On June 3, 2025, the House of Representatives’ Public Accounts Committee revealed that over ₦250 billion in public funds are unaccounted for, based on findings from the Auditor-General of the Federation. Chairman Bamidele Salam highlighted that numerous government entities have failed to comply with financial regulations, with more than 60% of Ministries, Departments, and Agencies (MDAs) neglecting proper financial procedures. The audit reports also indicate a troubling rise in unauthorized fund reallocations and an increasing number of audit queries each fiscal year. These persistent financial irregularities are eroding public trust and undermining Nigeria’s democratic institutions.
This disclosure follows earlier concerns raised by the House in January 2025, where they attributed widespread corruption to weaknesses in the nation’s auditing and accounting systems. The Public Accounts Committee emphasized that inadequate auditing coverage and underfunding of the Auditor-General’s office have allowed significant revenue losses and hindered national development.
In response to these challenges, the Auditor-General for the Federation, Shaakaa Chira, acknowledged the office’s limitations due to budgetary and personnel constraints. He committed to submitting the 2022 audit reports by March 2025, aiming to enhance transparency and accountability in the management of public funds.
