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President of the World Bank Group, Jim Yong Kim in a chat with Minister of Finance, Mrs. Kemi Adeosun at the ongoing World Bank Meeting in Washington DC, US

FG yet to complete forensic audit of NCC, Customs accounts

The Minister of Finance, Mrs. Kemi Adeosun, has revealed that the accounts of two major revenue generating agencies of the government including the Nigerian Communications Commission (NCC) and Nigerian Customs Service (NCS) are still outstanding and yet to be audited.

Already, the Federal Government has completed the forensic audit of the Nigerian Ports Authority (NPA), the Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigerian National Petroleum Corporation (NNPC).

Giving the details in Abuja at the National Economic Council (NEC) meeting in Abuja recently, she said out of the 18 agencies in which forensic audit was conducted, the committee completed work on 13, with two ongoing while three others are not revenue generating.

The NEC meeting is chaired by Vice President Yemi Osinbajo.

The 13 agencies where the audit had been completed include NIMASA, NNPC, NPA, FIRS, NPDC, DPR, among others.

Accordingly, the minister noted that NEC has directed the audit committee to conclude its report under four weeks and fully report back to council at its the next meeting.

Though she was silent on why the audit of the two agencies were not yet completed, a source in the ministry said “there are some issues in some of the documents presented that needed to be cleared very well so that the forensic audit will be completed in line with standards.”

“These two agencies are strategic to the economy just like the NNPC and the CBN, hence the Committee is taking their time to avoid bad job at the end.

The source assured that both agencies forensic audit report, like others will be ready before the end of the additional four weeks granted by NEC”.

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