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Missing 450B FG audits NIMASA, WAEC, JAMB, Open University, 29 other agencies

Nigeria's Finance Minister Kemi Adeosun speaks after the inauguration of the Efficiency Unit during an interview with Reuters in Abuja, Nigeria, November 30, 2015. REUTERS/Afolabi Sotunde
The Nigerian Communications Commission, Nigerian Ports Authority and Corporate Affairs Commission top the list of 33 agencies audited by the FG over missing N450billion.
According to the Finance Minister, Kemi Adeosun, the agencies have been audited by the Federal Government which is set to recover about N450 billion operating surpluses that were not returned by 33 agencies from 2010 to 2015.

Adeosun further said other agencies that have been listed for probe after the audit include the Nigerian Maritime Administration and Safety Agency (NIMASA), Nigerian Export-Import Bank, Federal Airports Authority of Nigeria, National Open University of Nigeria, Nigerian Railway Corporation, West African Examination Council, Joint Administrations and Matriculation Board and the National Hospital, Abuja.

The minister revealed that a committee headed by the accountant-general of the federation (AGF) had been set up to recover the money from the agencies after they had been audited.
In her words: “We know that in some cases that money would have already been spent so they will now give us a proposal of how they are going to repay but the money has to be paid,” she said.

“We are also looking at their Treasury Single Account (TSA) to understand how much money they actually have because in some cases these surpluses are in their accounts.
“Our plan is not to grind to a halt the activities of any agency but to institute fiscal discipline in all the agencies," she said.

Already, some of the agencies are said to have began returning some of the funds in their coffers to the Federal Government, Adeosun said the FG is determined to recover all the N450billion.


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