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

Highest Yields of 2026 Delivered in Q1 as 364-Day T-Bill Hits 18.47%

CBN’s 50% CRR Policy Costs Nigerian Banks N2.5 Trillion in Annual Earnings – Report

MTN Nigeria to Automatically Compensate Customers for Service Disruptions

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

DMO offers two FGN savings bonds at N1000 per unit.

Highest Yields of 2026 Delivered in Q1 as 364-Day T-Bill Hits 18.47%

by Victoria Attah
May 18, 2026
0

Nigeria’s fixed-income market offered some of the most attractive returns in recent years during the first quarter of 2026, before...

Liquidity Crunch: Banking Sector’s Borrowing from CBN Surges to N12 Trillion.

CBN’s 50% CRR Policy Costs Nigerian Banks N2.5 Trillion in Annual Earnings – Report

by Victoria Attah
May 18, 2026
0

Nigerian banks are losing approximately N2.5 trillion in potential earnings every year due to the Central Bank of Nigeria’s high...

BREAKING: MTN Nigeria gets NCC approval to lease spectrum from NTEL.

MTN Nigeria to Automatically Compensate Customers for Service Disruptions

by Victoria Attah
May 14, 2026
0

MTN Nigeria has pledged to compensate millions of subscribers affected by network outages between November 2025 and January 2026, following...

Nigeria’s Stock Market Records N1.81 Trillion Gain in July.

Equities Market Hits Fresh All-Time High as Bulls Maintain Dominance

by Jide Omodele
May 14, 2026
0

The Nigerian equities market continued its impressive run on Wednesday, setting a new record high as strong buying interest in...

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

DMO offers two FGN savings bonds at N1000 per unit.

Highest Yields of 2026 Delivered in Q1 as 364-Day T-Bill Hits 18.47%

May 18, 2026
Liquidity Crunch: Banking Sector’s Borrowing from CBN Surges to N12 Trillion.

CBN’s 50% CRR Policy Costs Nigerian Banks N2.5 Trillion in Annual Earnings – Report

May 18, 2026

Popular Story

  • Liquidity Crunch: Banking Sector’s Borrowing from CBN Surges to N12 Trillion.

    CBN’s 50% CRR Policy Costs Nigerian Banks N2.5 Trillion in Annual Earnings – Report

    0 shares
    Share 0 Tweet 0
  • Highest Yields of 2026 Delivered in Q1 as 364-Day T-Bill Hits 18.47%

    0 shares
    Share 0 Tweet 0
  • CBN Unveils Revised Foreign Exchange Manual, Set to Take Effect June 1

    0 shares
    Share 0 Tweet 0
  • Nigeria’s Inflation Edges Higher to 15.69% in April 2026

    0 shares
    Share 0 Tweet 0
  • Key Takeaway from the CBN’s Newly Introduced Customer due Diligence Rules.

    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}
?>