Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • Style Ratings For ETFs And Mutual Funds: Q4 2025
    • What Matters in Mutual Funds? Consistency or Returns?
    • How to invest in mutual funds  – Nairametrics
    • DIY investors push Fund of Funds into high demand
    • Asset manager PXN Investments launches
    • Health insurance funds and social security agency knew about fraud by home health nurse
    • Why some global ETFs are trading at premiums and how that affects investors
    • How To Sip Smarter This Holiday Season With Wellness-Friendly Drinks
    Facebook X (Twitter) Instagram
    Fund Focus News
    • Home
    • Bonds
    • ETFs
    • Funds
    • Investments
    • Mutual Funds
    • Property Investments
    • SIP
    Fund Focus News
    Home»Funds»Anti-Corruption Watchdog Files Complaint Over Mismanagement
    Funds

    Anti-Corruption Watchdog Files Complaint Over Mismanagement

    September 3, 2025


    Rabat — Morocco’s National Authority for the Protection of Public Assets and Transparency (INPBPTM) has filed a formal complaint at the Public Prosecutor’s Office in Rabat.

    The watchdog demands an investigation into suspected serious irregularities in managing projects under the National Human Development Initiative (INDH) in El Jadida province, in the Casablanca-Settat region.

    The non-governmental organization released a statement citing official reports from the General Inspection of Territorial Administration (IGAT), which operates under the Interior Ministry.

    The reports and related documentation reveal signs of public fund misappropriation and conflicts of interest linked to financial and administrative violations in several projects completed between 2019 and 2022.

    Missing millions raise red flags

    The allocated budget reached MAD 522.5 million ($57.44 million), but actual spending totaled only MAD 269.7 million ($29.65 million).

    Investigators suspect invoice falsification and found that one consulting firm dominated most project files.

    The authority uncovered multiple violations that paint a troubling picture of financial mismanagement.

    Officials granted 2 million ($220,123) to an association for a project that did not qualify for funding and never received approval from the relevant committee. Authorities used INDH funds to cover personal expenses, violating public spending rules.

    Meanwhile, twelve funded projects remain blocked due to missing land or technical studies. Officials funded cooperatives and associations that do not comply with legal requirements. The investigation revealed “ghost projects” that exist only on paper.

    The authority described these irregularities as “serious violations of public accounting rules and monitoring and evaluation procedures.”

    Call for justice

    The INPBPTM urges judicial authorities to conduct a thorough investigation to determine responsibility and punish those allegedly involved in the misconduct.

    The case signals ongoing challenges in Morocco’s efforts to ensure transparency and accountability in public spending on development projects.

    The National Human Development Initiative, launched in 2005, represents one of Morocco’s flagship social development programs aimed at reducing poverty and improving living conditions in rural and urban areas.

    This investigation raises questions about oversight mechanisms and the effectiveness of controls designed to prevent such violations.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email

    Related Posts

    How to invest in mutual funds  – Nairametrics

    November 19, 2025

    Health insurance funds and social security agency knew about fraud by home health nurse

    November 19, 2025

    Hedge funds’ bets on Argentina pay off after US bailout

    November 18, 2025
    Leave A Reply Cancel Reply

    Top Posts

    How to invest in mutual funds  – Nairametrics

    November 19, 2025

    The Shifting Landscape of Art Investment and the Rise of Accessibility: The London Art Exchange

    September 11, 2023

    Charlie Cobham: The Art Broker Extraordinaire Maximizing Returns for High Net Worth Clients

    February 12, 2024

    The Unyielding Resilience of the Art Market: A Historical and Contemporary Perspective

    November 19, 2023
    Don't Miss
    Mutual Funds

    Style Ratings For ETFs And Mutual Funds: Q4 2025

    November 19, 2025

    This article was written byFollowWith AI-driven Robo-Analyst technology, we help investors make smarter decisions based…

    What Matters in Mutual Funds? Consistency or Returns?

    November 19, 2025

    How to invest in mutual funds  – Nairametrics

    November 19, 2025

    DIY investors push Fund of Funds into high demand

    November 19, 2025
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    EDITOR'S PICK

    Too many funds, too little growth: How over diversification of portfolio can quietly kill your wealth 

    November 15, 2025

    Notice To Customers of Rajesh Markan Who Had Their Funds Misappropriated

    October 29, 2024

    Asheville asks: What is a General Obligation (GO) Bond?

    July 23, 2024
    Our Picks

    Style Ratings For ETFs And Mutual Funds: Q4 2025

    November 19, 2025

    What Matters in Mutual Funds? Consistency or Returns?

    November 19, 2025

    How to invest in mutual funds  – Nairametrics

    November 19, 2025
    Most Popular

    🔥Juve target Chukwuemeka, Inter raise funds, Elmas bid in play 🤑

    August 20, 2025

    💵 Libra responds after Flamengo takes legal action and ‘freezes’ funds

    September 26, 2025

    ₹10,000 monthly SIP in this mutual fund has grown to ₹1.52 crore in 22 years

    September 17, 2025
    © 2025 Fund Focus News
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.