Emmanuel Ukudolo I Thursday, Oct. 24, 2023
LAGOS, Nigeria – On Thursday, October 23, 2023, former ICAN President Ismaila Muhammadu Zakari proposed a constitutional amendment to compel the President to present annual audited accounts before the National Assembly, mirroring the legislative approval process for the budget.
The audited account, which reflects the budget management, is prepared by the Accountant General of the Federation and validated by the Auditor-General before submission to the National Assembly, as per the existing constitutional provision.
Zakari emphasized the importance of this change, highlighting that it would enhance accountability.
Notably, the Federal Government has not produced audited accounts since 2019, a period during which there was no appointed Auditor General.
In response to this issue, President Bola Tinubu has nominated Mr. Shaakaa Chira to serve as the Auditor-General of the Federation, with the nomination pending confirmation by the National Assembly.
The Senate Committee on Public Accounts typically conducts the confirmation process, assessing the nominee’s qualifications, experience, background, and potential conflicts of interest.
It’s worth noting that former President Muhammadu Buhari did not nominate a replacement Auditor-General since 2019, despite the 2019 audited statement indicting the Federal Government on various counts.
At the Audit Reporting Workshop organized by the non-profit NGO FrontFoot Media Initiative, financial expert and CEO of The CFG Advisory, Mr. Tilewa Adebajo, emphasized the significance of the audit report, stating, “The budget is only a projection, the audited account is the reality.”
The 2019 Federal Government Audit Report revealed several irregularities and shortcomings, including unapproved payments exceeding N200 billion, missing funds of over N100 billion, and weak internal controls, making fraud prevention and detection challenging.
The report also highlighted weaknesses in revenue collection efforts, excessive expenditure on non-essential items, and a rapidly rising debt stock. Recommendations included expanding the tax base, streamlining tax administration, reducing non-essential expenditures, and developing a comprehensive debt management strategy.
The Audit Reporting Workshop took place at the GulfView Conference Center and Suites in Ikeja GRA, Lagos, as the fourth event in its series, following workshops in Benin, Awka, and Abuja.
Emeka Izeze, director and partner, confirmed that the Audit Reporting Training: X-Raying State Government Audit Reports is a flagship capacity development program organized by the FrontFoot Media Initiative, conducted under the auspices of the Wole Soyinka Center for Investigative Journalism and sponsored by the MacArthur Foundation.
