Nigeria: Senate Gives FIRS, 24 Others Ultimatum to Submit Audited Accounts

21 November 2019

Abuja — The Senate has accused the Central Bank of Nigeria (CBN); Federal Inland Revenue Service (FIRS); Federal Airports Authority of Nigeria (FAAN); and 22 other federal agencies of failing over the years to submit their audited reports to the legislative body.

It has therefore given the 25 affected federal parastatals one-week ultimatum for them to turn in their duly audited account statements.

Chairman of the Senate committee on Public Accounts, Senator Matthew Urhoghide, who spoke to reporters yesterday evening, warned the 25 agencies not to toy with the directive of the committee on the need for submission of their audited accounts encompassing their income and expenditure operations from 2017 to 2019.

He stressed that by the directive, the affected agencies were given the last opportunity to respond to the call for submission of their audited accounts.

"In view of the fact that some agencies have already defaulted in their submission deadline, notice is hereby issued to defaulting MDAs and other organisations of government, to without further delay, make submissions within seven days that is , November 27 , 2019 on their responses to the issues raised by the committee in its various correspondences regarding their income and expenditure operations from 2017 to 2019."

According to him, making public the accounts of the agencies is necessary in order to ensure accountability and transparency in the management of public funds as well as guarantee economy, efficiency and effectiveness.

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