The Auditor-General of Nigeria, Shaakaa Chira, has warned that deep-seated opposition to change, obsolete financial structures, and insufficient internal controls continue to be significant obstacles to transparency in public financial management, even though there have been improvements in audit systems in recent times.
On Tuesday, as the nation celebrated its 65th independence day, Chira stated that the Office of the Auditor-General, Nigeria’s top audit body, has achieved notable progress in meeting global standards. Nonetheless, he expressed concern that numerous ministries, departments, and agencies still oppose oversight, resulting in ongoing financial losses and inefficiencies.
Chira outlined four major issues that hinder proper monitoring: insufficient capability and knowledge, obsolete and disjointed financial systems, poor internal control and supervision mechanisms, and insufficient implementation of penalties because of resistance to change and administrative obstacles.
“The office keeps bridging gaps by boosting capacity development, utilizing digital audit technologies, collaborating closely with the National Assembly to implement penalties, and interacting with MDAs via active audits and compliance assessments,” he stated in a declaration.
Despite these difficulties, Chira pointed out advancements in enhancing accountability systems. He mentioned that the Office has implemented technology, nurtured human resources, and followed international auditing standards, leading to more uniform financial compliance and an expanding culture of openness within the public sector.
He mentioned transformational efforts that are already yielding outcomes, such as enhanced application of audit recommendations, more robust financial management approaches, improved legislative supervision, higher involvement from stakeholders, and increased openness in high-risk areas. He further noted that independent evaluations have verified advancements in minimizing opportunities for misconduct.
Chira added that working with anti-corruption bodies like the Economic and Financial Crimes Commission and the Independent Corrupt Practices Commission has strengthened Nigeria’s accountability system. By using audit intelligence, the office has supported investigations, legal actions, and the recovery of stolen funds by various government departments.
Furthermore, collaboration with the National Assembly’s Public Accounts Committees has enhanced the speed and thoroughness of legislative review. Engagement with the Bureau of Public Procurement has also strengthened procedural fairness in procurement audits, reducing chances for misconduct related to contracts.
On the global stage, the Auditor-General highlighted cooperation with the African Organisation of Supreme Audit Institutions for English-speaking countries and the International Organisation of Supreme Audit Institutions. He mentioned that these alliances have boosted Nigeria’s reputation via peer evaluations, technical support, and implementation of top-tier procedures.
In the same way, interactions with the World Bank and other funding organizations have offered essential capacity-building assistance, allowing for the implementation of sophisticated techniques like performance audits and IT audits. These initiatives, according to Chira, have spurred wider reforms in financial management, enhanced adherence to International Public Sector Accounting Standards, and bolstered Nigeria’s position in global accountability rankings.
In the future, Chira emphasized that more significant reforms are required to maintain progress. He advocated for increased autonomy and enforcement authority for his position, complete implementation of IPSAS and international auditing standards, and enhanced transparency in budget planning and spending reports.
He also highlighted the significance of enhancing legislative supervision and penalty systems, while allocating resources to digital audit technologies and unified financial management systems. These changes, he mentioned, would not only minimize losses but also enhance monitoring and decision-making throughout Nigeria’s public financial system.
“At its core, the influence of our audit reports is visible not just in enhanced financial compliance, but also in fostering a wider culture of responsibility, openness, and careful financial management,” he stated.
Chira emphasized that financial responsibility plays a key role in Nigeria’s development objectives, especially during a period when public funds are limited and citizens expect more openness in leadership. He called on all branches of government and MDAs to adopt changes and back improved monitoring systems.
“Only through conquering resistance, updating systems, and ensuring responsibility can Nigeria protect public funds, reinforce institutions, and create a stronger economic foundation,” the Auditor-General stated.
Provided by SyndiGate Media Inc. (Syndigate.info).
