WATCH THE VIDEO HERE The Senate, through its Finance Committee, has issued a stern warning to government-owned agencies that fail to provide proper expenditure records from the 2024 fiscal year. Chairman of the Finance Committee, Senator Sani Musa, who issued the threat on Monday during an investigative hearing, underscored that the committee will withhold allocations to any agency that does not comply with its summons for scrutiny. In an interface with the Accountant General of the Federation, Missus Oluwatoyin Madein, the committee expressed dissatisfaction with the centralized payment system managed by the Office of the Accountant General also came under scrutiny as members frowned upon delays in the release and utilization of capital budgets. The committee’s dissatisfaction stemmed from irregularities discovered in the expenditure records of some agencies. The investigative hearing focused on the remittance of internally generated revenue, fiscal accountability, and the overall state of Nigeria’s financial management system. During the session, the Accountant General of the Federation, Oluwatoyin Madein, presented a summary of federal government revenues up to September 2024, reporting:
2025 budget: Senate threatens zero allocation for non-compliant agencies
