Reps Direct Accountant-General, Auditor-General to Produce Four-year FG’s Accounts

• Probe N9.8bn GIFMIS payment

Juliet Akoje in Abuja

The House of Representatives Public Accounts Committee has instructed the Office of the Accountant-General of the Federation and the Office of the Auditor-General for the Federation to compile and submit the federal government’s consolidated financial statements and audited accounts for 2023, 2024 and 2025 before October 2026.

The decision followed an investigative session involving both the Accountant-General and the Auditor-General, where lawmakers reviewed delays in financial reporting and raised concerns about weaknesses in public financial management systems.

The Committee also raised queries over the payment of N9.8 billion made in 2024 to vendors handling the Government Integrated Financial Management Information System (GIFMIS), observing that the platform has not yet fulfilled its primary responsibility of ensuring accurate and prompt reconciliation of government accounts.

Speaking during the session, the Committee Chairman, Bamidele Salam, voiced strong displeasure over the Accountant-General’s failure to meet statutory obligations for financial reporting.

He pointed out that the Fiscal Responsibility Act requires the federal government to publish audited and consolidated financial statements within six months after the end of each financial year.

Salam described the recurring delays in releasing audited accounts as unacceptable, cautioning that such shortcomings weaken fiscal discipline, erode institutional credibility and discourage investor confidence.

He further observed that Nigeria, despite ranking as Africa’s largest economy, still falls short in meeting acceptable public financial reporting standards, a situation that hampers its ability to attract foreign investment and obtain support from international development partners who depend on timely and reliable financial data.

Presenting the Accountant-General’s position, Mr. Shaibu Sikiru, Acting Director of Consolidated Accounts, blamed the delays on several operational setbacks.

These included the inability of the Central Bank of Nigeria to supply complete bank statements for Ministries, Departments and Agencies, as well as technical and operational challenges linked to the GIFMIS platform.

He revealed that the last full reconciliation of government accounts took place in 2022, even though contracts with GIFMIS service providers had been renewed to improve system performance and enable accurate financial consolidation.

Committee members nonetheless questioned the rationale for paying N9.8 billion to GIFMIS vendors in 2024, noting that the system has not significantly enhanced financial reporting, reconciliation procedures or transparency in public accounts.

Responding to enquiries about the Treasury Single Account, the Accountant-General’s representative explained that the introduction of Remita as a payment gateway was carried out without sufficient coordination with the Accountant-General’s Office, leading to operational difficulties and fragmented financial data management among MDAs.

In his own submission, Auditor-General for the Federation, Mr. Shaakaa Chira, stated that the absence of a clearly defined timeline in the 1999 Constitution (as amended) for the Accountant-General to submit financial statements has affected the prompt auditing of the Federation’s accounts.

He added that audit reports covering internal control weaknesses and compliance concerns for the period 2022 to 2025 are currently being completed for submission to the National Assembly, in accordance with legal requirements.

Chira noted that both constitutional and administrative shortcomings within the financial reporting framework have contributed to the delays, but assured lawmakers that steps are being taken to clear the backlog and restore compliance with statutory provisions.

After the hearing, the Committee ruled that both the Accountant-General and Auditor-General must ensure the submission of all outstanding financial statements and audit reports before October 2026, warning that failure to comply would lead to legislative sanctions.

The Public Accounts Committee stressed that it remains determined to enforce transparency, accountability and responsible management of public funds in line with its constitutional oversight mandate.

Section 85(6) of the 1999 Constitution assigns the Auditor-General the responsibility of submitting annual audit reports on the Federation’s accounts to the National Assembly for legislative review through the Public Accounts Committee.