MDAs hide identities of individuals who received over N15 billion in govt transactions

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Federal ministries, departments, and agencies (MDAs) in 2019 failed to disclose the identities of individuals who benefited from numerous transactions of the Nigerian government totaling over N15 billion, according to the latest government audit report.

The failure, according to the report, leaves room for diversion and misapplication of public funds.

The report produced by the auditor-general of the federation said 37 MDAs were affected.

“The names of the individual beneficiaries in the affected MDAs were not disclosed in the Note to the FGN CFS.

“The anomalies could be attributed to weaknesses in the internal control system in the consolidation process,” the report said.

The report said, “Paragraph 127 of the International Public Sector Accounting Standards (IPSAS) 1 requires an entity to provide additional information that is not presented on the face of the financial statements but relevant in understanding any of them.

“This is to enable users to understand the impact of particular transactions, other events, and conditions on the entity’s financial statements and to further ensure understandability and facilitate comparability of the Financial Statements from year to year.”

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The report requested the accountant-general to provide details of the individuals who benefited from the funds or apply sanction to the affected MDAs over the “irregular payments” as stipulated by the nation’s financial regulations.

Part of President Muhammadu Buhari’s campaign promises was that his administration would fight corruption in Nigeria, especially in the public sector.

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