The Paradigm Leadership Support Initiative (PLSI) has raised alarm that N9. 7billion on 32 projects in 17 states across the country is yet to be accounted for in the 2017 audit report.
The executive director PLSI, Olusegun Elemo who disclosed this on Thursday in Abuja, explained that N17billion was released for 32 projects in 17 states including the FCT in 2017, N9. 7billion is yet to be accounted for as revealed in the audit report.
He expressed dismay on the recurring and flagrant disregard for Public Procurement Act and financial regulations in Nigeria.
He pointed out that the unaccounted funds when compared to similar publication in 2016 Audit Report of the federation where about N2. 97billion was unaccounted for, showed an increase in N6. 8billion (70.1percent) an indication that accountability in the utilization of public funds in the country getting worse.
Elemo lamented that Nigerians are not asking the big question of how to ensure that the N13trn budget estimate for 2021 would be efficiently, effectively and economically utilized adding that justification does the country have to continue to spend without an adequate audit mechanism.
He called on the Executive arm to work harmoniously with the National Assembly in accelerating the passage and assent to a modern audit law in Nigeria .
“How do you use a 1956 Audit act to evaluate a 2020 budget. It is completely unreasonable and that is the foundation of our 0roblrm today, the lack of accountability.
“What young people are protesting about today is not just the failure of the policing system or SARS but the failure of an entire democratic culture that continue to keep young people under”.
On the need to empower the AGF , he further called on the need to empower the office of the Auuditor General of the Federation to play more effective role in ensuring that public funds begin to work for citizens adding that there is need to put in place modern audit law that ensure value for money, guarantees services are effectively delieved to the people and the budget works for the people.
“if there is no auditing mechanism that evaluate the budget of the federation, how do we ascertain that budget are performing as they should”, he stated.
He also added that the office of the Auditor General should be tenure based and not limited by age adding that its also important to implement the succession plan as provided in Section 86 of the 1999 constitution as amended.
