Suspended AGF Signed N26tn Financial Statement Without Ministers Approval – Report

Suspended AGF Signed N26tn Financial Statement Without Ministers Approval – Report

by Victor Ndubuisi

According to an audit report, a previous Accountant General of the Federation (AGF) unilaterally signed the Federal Government’s N26 trillion 2019 financial statement.

The AGF’s decision was revealed following the delivery of an audit report to the Senate Public Accounts Committee, chaired by Senator Ahmed Wadada.

In a 2019 report filed to the National Assembly, the Auditor-General of the Federation discovered that the former AGF signed the agreement without being countersigned by the then Minister of Finance, in violation of financial legislation.

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To back up their argument, the Auditor-General’s office cited sections of the Financial Regulations.


Paragraph 103 of the Financial Regulations states that: “The President of the Federal Republic of Nigeria assigned to the Minister of Finance the responsibility for all financial business of the government of the federation, while Paragraph 105 of the FR empowers the Minister of Finance to issue, from time to time, financial regulations, which is of general applications to ministries, extra-ministerial offices and other arms of government.

“By implication, the Honorable Minister of Finance in Nigeria is the Chief Executive Officer on government financial matters.”

Ahmed Idris was the Federation’s Accountant-General at the time, according to report.

He was removed from office after being accused of financial mismanagement of N109 billion.

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The audit report said, “The Accountant-General of the Federation was the only officer of the Federal Government of Nigeria that signed the consolidated statement of financial position without indicating his FRC of Nigeria registration number, a component that carries the approval of the CFS, contrary to the extant regulation.

“There was no signature with FRC of Nigeria registration number of the Honorable Minister of Finance, Budget and National Planning on the Consolidated Statement of Financial Position.


“The above anomalies could be attributed to weakness in the internal control system in the consolidation process.”


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