[size=14pt]374 govt agencies unaudited since 1999[/size]

AHEAD of fiscal 2012, the Executive and Legislative arms of government are tightening all loose ends to ensure smooth passage of next year’s Appropriation Bill and reduce waste in the public sector.

The Senate, which has pledged to reduce the yearly friction between the Executive and the National Assembly, has mandated its Committee on Appropriation to do all that is needed to achieve prompt passage of the income and expenditure document.

The House of Representatives, which has however expressed concern over the declining impact of the Nigeria’s audit system on Ministries, Departments and Agencies (MDAs) has charged the Auditor-General of the Federation, Mr. Samuel Okura, and the Accountant-General of the Federation, Mr. Jonah Ogunniyi Otunla, to effect necessary changes in their operations to reverse the trend and avert the monumental increase in corruption that could result from such audit failures. The Bureau of Public Procurement (BPP), which is fighting corruption in the federal bureaucracy, has said it had saved N333.87 billion from wasteful spending brought about by over invoicing by contractors in collusion with public servants in six years. .

Its Director-General, Emeka Eze, said the growing nature of greed and dishonesty amongst public servants who are failing to the temptations of contractors should be checked. .

He said the agency’s review of procurement processing between 2004 and 2010 had saved the nation huge amount of public funds.

http://www.ngrguardiannews.com/index.php?option=com_content&view=article&id=64590:-374-govt-agencies-unaudited-since-1999&catid=1:national&Itemid=559

If they are unaudited, how were they balancing their annual budget?.