No fewer than 315 Federal agencies including the Nigerian Ports Authority (NPA), Nigeria Deposit Insurance Corporation (NDIC) have failed to submit audited accounts to the Office of Auditor-General for the Federation (OAuGF), report of a Senate panel has revealed.
The report of the Senate Committee on Public Accounts on the status of compliance of parastatals on submission of audited accounts to the OAuGF obtained yesterday has revealed.
Section 85 (3) of the 1999 Constitution empowers the office of Auditor-General for the Federation to audit accounts of all agencies of the federal government.
The report of the committee chaired by Senator Andy Uba (PDP, Anambra) was laid during Tuesday’s plenary.
A copy of the report showed that of the 473 Federal Government parastatals, only 21 have fully complied and are up to date in terms of submission of their audited accounts.
Some of the agencies that have fully complied are Central Bank of Nigeria (CBN), Federal Medical Centre, Birnin Kebbi, Federal Character Commission, Nigerian Television Authority (NTA), National Human Rights Commission and Nigerian Law Reform Commission.
The report revealed that 18 Federal establishments including Asset Management Corporation of Nigeria (AMCON) and Nigerian Football Federation (NFF) are in arrears since their establishment in the submission of the document.
It revealed that 297 parastatals have failed to submit their audited accounts for various years.
The committee urged the Senate to withhold budgetary allocation to any of the parastatals with arrears of 3 years and above.