The Auditor General of the Federation, AGF, Adolphus Aghughu, has revealed that an unsubstantiated 4.97 trillion naira was discovered in the Federation’s 2019 consolidated financial statement for the year ended 31st December 2019.
Presenting the report to the clerk of the National Assembly, Ojo Amos Olatunde, on Wednesday, the AGF says the 4.97 trillion naira is above the materiality level of 89.34 billion Naira set for the audit.
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The AGF said the absence of a federal audit service legal framework has been a major hindrance to achieving a harmonized method of auditing state and Federal Government financial records which is present in some states of the Federation.
According to him, the office of the AGF is grossly underfunded and has put a stop to the recruitment of more staff, which poses a major challenge to effective service delivery in the fight against corruption.
“Imagine many of our state offices, having just two or three staff, Auditing is done by a team not by an individual.
“Our staff in Lagos are about to be evicted from their office due to court litigations. “
In his remarks, the Deputy Clerk to the National Assembly, Barrister Bala Yabani, representing the clerk said the report presented will be submitted to the Clerk which will be transmitted to the leadership of both houses of assembly for appropriate legislative consideration.
The report is coming five months after the 2018 financial report was submitted to the National Assembly.
The AGF in its 2015 financial records had indicted 59 Ministries, Departments, and Agencies, of government for mismanagement of over 300 billion Naira unremitted funds to the Federation Account.
(Editor: Nkoli Omhoudu)
