*Says no N4.97trn missing from federation account
PHILIP CLEMENT, ABUJA
The Auditor General of the Federation, Mr Aghughu Adolphus has clarified his position on the federal government consolidated financial report for 2019, says no money was missing from the Federation Account.
Mr Aghughu disclosed this in a statement by the head of press, Office of the Auditor-General for the Federation (OAuGF), Eme Ika Ika Oqua, in Abuja on Thursday.
Reacting to reports in the media that N4.97trillion was misappropriated from the Federation Account, after his appearance at the senate, “Mr Adolphus A. wishes to state unequivocally that the ‘Unsubstantiated balances of N4.97trillion’ 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 sections of both print and electronic media.
The AuGF further explained that “The materiality was determined in the context of the likely errors and unsubstantiated balances amounting to N4.97trillion noted in the course of the audit which was above the materiality level of N89.34billion set for the audit, among others.
“This statement was made as one of the bases 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 f the Federal Republic of Nigeria.
The Auditor-General for the Federation, on Wednesday in Abuja 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.
Mr Adolphus presented the statement 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 is responsible for public account”.
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, therefore, described the submission of the reports before the 90 days as a remarkable feat, adding that the reports would guide lawmakers in holding public office holders accountable.