Audit All Revenue Generating Firms Under Jonathan’s Administration, Buhari Orders AGF

This was contained in a statement issued in Abuja on Wednesday by the Accountant-General of the Federation, Alhaji Ahmed Idris, who added that the directive is to be completed in 18 months.

According to the statement signed by Kenechukwu Offie, the director of press in the office of the AGF, Idris noted that his office is set to hire the services of 18 professional audit companies to carry out the task.

The move, “is in line with the Federal Government’s agenda to institutionalise fiscal discipline, transparency, probity and accountability in the management of public finances.” who was represented by the Director, Funds, Alhaji Salau Zubairu told the auditors that the exercise “will enable government to assess the true state of its revenue generation, capital and recurrent (personnel and overhead) expenditure across the ministries, departments and agencies.

“This is to enable Federal Government reach better decisions in view of dwindling inflow of revenue.”

He also highlighted the importance of the assignment and urged them to be “effective and professional while carrying out their assignment”.

He urged the auditors to be professional while carrying out their assignment and engage young qualified Nigerians to assist them. 

According to him, the recruitment of youths would form part of the criteria for future relations between the government and the organisations. 

He assured the consultants of the support and assistance of the OAGF in discharging their duties, while listing the terms of reference for the job.

“Undertake a critical review of the financial statements of the organisations over the last five years, confirm the sources and quantum of funding received from government, whether loans, subventions or grants and reconcile with treasury records,” he said.

“Study in detail the enabling laws establishing the organisations with a view to identifying possible constraints and areas of improvement

“Determine the amount of remittances made to the consolidated revenue fund (CRF) over the last five years in the form of operating surplus and revenue dividends.

“Determine the extent of compliance with extant regulations regarding the adequacy and regularity of remittances to the CRF.

“Identify all income and interest thereon and make adequate recommendations on the future management of the organisations.”

He further told to consultants that their activities would be closely monitored by experienced staff of the AGF office to ensure that “government gets value for money”.

The assignment, which would involve 33 agencies, was divided into two categories, the auditor-general said.

Category A, comprised of eight agencies with a turnover of above N100 billion, while that of Category B involves 25 agencies with a turnover of below N100 billion.