The Federal Government is to appoint two reputable international firm for a forensic audit of accounts of the all its revenue generating agencies, in a bid to promote and transparency in public accounting system.
Edo State Governor, Adams Oshimole, disclosed this after a meeting his committee held with some of the target agencies in Abuja on Thursday night.
They are Nigerian Customs Service, Nigerian National Petroleum Corporation, Securities and Exchange Commission, Central Bank of Nigeria, Revenue and Mobilisation Allocation Federation Commission, Federal Ministry of Finance, Nigerian Ports Authority, Office of the Accountant General of the Federation, Nigeria Extractive Industries Transparency International (NEITI), among others
He revealed that the audit of these agencies would cover the period between January 1, 2010 and June 30, 2015.
It would be recalled that after the recent National Executive Council (NEC) meeting in Abuja, four governors were selected to investigate the financial accounts of Nigerian National Petroleum Corporation (NNPC).
Oshimole together with the Governors Nasir el-Rufia (Kaduna), Ibrahim Dakwambo (Gombe) and Udom Emmanuel (Akwa Ibom), attended the meeting.
Oshiomole explained that the Committee has begun investigations to unravel how revenues generated by these agencies are spent, adding that the task of the Committee was very enormous to undertake.
According to him, “given our mandate, we have agreed to appoint two reputable international firms to carry out a thorough forensic audit, not only of NNPC, but all the monies that are accrued to the Federation account.
“Although people talk about excess crude account but have other revenues like bonuses, royalties, taxes, that part of it also flows into the Federation Account which form part of the budget of the National Assembly.
“So we are taking a holistic review of the entire revenue generating agencies that make contributions into Federation Account.
“So we are convinced that by appointing audit firms, we will allow professionals to carry out the exercise which will be free from political connection.
“We are sure that the outcome of the investigation will command the trust and confidence of all the stakeholders,” he added.
Oshiomhole said it is no longer going to be business as usual, adding that the laws as they apply to various institutions must be applied in full.
He however pointed out that if the audit reports recommend that the government should carry out further investigations, it would be done.
All the books of these agencies would be opened in line with the present administration’s mantra of transparency and accountability, noting that no agency of government would have any protection not be investigated.
On the names of the two audit firms to carry out the forensic audit, the Governor of Edo State, said it would be made public next Thursday at during the meeting of the committee with other agencies of government such as Nigeria National Petroleum Corporation, DPR, NIMASA, among others.
Oshimole assured that Nigeria would be better for it at the end of the day, as the Committee would carry out a thorough job.
Copyright Ships & Ports Ltd. Permission to use quotations from this article is granted subject to appropriate credit given to www.shipsandports.com.ng as the source.
