Audit observed from Note 13, ‘Overhead Cost’ to the Consolidated Financial Statements that eighteen (18) MDAs recorded zero overhead cost. However, reports generated from GIFMIS platform revealed that these MDAs incurred overhead costs totaling N2,637,099,344.15 (Two billion, six hundred and thirty-seven million, ninety-nine thousand,
three hundred and forty-four naira, fifteen kobo).
The Accountant-General of the Federation is requested to:
i. Justify the non compliance with the provisions of FRs 106 and 108, and IPSAS 1,and
ii. Provide reconciliation statement(s) showing the agreement of the Consolidated Financial Statements with GIFMIS on N2,637,099,344.15 Overhead Costs spent by18 MDAs.
iii. Otherwise, sanction relating to provisions of FR 3129 should accordingly be applied.
N/A
N/A
Click to enlarge image
Seach for project by title, MDA, state, status, year…
Do you know of project(s) in your community that has been abandoned, not executed or poorly implemented. Our team is ready to help you track it and get government to act.
Value for Money allows you to track, report and act on audited development projects abandoned, not executed or poorly implemented in your community to ensure public funds are efficiently, effectively, and economically utilized to improve service delivery to you and other citizens in Nigeria
Stay in the loop, get all project updates straight in your inbox.
