Forensic audit of 81 government revenue generating agencies will be carried out by two audit firms following the decision of the National Economic Council (NEC) at its 65th meeting on Thursday, January 28 in Abuja.
The decision of the NEC was subject to the submission of the interim report by the ad hoc committee of NEC, presided over by by Adams Oshiomhole, governor of Edo state, to review the management of the Excess Crude Account and returns into the Federation Account.
The governors of Jigawa, Baderu Abubakar; Anambra, Willie Obiano; Lagos, Akinwumi Ambode; and the Minister for Budget and National Planning, Udoma Udo Udoma, revealed this in a joint briefing of newsmen
Governor of Lagos state, Akinwunmi Ambode stated that 18 core revenue generating agencies, such as NNPC, will be audited by KPMG, an international audit firm while other non-core revenue genrating agencies will be audited by indigenous firm, SIAO.
He also said that after the audit had been completed, the NEC would take further actions on the agencies.
Obiano discussed MDAs receiving revenue in foreign currencies and paying into the Federation Account in local currency.
The governor stated that the permanent secretary, Ministry of Finance, reported that besides NNPC, NIMASA and NPA, other agencies that practiced such are FIRS, Shippers Council, Airport Authority and Nigeria Immigration Service.
He however noted that the initiation of the Treasury Single Account (TSA) had resolved the problem as all account was under the Central Bank of Nigeria.
Jigawa state governor while speaking said that as at December 31, 2015 the Excess Crude Account had $2.26 billion as reported by the Accountant-General of the Federation.
He also revealed that the CBN governor, Godwin Emefiele told the NEC of the standing of the bailout funds sent to states.
According to the reports, 23 states got from N10 billion each from Excess Crude Account-backed soft loan while presidential bailout for the payment of salaries were given to 28 states.