Former president of Institute of Chartered Accountants of Nigeria (ICAN), Ismaila Muhammadu Zakari has said President Bola Ahmed Tinubu’s cabinet consisting of 48 ministers will serve as an extra cost of governance.
With the current economic hardship in the country, the 48 ministers mock the cost-cutting measures, which were part of the campaign promises of the new administration.
Speaking on Thursday at a 2-day Audit Reporting Workshop organized by the non-profit NGO FrontFoot Media Initiative, Zakari made a call for the amendment of the constitution so the President lays the annual accounts before the National Assembly as he does for the budget.
He said: “The president should also present the financial report as well as presenting the budget.
“I wasn’t expecting Tinubu to remove the subsidy once but gradually with something to compensate the citizens”.
“Palliatives for subsidy removal have not started working and 48 ministers will be an extra cost of governance.”
TheNewsGuru.com reports that Zakari who is a member of the Presidential Committee on Fiscal Policy and Tax Reforms spoke extensively on why the government should audit its financial account annually and present it to the public for transparency and better governance.
He noted the constitutional stipulation that the Accountant General must prepare the annual accounts within 90 days of the end of the accounting year. He must then send it to the Auditor General who spends a further three months preparing and sending it to the National Assembly.
Zakari said compelling the President to lay the annual accounts before the National Assembly would instill greater accountability.
The Federal Government has not had audited accounts since 2019. Nigeria also had no Auditor General in the period.
President Bola Tinubu has nominated Mr. Shaakaa Chira to serve as Auditor-General of the Federation and forwarded it to the National Assembly for confirmation.
The National Assembly can confirm or reject the President’s nominee. The Senate Committee on Public Accounts usually conducts the process.
The committee will hold a hearing where they will ask the nominee questions about their qualifications and experience and review his background and any potential conflicts of interest.
Former president Muhammadu Buhari did not nominate a replacement Auditor-General since 2019. However, the audited statement of 2019 indicted the Federal Government on several counts.