By Kassim Omomia
The Apex Central Bank of Nigeria is to render accounts of its financial operations between 2014-2019 to the Public Accounts Committee of the House of Representatives
Governor of the Bank, Godwin Emefiele is to appear before the committee on Thursday to shed light on its financial activities for the period under review, Chairman of PAC,Honorable Oluwole Oke has said
“As for rendition of accounts, we have a referral from the House to investigate non-rendition of accounts. We have written CBN on this and one of their directors appeared and carefully took a date to render the account if any. But if they have not, we will all see it when they appear, so that is the situation.
“They are coming here next week Thursday. I mean they were here Thursday, we invited them and they honoured our invitation. The governor could not come, but he sent a very senior director. We are talking about 2014 to 2019, Oke added
He explained that the Public Accounts Committee had written the Apex bank and other government agencies to appear before it to show evidence that they have rendered accounts of their expenditures.
“Like I have told you we had written CBN just like we had written every other Corporation to come to the Parliament to show us evidence of rendition of the audited accounts. So the Director appeared yesterday on behalf of Central Bank and he took a date. So we would be expecting them to come with copies of their audited accounts for the period under review and evidence of rendition to the Auditor General.”
Honorable One who spoke to newsmen weekend, noted that for the purpose of clarity on whether CBN complies with rendition of accounts and powers of the Auditor General to audit Central Bank account, the Constitution , he argued has settled the matter in section 25 sub 3.
He explained that even though, the Auditor General cannot directly audit accounts of CBN, NNPC, NPA, NIMASA, Shippers Council, Section 85 paragraph three, states that the Auditor General shall have only powers to conduct periodic checks from where he forms an audit opinion.
“Secondly, the external auditor that these Corporations engage are engaged based on the advise of the Auditor General”
” As a matter of fact, the Auditor General must accredit those external auditors, now the external auditors on the conclusion of the audit of these Corporations submit the account to the Corporations.
Oke explained further that the Corporations are mandated by the Constitution to submit their accounts so audited by the external auditor and the Auditor General in turn engages consultants or their personnel to review the audited account submitted by these corporations, and thereafter make his report before the parliament
He stated that through the periodic checks and balances, the Auditor General is expected to have an unlimited access to records but in cases where they have challenges conducting checks on the corporation’ s books, they are at liberty to report to the house committee on Public Accounts for intervention.
Hon Oke informed that the office of the Auditor General of the Federation is an independent office.
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” They are not under anybody’s control except the Parliament, because this committee pursuant to Order 18 Rule 6 oversights the office of the Auditor General of the Federation,” the PAC Chairman stressed.
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