The House of Representatives Public Accounts Committee has expressed serious concern following revelations of over ₦250 billion missing from government accounts, as detailed in recent audits by the Office of the Auditor-General of the Federation.
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Committee Chairman, Bamidele Salam, addressed journalists on Tuesday at the National Assembly in Abuja.
He noted that the audit documents uncovered widespread financial discrepancies across multiple government bodies.
Salam described the findings as alarming, citing a pattern of worsening financial misconduct within public institutions.
He pointed out that the reports identified a surge in unauthorised budget reallocations and a rise in audit queries year-on-year.
He further revealed that more than 60 percent of Ministries, Departments, and Agencies (MDAs) have repeatedly ignored established financial procedures.
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This systemic non-compliance, he warned, poses a serious threat to public accountability, hampers national development efforts, and weakens democratic governance.
