FG To Appoint Foreign Firms To Audit Revenue Generating Agencies

By Chibuzor Emejor, Abuja

In a bid to promote accountability and transparency in the government accounting system, the Federal Government said it would appoint two reputable international agencies to carry out forensic audit of accounts of all revenue generating agencies in the country

State Governor, Adams Oshiomhole

State Governor, Adams Oshiomhole

Governor of Edo State, Adams Oshimole disclosed this after a meeting his committee held with some revenue generating agencies of government.

It would be recalled that after the recent National Executive Council meeting in Abuja, four governors were selected to investigate the financial accounts of NNPC.

On Thursday in Abuja, Oshomole together with the Governors of Kaduna State, Nasir El-rufia, Gombe State, Ibrahim Dakwambo, and Emmanuel Udom of Akwa Ibom met with officials of the Nigerian Customs, Securities and Exchange Commission, Central Bank of Nigeria, Revenue and Mobilisation Allocation Federation Commission, Federal Ministry of Finance, Nigerian Ports Authority, Office of the Accountant General of the Federation, NEITI, among others.

Oshiomole explained that the Committee has begun investigations to unravel how revenues generated by these agencies are spent, adding that the task of the Committee was very enormous to undertake.

According to him: “Given our mandate, we have agreed to appoint two reputable international firms to carry out a thorough forensic audit,  not only of NNPC, but  also of other agencies generating the monies that are accrued to the Federation account.

“Although people talk about excess crude account, but have other revenues like bonuses, royalties, taxes, that part of it also flows into Federation Account which form part of the budget of the National Assembly.

“So we are taking a holistic review of the entire revenue generating agencies that make contributions into Federation Account.

“So we are convinced that by appointing audit firms, we will allow professionals to carry out the exercise which will be free from political connection.

“We are sure that the outcome of the investigation will command the trust and confidence of all the stakeholders.”

Oshimole who spoke on behalf of other Governors said it was not going to be business as usual, adding that the laws as they apply to various institutions must be applied in full.

He further revealed that the audit of the accounts of these agencies would start from January 1, 2010 to June 30, 2015.

He however pointed out that if the audit reports recommend that the government should further carry out the investigations, that such would be done.

He pointed out that all the books of these agencies would be opened in line with the present administration’s mantra of transparency and accountability, noting that no agency of government would have any protection not be investigated.

On the names of the two audit firms to carry out the forensic audit, the Governor of Edo State, said their names would be made public on Thursday next week during the meeting of the Committee with other agencies of government such as Nigeria National Petroleum Corporation, DPR, NIMASA, among others.

Oshimole, however, assured that Nigeria would be better for it at the end of the day, as the Committee would carry out a thorough job.

Source : Independent

Tags: No tags

Comments are closed.