The House of Representatives Committee on Public Accounts has revealed that over 60 percent of Ministries, Departments, and Agencies (MDAs) in Nigeria consistently violate financial regulations, with more than ₦250 billion in public funds unaccounted for.
Chairman of the Committee, Hon. Bamidele Salam, disclosed this on Tuesday during a press briefing to announce the maiden National Conference on Public Accounts and Fiscal Governance.
Salam highlighted critical issues plaguing Nigeria’s fiscal governance, including widespread unauthorised virements, mounting audit queries, incomplete audit cycles, institutional financial leakages, opaque public financial reporting, and poor enforcement of financial protocols across all levels of government.
He emphasised that the conference presents a timely platform for high-level policy dialogue aimed at securing stakeholders’ commitment to ongoing fiscal reforms initiated by the Tinubu-led administration.
He said if Nigeria is to reap optimally the full benefits of the ongoing fiscal governance reforms initiated by the Tinubu-led administration, “we must seize the opportunity of this conference as a platform for high-level national policy dialogue for galvanization of stakeholders’ commitment.
“We strongly believe, as important stakeholders, that it is imperative for us to leverage the opportunity of this unique conference to deepen collaboration among Public Accounts Committees, especially at the sub-national levels, Audit Institutions, Regulatory Bodies, and Anti-Corruption Agencies”.
He said President Bola Ahmed Tinubu is expected to declare open the four-day conference, while Vice President Kashim Shettima and the Director General of the General Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA), Edwin W. Harris Jr., Director, are expected to speak at the conference.
He said that the conference represents a bold, deliberate, and strategic initiative by the Public Accounts Committee and the House of Representatives at large to reposition Nigeria’s fiscal governance and public accounts management systems towards greater integrity, enhanced efficiency, and robust accountability. It will also serve as a veritable platform to mainstream the Renewed Hope Agenda into global fiscal governance transparency structures to firmly reestablish Nigeria’s leadership both regionally and at a continental level.
Salam said that Nigeria stands at a critical juncture in its journey toward fiscal governance reforms, adding that some progress has been made over the years, and particularly the notable reforms under the current administration, entrenched systemic challenges remain.
He said further that the conference will serve as a prelude to the Annual Conference of the West African Association of Public Accounts Committees (WAPAC) later in the year, following Nigeria’s emergence as the winner of the hosting rights for the 2025 edition has been deliberately structured to deliver strong institutional value with special focus.
According to him, the conference is aimed at building institutional capacity and delivering targeted capacity development and skill-building sessions for Public Accounts Committees, Auditors, Financial Managers and Regulatory Officers across all tiers of government, with an emphasis on contemporary tools and practices for audit efficiency and oversight.
He said it will also facilitate knowledge exchange and create a participatory environment for dialogue and experience-sharing among national and international stakeholders on public sector audit reforms, accountability practices, and digital innovations in fiscal governance, while strengthening the audit implementation frameworks and examine the current institutional frameworks and technical bottlenecks limiting the implementation of audit recommendations, and recommend specific mechanisms for reform, enforcement, and institutional compliance.
The conference will also harmonize national and sub-national laws to align and standardize the laws, procedures, and operational guidelines of Public Accounts Committees (PACs) and other stakeholders in fiscal governance space across the national and sub-national levels for greater consistency and effectiveness in public financial oversight.
Salam said the conference will also foster broad stakeholder commitment to transparency and accountability by building consensus and shared responsibility among all actors in the fiscal governance space to uphold accountability, reduce leakages, and institutionalise sound public financial management practices.
He stressed that at the end of the conference, the committee expect a significant reduction in unaccounted expenditures from over ₦300 Billion to less than ₦1Billion in the next fiscal year 2026, a drop in the number of audit queries and rate of non-compliance with financial regulations from over 60% to less than double digit at 9% through rigorous capacity building development and a measurable significant improvement in Nigeria’s Fiscal Governance Health Index (FGHI) across all levels of government through enhanced transparency measures using digital technology tools for sustainable national development.
Responding to questions, Salam said ‘there is no doubt in the fact that as a country, we still have a long way to go in terms of deepening our fiscal governance systems and structures, and that is why almost all tiers of government, executive, legislative and the judiciary have at various points in time had to have interventions on issues coming out of mismanagement of public resources.
“When you have a country as large and as diverse as Nigeria, you have to put some things in place to ensure that you don’t allow people to commit infractions and get away with it because of the span of time it takes to track most of this expenditure. And one of the problems we have identified in the Public Accounts Committee is the fact that, for example, as we speak, the report we have before the National Assembly is the Auditor General’s report for 2021.
“In most cases, those who were alleged to have committed those infractions have retired, some have changed their office and job role, some have even gone to the world beyond. And so, when you sit down to consider most of these issues, it becomes a little bit tricky and difficult to get to the root of some of the matters, because those who are the present occupiers of the office at the moment have little or no information on those things that happened. We believe that one of the ways through which we can bridge this very, very huge gap is to call all stakeholders to attention and learn from what happens elsewhere.
“We have had a study tour of the Public Accounts Committee in Ghana. We had a study tour of the Public Accounts Committee in Nairobi, Kenya. We had a study tour of the Public Accounts Committee in Rwanda and in each of these jurisdictions, we have discovered that the centrality of the Supreme Audit Institution, which is the Auditor General for the Federation, is very, very key to whatever you want to do, especially in the line of prevention of most of this corruption and mismanagement of resources.
“But if that office itself is starved of resources or manpower, it will impact on its outputs. And don’t forget, it is that output of that committee that, by Sections 85 and 86 of the Constitution, is referred to the Public Accounts Committee.
“The challenge I would, however, want to give members of the media is this. We laid a report on the expenditure of the COVID-19 expenditure, over a trillion naira, for COVID-19. The Public Accounts Committee laid a report. And for the first time in the history of the Public Accounts Committee in this institution, that report was considered by the House in daylight. It’s never happened since 1999.
“That report was passed. Now, I think I want to challenge us to go into that report and see some of those recommendations and the punitive measures that have been recommended. As we speak, this committee has also laid three different reports before the House, which will equally be considered very soon.
“If you can track some of these things, you will see a lot of application of existing laws and regulations and the punitive measures already recommended. We don’t even need new measures. We have enough provisions in our existing regulations and laws to deal with these matters.
“We are in Parliament, we are not the executive. Ours is to consider the report, make the recommendations, and send them to the appropriate agencies of government for enforcement. We are not the executive arm of government.
“To the best of our ability, we have been doing that, and we will continue to do that as the Public Accounts Committee of the House. So it is obvious, if you ask whether one is happy, nobody is happy”.