The Public Accounts Committee of the House of Representatives has expressed serious concern over the disappearance of over ₦250 billion in public funds, as revealed in reports from the Office of the Auditor-General of the Federation.
Speaking at a press briefing at the National Assembly complex in Abuja, the Chairman of the Committee, Bamidele Salam, stated that the audit reports uncovered widespread financial discrepancies involving several government agencies.
According to Salam, the reports detail a disturbing trend of growing financial irregularities within public institutions, with more than 60 percent of Ministries, Departments, and Agencies (MDAs) repeatedly failing to comply with established financial regulations.
He warned that the consistent failure to adhere to due process not only undermines sustainable national development but also erodes public confidence in governance and weakens Nigeria’s democratic institutions.
The committee has pledged to intensify its oversight responsibilities and ensure that those responsible for financial mismanagement are held accountable.