The Public Accounts Committee of the Senate has stated that it has commenced a full-scale probe into the federation account from 2015.
The Senate made this known while revealing that it had not carried out an audit of the Federation account since the Buhari-led administration assumed power in 2015; hence,
Responding to questions during an interview with ‘Punch’, the Chairman of SPAC, Senator Mathew Urhoghide, said: “We have discovered that the ministries, departments and agencies of government spend money that was not appropriated.”
He revealed that his committee decided to find out if the money spent was provided for by the Appropriation Act. “We discovered that some of the MDAs are guilty of this. These are mind-boggling figures, running into trillions of naira,” he added.
He further revealed that the committee has finished assets and liabilities, and is ready to probe the federation account.
He noted that all payments made into the federation account from 2015 till date, will be scrutinized.
He said, “We will find out who brought what and who took what. We will scrutinize the accounts of the NNPC, customs, FIRS and the Central Bank of Nigeria.”
Meanwhile, he revealed that invitations have been sent out to the MDAs and “We will clear all the issues regarding revenue generation and expenditure before the budget for 2021.”
He further added that “We will clear the backlog from 2015 to 2019. It is a shame as a nation that we keep budgeting money for MDAs without proper auditing of accounts.”
According to him, the committee will be able to assess its performance only when it had sent its discovery to the president through the National Assembly leadership that we will know that we are doing the right thing.
This, he hoped will be accomplished in the next six months. He noted that as stipulated in the Establishment Act, the committee is supposed to audit their accounts six months into the new fiscal year.
He said, “It is not good to have budget without auditing the accounts of the MDAs." However, it has earmarked May 31st May 2020 for the completion of the account audit.