Findings has suggested that a former Accountant General of the Federation unilaterally signed the Federal Government’s financial statement for 2019, amounting to a substantial N26 trillion.
According to The PUNCH, this disclosure occurred during the deliberation of the audit report in the National Assembly.
The audit report presented to the Senate Public Accounts Committee, was chaired by Senator Ahmed Wadada.
The report, submitted in 2019 by the Auditor-General of the Federation, pointed out that the then Accountant General had affixed his signature to the financial statement without the necessary counter-signature by the then Minister of Finance.
This act was found to be in contravention of established financial regulations, as highlighted by the office of the Auditor-General.
The specific provisions cited from the Financial Regulations to support this assertion include Paragraph 103, which designates the responsibility for all financial matters of the government of the federation to the Minister of Finance on behalf of the President of the Federal Republic of Nigeria.
Additionally, Paragraph 105 empowers the Minister of Finance to periodically issue financial regulations with general application to ministries, extra-ministerial offices, and other government arms.
Consequently, the Minister of Finance in Nigeria is the recognized Chief Executive Officer for government financial matters.
At the time of this revelation, the Accountant-General of the Federation was Ahmed Idris, who had been suspended from office due to allegations of financial impropriety involving a substantial N109 billion.
The audit report further pinpointed anomalies in the process, specifically noting that the Accountant General had failed to include his Financial Reporting Council of Nigeria registration number when signing the consolidated statement of financial position.
Additionally, it was observed that the Honorable Minister of Finance, Budget, and National Planning’s signature was absent, along with the FRC of Nigeria registration number, on the Consolidated Statement of Financial Position.
These discrepancies were attributed to weaknesses in the internal control system throughout the consolidation process.
In response to the audit report, the acting Accountant General of the Federation, Toyin Madein, clarified that she was not in office at the time when the financial statement was signed.
This revelation underscores the importance of adhering to financial regulations and maintaining transparency in government financial matters.
