FG loses N557bn to lack of adequate audit in 5yrs — Report | Dailytrust

FG loses N557bn to lack of adequate audit in 5yrs — Report

A report by Paradigm Leadership Support Initiative shows the Federal Government lost N557bn from 2013 to 2017 owing to lack of adequate audit mechanism. 

The organization said this in a research report titled ‘Achieving Accountability and Development in Nigeria’ presented by its Executive Director, Olusegun Elemo, weekend in Abuja. 

He said: “This report examined compliance of federal ministries, departments, and agencies of government in Nigeria with the Public Procurement Act, Financial Regulations, and other relevant laws over a five-year period to ascertain the level of waste and inefficiency in the utilization of public funds and the consequent impact on Nigeria’s development.”

Dear Reader,
Every day, we work hard to provide readers such as you with the most accurate, up-to-date, and comprehensive information. Quality journalism costs money. Today, we're asking that you support us to do more. Your support means that Daily Trust can keep offering journalism to everyone in the world. Donate or sign up for as little as N1,000 to become a member. Learn more about our membership here

Bank transfers can be made to:
Media Trust Ltd

Email: membership@dailytrust.com
Whatsapp: +234 806 990 3410