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Audit Report Exposes Over N284bn Unapproved Spending By 256 MDAs
Audit Report Exposes Over N284bn Unapproved Spending By 256 MDAs....KINDLY READ THE FULL STORY HERE▶
The Office of the Auditor General of the Federation (OAuGF) has uncovered a significant breach of regulations, with approximately 256 Ministries, Departments, and Agencies (MDAs) of the Federal Government found to have violated laws and expended funds amounting to over N284 billion without proper approval in 2020………CONTINUE READING
This revelation was disclosed in the latest 2020 Audited Report on government finances submitted to the National Assembly by the OAuGF, shedding light on extensive financial mismanagement and unauthorized expenditures within various government entities.
According to the report, the MDAs, including prominent entities like the Office of the Surveyor-General of the Federation and the Airforce Institute of Technology, engaged in extra-budgetary spending, contravening legal provisions and financial regulations.
The submission of the audit report, though delayed beyond the constitutional deadline, emphasized the urgent need for transparency and accountability in government financial operations.
The report highlighted discrepancies such as unremitted revenues, unbudgeted expenditures, and lack of proper documentation for supplementary appropriations or approved virements, raising concerns about internal controls and fiscal discipline within the implicated MDAs.
Furthermore, the audit revealed instances where MDAs exceeded budgetary allocations for overhead expenses and personnel costs, with insufficient disclosure regarding the authorization of such expenditures.
The report’s findings underscore the imperative for robust budgetary and accounting systems to enhance internal control, accountability, and transparency within government agencies.
The OAuGF’s report serves as a wake-up call, urging authorities to enforce compliance with financial regulations and ensure proper utilization of public funds to foster fiscal responsibility and efficient resource management.
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