10 shocking revelations from Nigeria's auditor-general report

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.

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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.

Also from Business Insider Sub-Sahara Africa:

10 shocking revelations from Nigeria's auditor-general report

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