Why Federal Agencies Keep Missing Mandatory Audits as ₦1.34tn Irregularities Emerge

Federal ministries, departments and agencies continue to miss mandatory annual financial audits, weakening accountability for public spending. The Auditor-General for the Federation recently reported more than ₦1.34 trillion in financial irregularities, including unsupported expenditure, unremitted revenue and missing records. Delayed accounts can make it harder to detect questionable spending early. The Auditor-General lacks direct powers to sanction defaulting agency heads, while legislative public accounts committees often review records years after the money has been spent. Poor funding and limited digital tools also affect auditors' ability to monitor transactions and enforce pre-payment checks. Stronger audit laws, operational independence for the Auditor-General and penalties for agencies that miss reporting deadlines could improve compliance and protect public funds.

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