MDA

Anambra State Investment Promotion and Protection Agency

Project Location/State

Anambra State

Award Year

2020

Contract Sum

₦N/A

Amount Paid

₦NGN 0.00

Unaccounted

₦NGN 0.00

Context/Observation

Audit observed that the provisions of section 18(1) of the law establishing ANSIPPA which requires the council to prepare not later than 30th September each year an estimate of the income and expenditure of the agency for the succeeding year was not complied with by the council. The budget estimate is an essential management tool which guides an entity in planning, controlling and monitoring its activities.
The implication for non-preparation of annual budget estimate by the agency is that they have been expending money not appropriated for which of course, has grievous consequences in public financial management.

Contractor

N/A

Beneficial Ownership Information

N/A

Legislative Recommendation

The management should ensure going forward that the income and expenditure budget of the agency are prepared on annual basis for onward submission to the relevant authorities for proper appropriation as prescribed by the law as further default in this respect will no longer be viewed lightly.

Executive Action

N/A

Progress Report

N/A

Data Source

N/A

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