Forensic Accounting Body Pledges to Recover N1.2tn for FG

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The Society for Forensic Accounting and Fraud Prevention (SFAFP) has expressed readiness to recover N1.2 trillion to the Consolidated Revenue Fund (CRF) unremitted by 122 federal government Agencies.

Also, the society will support 12 bankrupt States with forensic revenue monitoring to eliminate fraud.

The Chairman of SFAFP, Iliyasu Gashinbaki made these known at the graduation ceremony of the 3rd batch of Professional Forensic Accountants held recently at the Anti-Corruption Academy of Nigeria, Keffi, Nasarawa State.

“We are aware that there are 122 Federal Ministries, Departments and Agencies (MDAs) that have not remitted their operating surplus into the Consolidated Revenue Fund”, Gashinbaki said.

“We have decided that giving the opportunity, we would like to work with the Fiscal Responsibility Commission (FRC) and Federal Ministry of Finance to ensure that there is a proper forensic audit of the MDAs to ensure that the funds trapped in there are remitted. If that is done, it will fund 10 per cent of the2020budget, which is about 10 trillion”

.According to him, the Society is also planning to support “12 bankrupt states with forensic revenue monitoring to eliminate fraud and block revenue leakages to enhance their fiscal sustainability” as well as working “hand –in- hand with the Federal Inland Revenue Service (FIRS), to conduct an efficient and transparent forensic audit of stamp duty Assessments, Collections and Accounting”. “With our professional support, the Federal government can triple the current collections of Stamp Duties.”

.Gashinbaki said the Society will continue to engage the nation to contribute its quota to national development. 31 Certified Forensic Accountants received their certificates, seals and forensic tool kits at the occasion while 163 Associates were inducted online.

Exuding joy on receiving her certificate, Margaret Akoje said: “I feel excited, overwhelmed and fulfilled as a certified Forensic Accountant. It has given me an in-depth knowledge on financial issues”.

On his part, Babale Mohammed simply said: “I feel great. I will just fly and the sky is the beginning of my career”. So far the Society has produced 80 Certified Forensic Accountants and 450 Associates.

SFAFP, which is a creation of the Association of National Accountants of Nigeria (ANAN), came on board on 9th April, 2011 with Registration at the Corporate Affairs Commission, CAC.