RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Business

House of Representatives Says 65 Government Agencies Has Been Audited

Rate Captain by Rate Captain
August 31, 2021
in Business, News
Reading Time: 2 mins read
A A
0
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

AlsoRead

Petrol Climbs to N1,400 per Litre as Transport Fares Rise Across Nigeria

Cooking Gas Prices Drop Across Nigeria as Lagos Records Lowest Rate of N1,200 per kg

Depots Increase Petrol Prices to N1,230 per Litre Following Dangote Refinery’s Pricing Shift

The House of Representatives Public Accounts Committee has said that 65 agencies have never been audited since they were created.

Chairman of the committee, Oluwole Oke, said this at the opening of ‘National Workshop on Auditor-General’s Queries: The A-B-C of Responses, PAC Technology Innovations and MDAs’ Compliance’.

According to Oke, 12 Ministries, Departments and Agencies aside from the 65 agencies were not audited from 1993 to 2010.

He added that 76 MDAs failed to submit audited reports to the Auditor-General for the Federation in 2011, 85 did not submit in 2012, 109 did not in 2013, 148 did not in 2014, 215 did not submit in 2015, and 323 did not submit in 2016.

The workshop held in Lagos on Monday was organised by the House of Representatives Public Accounts Committee in partnership with the Office of the Accountant General of Federation and the Institute of Chartered Accountants of Nigeria.

Speaking through the deputy chairman of the committee, Abdullahi Abdulkadir, Oke said, “The 2016 report of the OAuGF threw up quite a number of intractable issues which then required a very careful scrutiny even with the previous years’ reports.

“Prominent among these issues were refusal by ministries, departments and agencies of government to render accounts of stewardship, and in many cases, these accounts were rendered very late.

“In addition to the above, 12 MDAs have never been audited from 1993 to 2010; and 65 Agencies have never been audited since they were created. This situation gave rise to the well-publicised and just concluded public hearing on this subject matter to which all of you were witnesses.”

He added that in the course of representation by various MDAs, his committee noticed acts of impunity by the MDAs, which included the manual dumping of huge volumes of documents at the secretariat some few days before hearing.

According to Oke, to address some of the issues, the PAC and all its interfacing stakeholders will no longer deal with hardcopy documents within its department and during the committee hearings. He also added that the defence of audit queries would now be electronically driven.

Abdulkadir said, “A number of agencies were found wanting in terms of rendition of audited accounts to the auditor general of the federation.

“Constitutionally, for ministries, departments and agencies, the auditor general of the federation works on their accounts.

“Sixty-five agencies have never been audited before. This is an issue that is still before the National Assembly. The names of the agencies will be made known to the public after or when the House starts to consider it.

“The contemporary rules we have, especially concerning financial regulations, specify certain penalties to these agencies.”

PAC Technical Adviser, Dr Greg Ezeilo, said over the years, most of the agencies had never been able to submit their accounts for audit.

He said, “Imagine a situation where over 65 agencies never ever made an account since they were created and they are still being funded by the federal government.”

He described it as a very sad situation

Previous Post

China Threatens to Ban E-Commerce Companies That Flout IP Laws

Next Post

NNPC Induce Petrol Subsidy Of N756.99bn in Less Than A Year

Related News

Fuel Subsidy Removal: Should Nigeria Continue With a Regressive Petrol Subsidy?

Petrol Climbs to N1,400 per Litre as Transport Fares Rise Across Nigeria

by Akpan Edidong
July 27, 2026
0

Petrol prices have surged to as high as N1,400 per litre in parts of Nigeria, prompting a fresh wave of...

Cooking Gas Prices Drop Across Nigeria as Lagos Records Lowest Rate of N1,200 per kg

by Akpan Edidong
July 27, 2026
0

Cooking gas prices have fallen significantly across Nigeria over the past three weeks, offering relief to households after recent highs....

Nigeria Expends More Than $1 Billion Subsidizing Fuel in August as Petrol Supply Increases

Depots Increase Petrol Prices to N1,230 per Litre Following Dangote Refinery’s Pricing Shift

by Akpan Edidong
July 21, 2026
0

Private fuel depot owners across Nigeria have raised the price of petrol to between N1,200 and N1,230 per litre after...

SEC encourages youth’s participation in capital market.

SEC Gives Capital Market Operators Two Days to Submit Capital Flows Returns

by Victoria Attah
July 10, 2026
0

The Securities and Exchange Commission (SEC) has issued an urgent directive to all capital market operators to submit their second-quarter...

Next Post

NNPC Induce Petrol Subsidy Of N756.99bn in Less Than A Year

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

CBN Allows Oil Companies to Resume Dollar Sales to Banks in Effort to Boost Supply.

Cash Outside Banks Falls by N486 Billion to Seven-Month Low

July 28, 2026
FG Secures $1.95 Billion in World Bank Loans Amidst Debt Concerns

Nigerian Issuers Pay Up to 20% to Raise Debt in First Half of 2026

July 28, 2026

Popular Story

  • CBN Allows Oil Companies to Resume Dollar Sales to Banks in Effort to Boost Supply.

    Cash Outside Banks Falls by N486 Billion to Seven-Month Low

    0 shares
    Share 0 Tweet 0
  • Nigeria’s FX Market Hits Record $4.4 Billion Weekly Turnover 

    0 shares
    Share 0 Tweet 0
  • Nigerian Issuers Pay Up to 20% to Raise Debt in First Half of 2026

    0 shares
    Share 0 Tweet 0
  • 31 Nigerian States Grapple with N2.57 Trillion Domestic Debt Amid No Foreign Inflows

    0 shares
    Share 0 Tweet 0
  • First HoldCo Assures Shareholders of Dividend Resumption by End of 2026

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>