Senate queries AGF for alleged opaqueness of N57.6b FG grants

THE Senate Committee on Public Accounts has queried the Accountant-General of the Federation ( AGF), Idris Ahmed, for “failure to disclose details of N57.6 billion Federal Government grants.” The current administration had, in 2017, released the lump sum to state governments, private and public companies as contributions to international organisations among others.

The panel made the complaint on the strength of the 2017 report of the Office of Auditor- General of the Federation.

The query read: “Examination of Note 14 ( Grants and Contributions), as well as the Statement of Financial Performance revealed the following: “The budgetary provision for grants and contributions was not disclosed in the notes to the accounts. This contravenes the provisions of IPSAS 24 ( Presentation of Budget Information in Financial Statements).

“The sum of 57,624,929,461.05 ( Fiftyseven billion, six hundred and twenty- four million, nine hundred and twentynine thousand, four hundred and sixty - one naira, five kobo) was granted by the Federal Government of Nigeria as grants and contributions, which represent transfers to domestic and foreign governments, public and private owned companies, academic institutions and internationals for 2017.

“The breakdown and details of grants and contributions were not presented for audit. Nondisclosure of details of Federal Government grants and contributions will cast doubt on the authenticity and actual usage of such grants and contributions.”