A recent audit report has unveiled that the former Accountant General of the Federation unilaterally signed Nigeria’s 2019 financial statement, which amounted to N26 trillion.
This revelation was brought to light during the Senate Public Accounts Committee’s consideration of the audit report, chaired by Senator Ahmed Wadada.
In the 2019 audit report submitted to the National Assembly, the Auditor-General of the Federation highlighted that the former Accountant General had signed the financial statement without the counter-signing of the then Minister of Finance, a violation of financial regulations. The Auditor-General’s office referenced the relevant provisions of the Financial Regulations to substantiate this claim.
According to the Financial Regulations, Paragraph 103 designates the Minister of Finance as responsible for all financial government business, as assigned by the President of Nigeria. Additionally, Paragraph 105 empowers the Minister of Finance to issue financial regulations applicable to various government ministries, departments, and offices. In essence, the Minister of Finance is the key executive in government financial matters.
During the time the financial statement was signed, Ahmed Idris served as the Accountant General of the Federation. He was subsequently suspended from his role due to allegations of financial misconduct, amounting to N109 billion.
The audit report highlighted that the financial statement was signed by the Accountant General alone, without indicating his Financial Reporting Council of Nigeria (FRC) registration number, which is a critical component that requires the approval of the Consolidated Financial Statement (CFS). Contrary to regulations, there was no signature with the FRC of Nigeria registration number of the Minister of Finance, Budget, and National Planning on the Consolidated Statement of Financial Position.
The audit report attributed these discrepancies to weaknesses in the internal control system involved in the consolidation process.
Responding to the report, the acting Accountant General of the Federation, Toyin Madein, clarified that she was not the Accountant General at the time when the financial statement was signed.
