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    N9.7 Billion Missing In Government Audit

    N9.7 Billion Naira Missing In Government Audit

    N9.7 Billion Missing In Government Audit

    The 2017 Federal Government Audit Report of the Federation has said 265 government agencies defaulted in their financial reports and had issues of irregular expenditures.

    The report, which is the latest National Audit record released by the Office of the Accountant-General of the Federation (OAuGF), evaluated the expenditures of the 265 agencies.

    These included the Ministry of Foreign Affairs, Abuja; Nigerian Ports Authority (NPA), the National Health Insurance Scheme (NHIS); Plateau and Imo State Universal Education Boards, and the University of Uyo (UNIUYO).

    Also, a civil society organisation, Paradigm Leadership Support Initiative, called for a probe of unaccounted funds in the agencies.

    It said the funds stood at N9.7 bilion for about 32 projects across 36 states and the Federal Capital Territory (FCT), Abuja.

    PLSI Executive Director Olusegun Elemo spoke at the unveiling of the organisation’s “Value for Money Handbook – Issue II”.

    He said the funds that were not unaccounted for showed “a recurring and flagrant disregard for public procurement act and financial regulations of Nigeria”.

    The activist noted that lack of accountability in the use of public funds was getting worse across the country.

    The Federal Government report reads: “Number of defaulting government agencies is 265 for financial reports up to December 31, 2017. A number of major weaknesses and lapses in the management of public funds and resources were identified across several Ministries, Departments and Agencies (MDAs) during the annual audit…”

    “Our findings range from irregular expenditures to failure to surrender surplus revenues to the treasury, all running into billions of naira. Overall, our findings are indicative of significant weaknesses in expenditure control, accounting, financial reporting and in the accuracy of the consolidated financial statements.”

    Elemo noted that the civil society would work with the National Assembly’s Public Accounts Committees and anti-corruption agencies to ensure that public funds were “adequately accounted for to improve service delivery to citizens”.

    He added: “According to the Federal Government report, 32 projects worth N17 billion meant for implementation in 17 states of the federation, including the Federal Capital Territory (FCT), were awarded to various contractors; about N9.7 billion is not accounted for.

    “Nigeria must commit to ensuring that public funds are not just spent but also properly accounted for. There are no jobs, no quality education or health care, no efficient transportation system, and all these and many other challenges are due to the lack of accountability in the utilisation of public resources.”

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