FG audited accounts directive as Reps order Accountant-General and Auditor-General to submit 2023–2025 statements before October 2026

The House of Representatives Public Accounts Committee on Monday issued a stern FG Audited Accounts Directive, ordering the Offices of the Accountant-General of the Federation and the Auditor-General for the Federation to submit consolidated financial statements and audited accounts for 2023, 2024 and 2025 before October 2026.

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The directive followed an investigative hearing at the National Assembly, where lawmakers scrutinised persistent delays in financial reporting and raised concerns about weaknesses in public financial management systems.

Chairman of the Committee, Mr Bamidele Salam, expressed dissatisfaction with what he described as a pattern of non-compliance with statutory obligations by the Office of the Accountant-General.

“The Fiscal Responsibility Act mandates the Federal Government to publish audited, consolidated financial statements not later than six months after the end of each financial year,” Mr Salam said.

Mr Salam warned that repeated delays were unacceptable and risked undermining fiscal discipline, institutional credibility and investor confidence.

The chairman added that the slow pace of reporting limited Nigeria’s ability to attract foreign investment and secure support from international development partners who rely on current and credible financial information.

As part of the FG Audited Accounts Directive, committee members also queried the payment of N9.8bn to vendors of the Government Integrated Financial Management Information System in 2024.

Lawmakers observed that the platform had yet to fulfil its core mandate of ensuring accurate and timely reconciliation of government accounts.

Representing the Accountant-General of the Federation, Mr Shamseldeen Ogunjimi, the Acting Director of Consolidated Accounts, Mr Shuaibu Sikiru, attributed the delays to operational and institutional challenges.

Mr Sikiru cited the failure of the Central Bank of Nigeria to provide complete bank statements for Ministries, Departments and Agencies, as well as technical limitations within the GIFMIS platform.

Mr Sikiru disclosed that the last comprehensive reconciliation of government accounts was conducted in 2022, despite renewed contracts with system vendors aimed at improving efficiency and financial consolidation.

Responding to questions on the Treasury Single Account, Mr Sikiru said the engagement of Remita as a payment gateway was undertaken without sufficient coordination with the Accountant-General’s office, resulting in operational complications and fragmented financial data management across MDAs.

In a separate presentation, the Auditor-General for the Federation, Mr Shaakaa Chira, pointed to structural weaknesses in the legal framework governing reporting timelines.

Mr Chira explained that the 1999 Constitution, as amended, does not specify a clear deadline for the Accountant-General to submit financial statements, a gap that has hindered timely auditing.

“Constitutional and administrative gaps in the financial reporting framework have contributed to the delays,” Mr Chira said, adding that audit reports covering internal weaknesses and compliance issues for 2022 to 2025 were being finalised for transmission to the National Assembly.

Delays in the submission of audited accounts have remained a recurring concern across successive administrations.

Under existing procedures, the Accountant-General prepares the Federation’s financial statements, which are audited by the Auditor-General before being laid before the legislature for consideration by the Public Accounts Committees of both chambers.

Analysts have attributed the persistent backlog to weak inter-agency coordination, incomplete financial data from MDAs, capacity constraints within audit institutions and ambiguities in constitutional provisions.

Without up-to-date audited accounts, lawmakers’ oversight powers are constrained and budget deliberations risk proceeding without a comprehensive picture of the government’s fiscal position.

Ruling after the hearing, the committee reaffirmed the FG Audited Accounts Directive and warned that failure to comply with the October 2026 deadline would attract legislative sanctions.

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Mr Salam said the committee remained resolute in strengthening transparency, accountability and prudent management of public funds, stressing that timely financial reporting was central to restoring public confidence in government finances.