President Muhammadu Buhari has ordered a quiet forensic audit of revenue generating agencies to establish their level of remittances to the federation account from 2010 to May 2015. The audit which was one of the multi-layered investigations of the Goodluck Jonathan administration has returned a verdict of under-remittances and other fiscal discrepancies including some agencies giving out illegal loans.

A total of 18 agencies were penciled down for the audit out of which work had been concluded in 13 namely NIMASA, NNPC, NPA, FIRS, NPDC, DPR, etc.  The 2 outstanding agencies are the Customs Service and Nigerian Communications Commission, NCC. Work is ongoing in two.

This was contained in the interim report on the forensic audit of revenue accrued from revenue generating agencies into federation account, excess crude account and consolidated revenue fund. The investigating adhoc committee was chaired  by Governor of Gombe State, Ibrahim Dankwambo presented to the National Economic Committee. Highlights of the report include:

• The forensic audit covers the period from 2010 – May 2015.
• The Council was informed that there were possible significant under-remittances from certain Revenue Generating Agencies to the Federation Account, among other accounts.
• Council was also informed of questionable loans granted by some of the Revenue Generating Agencies.
• Out of the 18 Agencies in which forensic audit was conducted, the Committee completed work on 13 Agencies, 2 are ongoing and 3 are not revenue generating.

.The 13 include: NIMASA, NNPC, NPA, FIRS, NPDC, DPR, etc.  The 2 outstanding agencies are the Customs Service and NCC.

• Council directed the Committee to conclude its report under 4 weeks and fully report back to Council in the next meeting