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AUDITOR-GENERAL SUBMITS 2019 CONSOLIDATED FINANCIAL STATEMENT TO PARLIAMENT

 

The AuGF submitting the 2019 FGN CFS to the DCNA at the National Assembly on Wednesday

The Auditor-General for the Federation, Aghughu Adolphus A. JP; FCNA, FCTI on Wednesday, August 18, 2021 submitted the Annual Report on the Federal Government of Nigeria (FGN) Consolidated Financial Statements (CFS) for the year ended 31st December, 2019 to the clerk of the National Assembly in compliance with Section 85(5) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) which states that the Auditor-General shall, within ninety days of receipt of the Accountant-General's financial statement, submit his reports under this section to each House of the National Assembly and each House shall cause the reports to be considered by a committee of the House of the National Assembly responsible for public accounts.

In an address, the Deputy Clerk of the National Assembly (DCNA), Bala Yabani who represented the clerk of the National Assembly commended the AuGF for his services. He described the submission of the reports before the 90 days as a remarkable feat. He posited that the reports would guide lawmakers in holding public office holders accountable.

The AuGF expressed that he has taken into account financing frameworks in the compilation of the report. He said that the report components comprised of the following: Consolidated Statement of Financial Position, Consolidated Statement of Financial Performance, Consolidated Statement of Changes in Net Assets/Equity, Consolidated Statement of Cash Flows, Consolidated Statement of Comparison of Budget and Actual, and Notes to the Consolidated Financial Statements, including a Summary of Significant Accounting Policies.

The AuGF also informed the DCNA of his international engagements as Chairperson, African Union Board of External Auditors, President, AFROSAI WGEA and a Member of the ECOWAS Organization of Supreme Audit Institutions (ECOSAI). He also expressed his constraints and challenges with the working conditions in the Office of the Auditor-General for the Federation (OAuGF) which include the following: The absence of Federal  Audit Service Law to enable the Office of the Auditor-General for the Federation to offer the country the expected effective leadership to public sector auditing at a time when almost all states in Nigeria now have State Audit Service Laws as the basis for sustainability of States fiscal transparency and accountability; Gross underfunding; Depleted workforce-operating SBOs with 2 or 3 Officers; Office accommodation especially for Lagos SBO, and insecurity while on fieldwork of the Workforce.

It is also recorded that on the 25th of March 2021, that the AuGF submitted the Annual Report on the Federal Government of Nigeria Consolidated Financial Statements for the year ended 31st December, 2018 to the clerk of the National Assembly. This was exactly one month of his appointment as the substantive AuGF.

EME IKA IKA OQUA
Head, Press Unit

Wednesday, August 18, 2021

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