By Mercy Aikoye
The House of Representatives has identified weaknesses in Nigeria’s auditing and accounting systems as a major contributor to corruption in the country.
Chairman of the Public Accounts Committee, Hon. Bamidele Salam, emphasized that these weaknesses are depriving the government of much-needed revenue, hindering development and perpetuating corruption.
According to Hon. Salam, the committee has observed significant gaps in the auditing of major government agencies, with some not being audited properly in the last couple of years. This lack of oversight may promote impunity and corruption within these agencies.
The Auditor General’s office faces significant challenges, including underfunding and understaffing, which hinder its ability to effectively audit government agencies. Hon. Salam stressed that addressing these challenges is crucial to minimizing corruption in Nigeria.
To address these issues, the committee has called for increased funding and staffing of the Auditor General’s office. Salam believes that with adequate resources, the office can effectively prevent corruption rather than just fighting it after it occurs.
The poor implementation of the 2024 capital budget has also been criticized by Hon. Salam, who noted that it has negatively impacted the overall governance system and development projections in the country.
To improve revenue generation, Hon. Salam emphasized the need to block loopholes and reduce dependence on borrowing. He also encouraged the government to focus on revenue generation rather than relying on loans.
The Auditor General for the Federation, Shaakaa Kanyitor Chira, acknowledged the challenges facing his office and promised to address the backlog of annual reports. He committed to submitting the 2022 report by March and the consolidated financial report by February.
Salam also highlighted the importance of timely submission of annual reports, noting that Nigeria lags behind countries like Kenya in this regard. He emphasized the need for the Auditor General’s office to be more proactive in submitting these reports to ensure accountability and transparency.
