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The Senate is investigating into the financial records of 774 federal agencies including the Nigerian National Petroleum Corporation Limited, and the Nigerian Maritime Administration and Safety Agency.
The investigation became imperative following the queries raised against them in the 2019 report of the Auditor General for the Federation.
The Chairman, Senate Public Account Committee, Aliyu Wadada, disclosed this in Nasarawa State.
According to him, “We are currently looking into the books of 774 MDAs to see what was appropriated to them and check whether they judiciously utilized the funds. We shall be compiling our reports every quarter and we will be making them public after their adoption by the Senate in plenary.
“There are also status inquiries where we are looking into the financial transactions of revenue-generating agencies like the Nigerian National Petroleum Corporation Limited, the Nigerian Maritime Administration and Safety Agency, among others which are before us for scrutiny,” he stated.
Wadada said the committee would discharge its responsibilities diligently in the country’s best interest.
He said the 10th National Assembly with the support of President Bola Tinubu and critical stakeholders in the nation’s economy would soon embark on the amendment to the 2007 Procurement Act to curb financial infractions before they occur.
