House of Representatives through the Committee on Steel Development has frowned at the poor account submissions by the Ministry, Departments, and Agencies (MDAs) under its supervision.
The committee’s chairman, Hon Zainab Gimba expressed the feelings at the 2023 budget appraisal meeting with the Ministry of Steel Development and related agencies on Tuesday.
Gimba said findings from documents submitted by the Ministry and the agencies showed that there is a basic and vital omission of a common factor of failure to obtain valid bank statements from the Central Bank of Nigeria (CBN) to produce standard bank reconciliation statements.
“This omission calls for a credibility question, on the resultant financial statements from such a weak accounting system.
An efficient accounting system and effective internal control system are comforts that ensure compliance with Laws, rules, regulations, and standard that supports the discharge of quality oversight function.
“We shall maintain uncompromising guidance towards achieving results. This is the essence of oversight in parliamentary representation. It may interest you to note that it has been observed that the Ministry and Agencies are obscured to have access to bank transactions activity on the IPPIS platform.
“It is obvious there exists a knowledge gap concerning proper understanding of the digital accounting environment and processes. Hence, you could operate comfortably without having access to your bank statement to execute periodic bank reconciliation statements,” she said.
Meanwhile, the House Committee on Rural Development reiterated its commitment to improving infrastructure in the rural areas across the country.
Chairman of the Committee, Hon. Marcus Onobun gave the assurance in Abuja during the Committee’s inaugural meeting.
He said: “I am most honored to be chosen as the Chairman of this committee as we are at a pivotal point in Nigeria where we can’t afford to get it wrong. This is one committee that directly affects the 360 members of the House as we all represent rural communities.
“In fact, it is important to note that it is the constituents of these rural areas that chose us to represent them in order for them to enjoy the dividends of democracy.
“If you look closely at the composition of all the committees, you’ll discover that this Committee is one of the few that has exceeded the membership number of 40 prescribed by the House. This goes to show the importance of the committee.”
We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →
Join Our WhatsApp Channel
