House of Reps uncovers N250b missing from government accounts

The Public Accounts Committee (PAC) of the House of Representatives has sounded the alarm over the disappearance of more than ₦250 billion in public funds, as revealed in audit reports from the Auditor-General of the Federation.

Speaking at a press briefing on Tuesday at the National Assembly in Abuja, PAC Chairman Bamidele Salam expressed deep concern over the growing wave of financial irregularities within federal agencies.

According to Salam, the audit reports pointed to serious lapses in accountability, with the massive sum still unaccounted for across several ministries, departments, and agencies (MDAs).

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“We are witnessing a disturbing pattern of financial recklessness in public institutions,” Salam stated, warning that such mismanagement undermines the country’s development goals.

According to him, the Auditor-General’s reports point to a high incidence of unauthorised virements and a growing number of audit queries issued each fiscal year.

He further disclosed that more than 60 percent of Ministries, Departments, and Agencies (MDAs) have consistently failed to comply with financial regulations.

He warned that such persistent disregard for due process continues to erode public trust, undermine sustainable national development, and weaken the country’s democratic institutions.