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Senate initiates probe into financial records of 774 federal agencies

Auditor General's Report Prompts Scrutiny of NNPC, NIMASA, and Others

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The Nigerian Senate has commenced an inquiry into the financial activities of 774 federal agencies, including prominent bodies such as the Nigerian National Petroleum Corporation Limited (NNPC) and the Nigerian Maritime Administration and Safety Agency (NIMASA), in response to queries raised in the 2019 Auditor General for the Federation report.

Aliyu Wadada, Chairman of the Senate Public Account Committee, revealed this development during a briefing with journalists in Nasarawa State on Friday. He emphasized the committee’s commitment to examining the expenditure records of these agencies to ascertain the judicious utilization of allocated funds.

“We are currently looking into the books of 774 MDAs to see what was appropriated to them and check whether they judiciously utilized the funds,” Wadada stated. He further outlined plans to compile quarterly reports for public dissemination following their endorsement by the Senate in plenary sessions.

Despite the rigorous scrutiny, Wadada assured that the committee’s objective is not to engage in witch hunts but to fulfill its oversight duties in the nation’s best interest. He underscored the imminent collaboration between the 10th National Assembly, President Bola Tinubu, and key stakeholders to amend the 2007 Procurement Act, aiming to preclude financial misconduct proactively.

Wadada highlighted the significance of well-documented financial reports in facilitating effective audits and averting potential discrepancies. He emphasized ongoing engagements with heads of various government departments to address concerns raised in the Auditor General’s report.

“Inquiries into the financial transactions of revenue-generating agencies such as the NNPC and NIMASA are currently underway,” Wadada affirmed, indicating the comprehensive nature of the investigation.

In conclusion, Wadada appealed to leaders across all levels of government to uphold principles of self-discipline and accountability in discharging their duties, underscoring the importance of ethical governance practices in fostering public trust and transparency.

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