The Senate has threatened ministries, departments, and agencies of the federal government with zero allocation in the 2025 fiscal year if they fail to appear before it to scrutinize records of expenditures made from 2024 appropriations.
It also took a swipe at discrepancies in Nigeria’s revenue generation and expenditure tracking and called for improved synergy between the Office of the Accountant General of the Federation and the legislative body.
The Senators raised these concerns during an investigative hearing by the Senate Committee on Finance, led by Sani Musa, that focused on the remittance of internally generated revenue, fiscal accountability, and the overall state of the country’s financial management system.
Members of the committee who spoke during the session with the AGF, Oluwatoyin Madein and her team, flayed the level of discrepancies observed in the records books of some of the agencies.
The lawmakers who noted the inability to readily access accurate data on the funds available to the federation, stressed that it is a gap that impairs effective oversight and policymaking.
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