Politics
Auditor-General clears air on funds reported missing from federation account
The Auditor-General of the Federation (AuGF) Aghughu Adolphus, on Friday, clarified reports regarding “unsubstantiated balances of N4.97tn” in the federation account.
This was contained in a clarification note released by the AuGF.
Ripples Nigeria had reported that the AuGF bemoaned the unhealthy financial status of audited accounts of federal Ministries, Departments, and Agencies (MDAs) in 2019.
However, the clarification on Friday, noted that Aghughu’s assertion was misrepresented by sections of the media (not Ripples Nigeria).
READ ALSO : Auditor General’s report uncovers N4.9bn illegal allowances payment at NHIS
“The Auditor-General for the Federation (AuGF), Mr Aghughu Adolphus A., JP, FCNA, FCTI wishes to state unequivocally that the “Unsubstantiated balances of N4.97tr” mentioned in his address during submission of his Annual Report on the Federal Government of Nigeria (FGN) Consolidated Financial Statements for the year ended 31st December 2019 to the Clerk to the National Assembly on 18th August 2021 was not misappropriation of funds as misrepresented in certain section of both print and electronic media,” the clarification note said.
“For the avoidance of the doubt, the AuGF states ‘The materiality was determined in the context of the likely errors and unsubstantiated balances amounting to N4.97tr noted in the course of the audit which was above the materiality level of N89.34bn set for the audit, among others.’
“This statement was made as one of the basis for his qualified opinion. The qualified opinion notwithstanding, the FGN Consolidated Financial Statements for the year ended 31st December 2019 was true and fair.
“The general public should be guided by the above clarifications as no money is missing from the Federation Account of the Federal Republic of Nigeria.”
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: In Kwara, multimillion-naira milk processing plant is abandoned, converted to a chicken outlet
After the government spent millions of naira to establish a milk processing plant in Kwara State that would provided jobs...
SPECIAL REPORT: For Sokoto communities, promise of healthcare is akin to death sentence
In this story, ABDULRASHEED HAMMAD delves into the dire realities of Primary Health Care services in Sokoto State, shedding light...
ICYMI…SPECIAL REPORT: NNPCL hides behind PIA to frustrate disclosure, accountability
Nigeria’s major oil company, Nigerian National Petroleum Corporation Limited (NNPCL), in what appears to be a common practice of disregard...
INVESTIGATION: Multi-million naira Ekiti resort center remains uncompleted a decade after
The multimillion-naira project, expected to comprise recreational buildings, now consists of cassava farmland, a bush used for excretion, and a...
SPECIAL REPORT: Torturous experiences of students with disabilities in Oyo tertiary institutions
For students with disabilities in Oyo state-owned tertiary institutions, learning is a torturous and distressing experience, considering the building structures...