10 SHOCKING REVELATIONS FROM NIGERIA'S AUDITOR-GENERAL REPORT

Politics

10 shocking revelations from Nigeria's auditor-general report

Aderemi Ojekunle | 18:03 | 25.07.2018

The Auditor said the non-disclosure and non-remittance of revenues by some agencies have become a critical factor militating against the economy.


65 government agencies have never submitted their accounts for audit.

No record of oil revenue for some period and no explanation was provided for such action.

Anthony Ayine said the non-disclosure and non-remittance of revenues by some agencies of government into its coffers have become a critical factor militating against the economy.

Auditor-General of the Federation, Anthony Ayine, has faulted the 2016 Financial Statement of the Federal Government as having several undisclosed revenues and poorly disclosed expenditures and lack of accountability from government agencies.

In a 743-page, 2016 Audited Annual Report of Federal Government of Nigeria financial statement, seen by Business Insider Sub-Saharan Africa, the Auditor-General for the Federation (AuGF) said the several lapses from government agencies is a major setback to the country's accountability process.

In the report, submitted to the National Assembly, the AuGF expressed disappointment at the shoddy job by Accountant-General of the Federation, AGF, Ahmed Idris, which led to the late submission of the report to the National Assembly.

According to him, the non-disclosure and non-remittance of revenues by some agencies of government into its coffers have become a critical factor militating against the economy.

Here are some of the shocking revelations from the report:

1. The Nigerian government diverted N28 billion from the Ecological Fund in 2016.

2. Some agencies are not complying with financial regulations for audit purposes.

3. 65 government agencies have never submitted their accounts for audit.

4. Only 51 audited financial statements for 2016 and 149 for 2016 despite the provision of Financial Regulation 3210(v) which enjoins the chief executive officers of these bodies to submit both the audited accounts and management report not later than May 31 of the following year of account.

5. As at April 2018, 109 agencies have not submitted beyond 2013.

6. 76 agencies last submitted for the 2010 financial year.

7. The Auditor general said ministries, departments and agencies (MDAs) and their accounting officers are reverting to the situation in the past where they did not promptly respond to audit observations.

8. The audit report cited discrepancy in the over-payment of the Department of Petroleum Resources ( DPR) and the Federal Inland Revenue Service ( FIRS) in August 2016 in the amounts of N305,922,200.48 and N531,160,436.78 respectively totalling N837,082,637.24.

9. Joint venture (JV) cash calls (funds injected into JVs by the NNPC on behalf of the Federation could not be accounted for in the books of the accountant general and the Federation Account Allocation Committee (FAAC).

10. NNPC  returned marginal sum from the Export of Crude Oil and Gas revenue inflows to the Federation Account for January to December 2016 in respect of Sales of crude oil and gas and payment of JV Cash Call funding.

No record of oil revenue for some period and no explanation was provided for such action.

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the illegality(ies) going on in government agencies are too much...

You go bow for this government with their atrocities when they eventually pave way to another government

No record of oil revenue for some period and no explanation was provided for such action

No wonder Yusuf Buhari is spending millions buying expensive okadas.

Do we even have a president...

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This is massive corruption!

I have been saying this, the magnitude of corruption going on in this administration has never happened before in the entire history of our nation.
Just wait until another party ascend to power and reveal this to the public.
No matter how smart in looting this government is, some of their actions can not be concealed completely.