The House of Representatives Public Accounts Committee has raised alarm over the disappearance of over ₦250 billion from government coffers, citing revelations from the Auditor-General of the Federation’s reports.
Chairman of the committee, Bamidele Salam, disclosed the findings during a media briefing at the National Assembly in Abuja on Tuesday.
He expressed concern over rising financial irregularities across government agencies, warning that more than 60 percent of Ministries, Departments, and Agencies (MDAs) consistently flout financial regulations.
Also Read: Navy Launches Special Operation Against Crimes On Lagos, Ogun Waters
The audit uncovered numerous unauthorised virements and a surge in audit queries, reflecting systemic lapses in accountability and governance.
Mr Salam warned that such persistent disregard for due process undermines public confidence, weakens democratic institutions, and hampers Nigeria’s development goals.
He urged urgent reforms to enforce compliance and restore integrity to public financial management. Investigations and parliamentary scrutiny are expected to intensify in the weeks ahead.
Leave feedback about this
You must be logged in to post a comment.