Audit observed the following:
i. The consolidated Aid and Grants, per Note 7, for 128 MDAs amounting to ₦219,562,379,664.54 was in contravention of Auditor-General for the Federation’s recommendation in 2017 report that ‘Aid and Grants’ should be disclosed in the following format; S/no, Name of Donor, Purpose, Cash or Asset, MDA, Amount. As a result of the above violation, the sum of ₦219,562,379,664.54 shown as Aid & Grants could not be validated, and
ii. There was ‘Foreign Grants’ of ₦4,200.00 as well as ‘Domestic Grant’ of ₦17,100.00 totaling ₦21,300.00 in favor of Federal Ministry of Foreign Affairs in Note 7. Audit is concerned as to what amount in foreign currency was donated to the extent that its naira equivalent was ₦4,200.00. The donor was not disclosed to enable audit follow up with circularization.
The Accountant-General of the Federation is requested to:
i. Justify the non-compliance with IPSAS 1 on disclosures and the Auditor-General for the Federation’s recommendation in 2017 on proper disclosure of Aid and Grants, and
ii. Provide disclosures in the Notes to the Accounts that complies with the format required by the Auditor-General for the Federation.
iii. Otherwise, sanction relating to provisons of FR 3129 should accordingly apply.
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