The 2017 Federal Government Audit Report of the Federation has found that 265 government agencies defaulted in their financial reports and had irregular expenditures.
The latest national audit report evaluated the expenditures of the 265 agencies , which included the Ministry of Foreign Affairs, Nigerian Ports Authority , the National Health Insurance Scheme , Plateau and Imo State Universal Education Boards , and the University of Uyo .
This is just as a civil society organisation , Paradigm Leadership Support Initiative , called for a probe of unaccounted funds in the agencies , saying the funds stood at N9 .7 bilion for about 32 projects across 36 states and the Federal Capital Territory , Abuja .
The PLSI Executive Director , Olusegun Elemo , said the unaccounted funds showed “ a recurring and flagrant disregard for the public procurement act and financial regulations of Nigeria. ”
The FG report partly reads , “ Number of defaulting government agencies is 265 for financial reports up to December 31 , 2017 . A number of major weaknesses and lapses in the management of public funds and resources were identified across several ministries , departments and agencies during the annual audit .
“ Our findings range from irregular expenditures to failure to surrender surplus revenues to the treasury , all running into billions of naira . Overall , our findings are indicative of significant weaknesses in expenditure control , accounting , financial reporting and the accuracy of consolidated financial statements . ”