The Senate, through its Finance Committee, has issued a stern warning to government agencies, threatening zero allocation in the 2025 budget for those failing to appear before it to account for funds allocated in the 2024 fiscal year.
During its session on Monday, the committee expressed dissatisfaction with irregularities discovered in the financial records of several agencies.
The warning emerged during an investigative hearing on internally generated revenue, fiscal accountability, and Nigeria’s financial management system.
Specifically, the Chairman of the Committee, Sani Musa (APC Niger East), in his closing remarks after an interface with the Accountant-General of the Federation, Oluwatoyin Madein, said any agency that failed to appear before the committee risks zero allocation for 2025 fiscal year.
“This performance index exercise on the various MDAs is preparatory to the 2025 budget. Any agency that fails to appear before this committee upon invitation risks zero allocation in the 2025 budget because records of how appropriations made for 2024 are expended must be provided with facts and figures,” he said.
