Senate investigating the signing of a N26 trillion financial statement by former AG Ahmed Idris..

    The Senate Public Account Committee initiated an investigation into the actions of the former Accountant General of the Federation, Ahmed Idris, for independently signing the country’s 2019 financial statement amounting to N26 trillion without the knowledge of the former Finance Minister, Hajia Zainab Ahmed. The total federal government financial liabilities for 2019 were reported as N26.2 trillion.


    The Senate panel, led by Senator Ahmed Wadada, brought attention to this issue while reviewing the Federation’s financial statement for the 2019 fiscal year. The Auditor General for the Federation’s 2019 report, submitted to the National Assembly, highlighted the infraction.

    According to the Auditor General’s report, “The Accountant-General of the Federation was the only officer of the Federal Government of Nigeria that signed the consolidated statement of financial position without indicating his Financial Reporting Council of Nigeria registration number component that carries the approval of the Cash Flow Statement (CFS), contrary to the existing regulation.”

    The report further pointed out the absence of the Finance Minister’s signature with the Financial Reporting Council of Nigeria registration number on the Consolidated Statement of the Financial Position, attributing these anomalies to weaknesses in the internal control system in the consolidation process.

    Expressing concerns over the issues raised, the Senate panel chairman requested that the Accountant General of the Federation address the allegations. However, the acting Accountant General of the Federation, Toyin Madein, clarified that she was not in office at the time the financial statement in question was signed.

    The co-signing of the financial statement was introduced to enhance accountability and transparency. Additionally, it was noted that between 2018 and 2019, the Federal Government transitioned from a cash basis to an accrual basis.

    According to the Auditor General for the Federation, financial regulations empower the Minister of Finance to issue regulations of general application to various government entities. Therefore, the Minister of Finance is regarded as the Chief Executive Officer (CEO) on government financial matters, as stipulated in the nation’s Financial Regulations.

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