The Director, Inspectorate Department of the OAGF, Mohammed Usman, accused the Independent National Electoral Commission, (INEC) of withholding unspent cash at the end of the financial year.
Usman said INEC had always said it was empowered to retain funds whenever the OAGF requests for clarification from the Attorney General of the Federation,( AGF) as part of public accounts procedure to return left over cash to the chest.
“Since 2015, the issue is now a subject with the public accounts committee of the National Assembly,”. Usman said, disclosing that all MDAs have at various times neglected to keep proper inventory of government asset.
"All MDAs are not up to date with the asset register. It has become more imperative now given the new accounting techniques adopted by the federal government to keep an accurate assets register,” he said.
Meanwhile, The Federal Government has engaged the services of some international audit firms, including Ernst & Young and PriceWaterhouse Coopers, to reconcile and recover public funds illegally withheld by banks.
Disclosing this in Abuja, Director (Funds), Office of the Accountant General of the Federation, (OAGF) Hamza Adeyemi, said that the resort to hiring the audit firms followed the continued refusal of the affected banks to return government funds in their possession despite the Central Bank of Nigeria, (CBN) sanctions debiting the accounts of the banks.
Edited From Sun