Reps probe FG’s four-year financial statements, flag N9.8bn payment through GIFMIS

The House of Representatives Public Accounts Committee has queried a N9.8 billion payment in 2024 to vendors of the federal government processed through the Government Integrated Financial Management Information System (GIFMIS), raising concerns over the platform’s failure to deliver accurate and timely reconciliation of government accounts.

The Committee also queried the office of the accountant-general and auditor-general over peristent delays in publishing audited financial statements of the federal government, warning that such lapses undermine fiscal discipline, weaken institutional credibility and negatively impact investor confidence.

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The Committee directed Shamseldeen Ogunjimi, the accountant-general and, Shaakaa Chira, auditor-general to prepare and submit the consolidated financial statements and audited accounts of the federal government for the year 2023, 2024 and 2025 before October, 2026 or face sanctions.

The Committee raised these concerns during an investigative hearing on Monday with the Office of the accountant-general of the federation and the auditor-general for the federation.

Members of the committee questioned the justification for the payment, stressing that the GIFMIS platform has not improved financial reporting, reconciliation processes or transparency in government accounts.

Bamidele Salam, chairman of the Committee, expressed strong dissatisfaction with the failure of the accountant-general to comply with statutory financial reporting obligations.

He noted that the Fiscal Responsibility Act mandates the federal government to publish audited, consolidated financial statements not later than 6 months of the end of each financial year.

He further noted that Nigeria, despite being Africa’s largest economy, continues to lag behind in public financial reporting standards, thereby limiting its ability to attract foreign investment and secure support from international development partners who rely on current and credible financial information.

Responding, the Accountant-general, represented by Shaibu Sikiru, acting director of Consolidated Accounts, acknowledged that disclosed that the last comprehensive reconciliation of government accounts was conducted in 2022, despite the renewal of contracts with GIFMIS service providers to enhance system efficiency and enable accurate financial consolidation.

He further attributed the delay in submitting audited statements to several operational challenges, including the failure of the Central Bank of Nigeria (CBN) to provide complete bank statements of Ministries, Departments and Agencies (MDAs), as well as technical and operational limitations associated with the GIFMIS platform.

In his presentation, the auditor-general explained that the non-specification of a timeline for the accountant-general to submit the financial statement as provided under the 1999 constitution (as amended) have hindered the timely auditing of the Federation’s accounts.

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He added that audit reports covering internal weaknesses and compliance issues for recent year 2022-2025 are currently being finalised for submission to the National Assembly as required by the law.

He noted that constitutional and administrative gaps in the financial reporting framework have contributed to the delays but assured lawmakers that efforts are ongoing to clear the backlog and restore compliance with statutory requirements.