The Public Accounts Committee of the House of Representatives has directed the Office of the Accountant-General and the Auditor-General of the Federation to submit the consolidated financial statements and audited accounts of the Federal Government for 2023, 2024, and 2025 before October 2026.
Chairman of the Committee, Hon. Bamidele Salam, expressed dissatisfaction with the Accountant-General’s failure to comply with statutory financial reporting obligations.
“The Fiscal Responsibility Act mandates the Federal Government to publish audited, consolidated financial statements not later than 6 months of the end of each financial year,” he said.
The Committee queried the payment of N9.8 billion to vendors of the Government Integrated Financial Management Information System (GIFMIS) in 2024, noting that the platform has yet to deliver its core mandate.
The Accountant-General attributed the delay to the Central Bank of Nigeria’s failure to provide complete bank statements and technical limitations of the GIFMIS platform.
“The last comprehensive reconciliation of government accounts was conducted in 2022,” he said.
Committee members questioned the justification for the N9.8 billion payment to GIFMIS, expressing concern that the platform has not improved financial reporting or transparency.
The Accountant-General’s representative stated that the engagement of Remita as a payment gateway was implemented without adequate coordination, resulting in operational complications.
The Auditor-General explained that the non-specification of a timeline for submitting financial statements has hindered timely auditing.
“Audit reports covering 2022-2025 are being finalised for submission,” he said.
The Committee directed both officials to submit outstanding financial statements and audit reports before October 2026, warning that failure to comply would attract legislative sanctions.
