FG Audits 33 Agencies Over Missing N450b


Following the N450billion Nnaira that has been missing from the national purse, the ministry of finance has made a move to investigate and audit the financial records of 33 government agencies.

The Nigerian Communications Commission [NCC], Nigerian Ports Authority [NPA] and Corporate Affairs Commission [CAC] are on the top of the list of 33 agencies to be audited by the Federal government.

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According to the Finance Minister, Kemi Adeosun, the agencies have been audited by the Federal Government which is set to recover about N450 billion operating surpluses that were not returned from these agencies from 2010 to 2015.

The minister also stated that other agencies that have been listed for probe after the audit include the Nigerian Maritime Administration and Safety Agency (NIMASA), Nigerian Export-Import Bank, Federal Airports Authority of Nigeria [FAAN], National Open University of Nigeria, [NOUN] Nigerian Railway Corporation, West African Examination Council [WAEC], Joint Administrations and Matriculation Board and the National Hospital, Abuja.

She revealed that a committee headed by the accountant-general of the federation (AGF) had been set up to recover the money from the agencies after they had been audited.

“We know that in some cases that money would have already been spent so they will now give us a proposal of how they are going to repay but the money has to be paid,” she said.
“We are also looking at their Treasury Single Account (TSA) to understand how much money they actually have because in some cases these surpluses are in their accounts.
“Our plan is not to grind to a halt the activities of any agency but to institute fiscal discipline in all the agencies,” she said.

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Meanwhile, some of the agencies have already started paying back some of the funds in their possession.