Defaulters risk 5-yr jail, N20m fine as NASS passes audit bill

The National Assembly yesterday passed the Federal Audit Service Bill which prescribes, among others, a five-year jail term for accounting officers, who prevent the Office of the Auditor-General for the Federation from accessing their account books. The Senate concurred with the House of Representatives which had earlier passed the bill.  Chairman, Senate Public Accounts Committee, […]

The National Assembly yesterday passed the Federal Audit Service Bill which prescribes, among others, a five-year jail term for accounting officers, who prevent the Office of the Auditor-General for the Federation from accessing their account books.

The Senate concurred with the House of Representatives which had earlier passed the bill. 

Chairman, Senate Public Accounts Committee, Matthew Urhoghide, told journalists that the proposed legislation sought to strengthen the Office of the Auditor-General for the Federation.

He said: “The office is supposed to check systemic corruption in Nigeria by checking all expenditure of the ministries, department and agencies of government as provided for by Section 85 of the constitution.

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“The second aspect of the bill is the establishment of the Federal Audit Commission. Audit is a very peculiar department, but right now, we have those who did not study accounting being employed and working in the Audit House probably for political reasons.

“The commission will be responsible for the recruitment of proper staff that would be able to audit the accounts of the over 797 federal agencies.

“The least penalty we have in the bill for an individual is five year imprisonment or a fine of N5m or both.

“For corporate agencies that refused to audit their accounts for years, their fine is N20m.”