It was observed that the NBS does not include revenue from non-exchange transactions such as donations from donor agencies in its financial statements and management accounts as against the requirement of the International Public Sector Accounting Standards (IPSAS) which Nigeria has fully adopted since 2016. A review of a signed monthly IPSAS Accrual Basis Compliant Trial Balance as at 31st December 2017 and the signed Financial Statements for the year ended 31st December 2017, showed that only revenues from the CRF (Subventions) were recognized. The sum of N277,521,724.40 was received from donors in the year 2017. The 2017 receipts were not disclosed either on the face of, or in the notes to the general-purpose financial statements for 2017.
This anomaly was due to the failure of the Statistician-General to comply with the provisions of International Public Sector Accounting Standards guiding the treatment of revenue from non- exchange transactions such as donations in its financial statements.
The Statistician-General is required to account for the sum of N277,521,724.40 and be further directed by the Public Accounts Committee to report all revenues including donations in the financial statements of the Bureau.
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