The Nigerian Senate is taking a firm stance against government agencies that neglect to attend committee hearings regarding financial accountability. Senator Sani Musa, Chairman of the Senate Committee on Finance, announced that the legislature will utilize its constitutional authority to penalize agencies failing to appear to explain their internally generated revenue and operating surpluses.
During a session in Abuja focused on fiscal performance between 2023 and 2025, Senator Musa emphasized that agency heads must personally address inquiries about their financial conduct. He underscored that using government revenue without proper appropriation is illegal and will no longer be overlooked by the legislative branch.
A specific point of contention involved the Ogun-Osun River Basin Development Authority. The committee provided the agency with a 14-day deadline to reconcile its financial records. The Fiscal Responsibility Commission reported that the authority failed to submit audited financial statements for the past three years and noted a significant discrepancy regarding unremitted funds. Although the acting managing director, Mr. Ayo Oyano, argued that some funds were diverted for essential equipment maintenance, the committee insisted that all revenue from fully funded agencies must be deposited into the Consolidated Revenue Fund. Senator Musa warned that if the authority does not reconcile its accounts with the Accountant-General and the Fiscal Responsibility Commission within two weeks, it faces potential sanctions, including the suspension of future budget releases.
