The Speaker of the House of Representatives, Abbas Tajudeen, has expressed concern over the persistent failure of government agencies to account for public funds, revealing that over ₦300 billion flagged by various audit reports remains unrecovered.
Abbas spoke yesterday during the opening of a 4-day National Conference on Public Accounts and Fiscal Governance 2025 with the theme: ‘Fiscal governance in Nigeria: Charting a new course for transparency and sustainable development’, organised by the Public Accounts Committees (PACs) of the National Assembly.
The Speaker, represented by House Leader Julius Ihonvbere, said the trend undermines Nigeria’s fiscal integrity and accountability.
“Fiscal responsibility cannot thrive where audit queries are routinely ignored without consequences. We have advocated for mandatory compliance and sanctions for audit infractions, closing long-standing loopholes that allow MDAs to disregard audit queries with impunity,” Abbas said.
The Speaker said the House has shifted from passive audit review to active enforcement, developing a structured follow-up mechanism to track compliance with audit recommendations. He said MDAs must not only be monitored but held to measurable standards of public resource management.
While calling for digital innovation in public finance, Abbas revealed that the House is prioritising the integration of real-time expenditure tracking tools and audit software to eliminate inefficiencies and enhance transparency.
Delivering the president’s address, Minister of State for Finance, Dr. Doris Uzoka-Anite, reiterated his administration’s resolve towards strengthening the role of Office of the Auditor-General, enhancing procurement transparency framework, and expanding the use of digital financial management systems across Ministries, Departments and Agencies (MDAs).
While acknowledging that sound fiscal governance cannot thrive in isolation from monetary stability, Tinubu assured that his “administration is working more closely than ever with the Central Bank of Nigeria to ensure better coordination between fiscal and monetary policy. This alignment is crucial to tame inflation, stabilise the naira, and restore investor confidence.”
The president called on the National Assembly and especially the Public Accounts Committees to continue discharging their constitutional responsibilities with integrity, courage and independence. “Oversight is not a political tool—it is a patriotic duty,” Tinubu said.
Senate President Godswill Akpabio, represented by Senator Abdul Ningi, warned against the rising trend of non-compliance with legislative summons, particularly by heads of agencies.
“Refusal to honour legislative invitations, especially from PACs, is an affront to democracy and must be stopped,” Akpabio said. “The Public Accounts Committees are constitutionally empowered watchdogs of public funds.”
Akpabio called for increased legislative capacity and digital tools to audit institutions like the CBN, NNPC, and FIRS, warning that impunity and opacity will no longer be tolerated.
Chairman of the House Public Accounts Committee (PAC), Hon. Bamidele Salam, described the conference as a “milestone” in Nigeria’s pursuit of transparency and sustainable development. He called for the recalibration of the country’s fiscal governance systems.
“Making public funds work for public good is a mantra we must not only proclaim but internalize and practice,” Salam said.
Senator Ahmed Wadada, Chairman of the Senate Public Accounts Committee (SPAC), echoed the call for discipline, warning that Nigeria’s progress depends on how public funds are managed.
“We have seen budgets passed without adequate oversight and funds released without measurable outcomes. Fiscal integrity must become a national standard,” Wadada said.
He also lamented gaps in financial reporting and audit implementation, calling for stronger institutional synergy across government arms and collaboration with Nigeria’s international partners.
President of the African Organisation of Public Accounts Committees (AFROPAC), Hon. Medard Lubega Sseggona, commended Nigeria’s efforts and described the conference as a strategic step towards positioning the country as a continental leader in fiscal transparency.
