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Senate Threatens AG Over Audit Reports Of State House, EFCC, FIRS, Others

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Jennifer Akamanu

 
The Senate has disclosed that it was yet to receive the audited report of any federal establishment for 2017 from the office of the Auditor-General for the Federation.
The Senate refusal by government Ministries, Agencies and parastatals to forward their audited reports has contravened Section 85 of the 1999 constitution, even as it reiterated that some of these agencies, since they were established, have never had their accounts audited, adding that some of the backlogs range from fifteen to twenty years.

The Senate has however given a two- week ultimatum to the office of the Auditor General for the Federation to get the audited reports of the State House, the office of the Secretary to the Government of the Federation, SGF, the Economic and Financial Crimes Commission, EFCC, the Central Bank of Nigeria, CBN, the Federal Inland Revenue Service, FIRS, the Nigerian Ports Authority, NPA and the Nigerian Maritime Administration and Safety Agency, NIMASA.

NDDC seeks NASS assistance on fund recovery Speaking in Abuja when he led members of his Committee on Public Accounts, PAC, on an oversight visit to the Auditor-General for the Federation, Anthony Ayine, Chairman, Senate Committee on Public Accounts, Senator Matthew Urhoghide, PDP, Edo South said that other agencies of government like the Army, the Police, the Independent National Electoral Commission, the Navy, the Airforce, among others should submit their audited reports to the office of the Auditor- General.
Urhoghide added that the Senate has also mandated the Auditor-General to carry out a holistic auditing of the Nigerian National Petroleum Corporation, NNPC in the last five years. Meanwhile, Ayine, who pleaded with the Senate to help in the amendment of the enabling laws especially section 85(3) to enable the agency bite, said, “As long as that sub section remain there, it is very clear Auditor General cannot audit the parastatals because it is restricted by the Constitution.” Speaking to Journalists after the meeting, Senator Urhoghide said, “as a routine activities of the Senate Committee on Public Account, we came here to interface with the Auditor General’s office  and you know it by our rules, this is the only Office that this Committee oversights.

Nigeria imported 5.56bn litres of petroleum products in Q3 “This is the first time of coming here, to know how the operations are and what is going on, particularly in respect to the presentation of the audited report from his office.

“The last time we got the report was in 2016 and then of course, the Senate Committee is looking at the report given to it by the Senate which was submitted by the Auditor General to the National Assembly.

The 2017 is not ready and we are getting to the end of 2018, we have equally come to ask him why the 2017 report is not ready.

He has just told us that the Constitution, Section 85 of the Constitution provides that the Auditor General should submit within 90 days the statement of Accountant General  of the Federation to the Auditor General and as of 2017, we had expected that by March this year, the Auditor General should have submitted that report to the Auditor General office, so we don’t have the report of the 2017 yet, because the Auditor General did not submit the report.”

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Access Bank Appoints Uche Orji as Independent Non-Executive Director

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Access Bank Appoints Uche Orji as Independent Non-Executive Director

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Access Holdings Plc (‘the Company’) is pleased to announce the appointment of Mr. Uche Orji as an Independent Non-Executive Director of its flagship subsidiary, Access Bank Plc (‘the Bank’), effective from January 7, 2025, following the approval of the Central Bank of Nigeria (‘CBN’).

This appointment reflects our commitment to enhancing our governance practices and ensuring a diverse and experienced board.

Mr. Orji is a renowned investment banking professional, information technology entrepreneur, and finance expert with three (3) decades of professional and board experience. He is the Co-founder and Partner of Titangate Capital Management, an equity firm that invests in deep-tech, enterprise software, semi-conductors, hardware, and artificial intelligence companies.

He is the Founder and Director of Vitesse Africa Limited, an investment advisory firm focused on African energy, technology and infrastructure sectors. He serves as an Executive Board member and investor in Ultrasafe AI, an artificial intelligence/IT development firm that maintains strategic collaborations with leading technology companies. He also sits on the Board of Private Infrastructure Development Group, London, and chairs the Risk Committee.

Previously, Mr. Orji served as the founding Managing Director and Chief Executive Officer of Nigeria Sovereign Investment Authority. He held positions as Managing Director and Senior Analyst at UBS Securities Limited New York and Managing Director and Head of European Technology/Semiconductor Equity Research at JP Morgan Securities, London. He also served as Executive Director/Portfolio Manager at Goldman Sachs Asset Management, London. Earlier in his career, he was Acting Financial Controller at Diamond Bank Limited and an Audit Trainee at Arthur Andersen & Co.

He holds a Bachelor of Engineering Degree in Chemical Engineering from the University of Port-Harcourt and a Master of Business Administration from Harvard Business School.

Commenting on the appointment, Mr. Paul Usoro, SAN, the Chairman of the Bank said:

“Mr. Orji has been appointed based on his exceptionally rich professional, academic, and corporate board experience which will be invaluable to the Bank as we continue to pursue our strategic objectives.

We are confident that his addition to the Board would further enrich the quality of our decision-making process, enabling us to deliver even greater value to our customers and stakeholders.

His appointment has been made in accordance with the Bank’s internal policies and has been notified to all relevant regulatory authorities underscoring our commitment to upholding the highest standards of corporate governance.

On behalf of the Board, Management and staff, I warmly welcome Mr. Orji to the Board and look forward to his contributions towards our goal of becoming one of the top 5 African Banks in the shortest possible time.”

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Go and List Your Challenges, Lagos Speaker tells NANS Member During Courtesy Visit

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Go and List Your Challenges, Lagos Speaker tells NANS Member During Courtesy Visit

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

The National Association of Nigerian Students (NANS), Lagos State University (LASU) branch, on Friday paid a courtesy visit on the Speaker of the Lagos State House of Assembly, Princess Mojisola Lasbat Meranda.

The student representatives said the visit was to congratulate Meranda over her emergence as Speaker of the State Assembly.

Meranda, an alumnus of LASU, was elected Speaker on January 13 after the removal of Mudashiru Obasa by the lawmakers over issues relating to alleged high-handedness and financial impropriety.

Describing her as a thoroughbred Lagosian, the chairman of NANS, Abdulraheem Azeez, used the opportunity to list some of the challenges faced by students in the university.

According to him, students have had to read in darkness as the Ikeja campus gets less than two hours of power supply daily.

Azeez also raised the need for the State to make available loans for indigent students as well as for the Assembly to provide opportunities for students to witness the plenary of the House.

Meranda, while thanking the students for the visit, urged them to always attend town-hall meetings in their constituencies where they can contribute and make their opinions known.

She further encouraged them to apply for the loans initiated by the government as done by students in other countries.

The Speaker requested the students to formally send their complaints in written forms to the House for action.

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EFCC Tasks Corps Members on Corruption

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AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

EFCC Tasks Corps Members on Corruption

The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede charge members of the National Youth Service Corps, NYSC, to be change agents and strong resisting force against corruption.

He also enjoined them to be active foot soldiers and whistle-blowers or intelligence-gatherers against corruption.

Speaking on Thursday, January 30, 2025 at the NYSC Orientation Camp, Yikpata, Edu Local Government Area of Kwara State, Olukoyede said It is important for youths to realise that, these roles, if performed creditably, will bring up appreciable growth in the economy of our nation. He said that, “creative energies of youths will be maximised when corruption is brought to its knees.”

The EFCC boss whose address was delivered by the Head, Public Affairs Department, Ilorin Zonal Directorate of the EFCC, Ayodele Babatunde said that most of the problem confronting the country such as kidnapping, banditry, poor infrastructure, among others were connected to corruption. He added that all hands must be on the deck to tame the cankerworm.

Olukoyede encouraged the youths to embrace the virtues of hard work and shun fraudulent practices such as cybercrime noting that, “it’s profitable to earn dignity and fame through hard work and legit business.”

While calling on the youths to channel their potentials productively and shun crime, the EFCC Chair said that, “Yahoo-Yahoo is not a sustainable way of life.”

“There is no shortcut to wealth and fame. The fact that the rate of unemployment is high should not be an excuse to resort to crime. Act of criminality might deliver wealth in the short term but there will be misery and gnashing of teeth”, he said.

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