formally notified both the Ministry of Agriculture and the Ministry of Finance and National Planning that it had assigned its rights and interests amounting to $3,659,192.39 under the contract to Swiss Singapore Overseas Enterprises PTE Limited (SSOEL). The report revealed that this notification obligated the...
