The Auditor-General for the Federation, Adolphus Aghughu, Wednesday said unsubstantiated balances amounting to N4.973 trillion were observed by his office in the audit carried out on the consolidated financial statement of the Federal Government in 2019.
He disclosed this while submitting the 2019 audit report to the Clerk to the National Assembly (CNA), Ojo Amos Olatunde, at the National Assembly complex, Abuja.
The Auditor-General said: “From the audit carried out on the 2019 Federal Government Consolidated Financial Statement, unsubstantiated balances amounting to N4.973trillion were observed.
“The N4.973 trillion unsubstantiated balances are above the materiality level of N89.34billion set for the audit.”
Aghughu told the CAN, who was represented by his Deputy, Barrister Bala Yabani, that auditing of consolidated financial statement of the Federal Government on yearly basis would be expeditiously carried out as soon as it is made available by the office of the Accountant-General of the Federation.
He however lamented that a myriad of factors were crippling operations of his office, giving room for all forms of financial infractions across various MDAs.
“One of such problems is the absence of Federal Audit Service Law, which is a big challenge as far as effective and efficient public sector auditing is concerned.
“This is a law that is needed as the basis of fiscal sustainability. The absence of it at the federal level is very worrisome going by the fact that some of the states of the federation have the required law in place.
“Another problem incapacitating optimal functionality of our mandate, as far as thorough and appropriate auditing of financial statements of the MDAs is concerned, is gross underfunding which is telling much on our efficiency.
“For example, the office is understaffed but there is no money for recruitment.
“Imagine many of our state offices having just two or three staff. Auditing is done by a team not by an individual.
“Accommodation is also part of the problem, as our staff in Lagos are about to be evicted from their office due to litigations.
“These are aside from the problem of insecurity, which is seriously affecting our scope of coverage,” he lamented.
The Deputy Clerk to the National Assembly, Barrister Bala Yabani, said the report would be submitted to the Clerk for onward submission to the presiding officers for the required legislative consideration.
He added that all the complaints made by the AGF would be tabled before the leadership of the National Assembly for required actions and solutions.
“Your complaints are very germane. They will surely be conveyed to the appropriate quarters that will surely do the needful on them, he said.
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