N4.97tr: Auditor General clarifies alleged missing money from federation account

The Auditor-General for the Federation (AuGF), Adolphus Aghughu, has said that no money was missing from the Federation Account.

Aghughu revealed this in a statement by Eme Oqua, Head of Press, Office of the Auditor-General for the Federation (OAuGF) in Abuja.

NAN reports that Aghughu was reacting to recent reports in some Nigerian media, that N4.97 trillion was misappropriated from the federation account following his appearance at the senate.

Aghughu explained that the ‘unsubstantiated balances of N4.97 trillion’ stated in his address during submission of Consolidated Financial Statements of the Federal Government for 2019 to the Clerk of the National Assembly were not misappropriation of funds.

He said, “The AGF states the materiality was determined in the context of likely errors and unsubstantiated balances amounting to N4.97trillion in the course of the audit, which was above the materiality level of N89.34 Billion set for audit.

“This statement was made as one of the bases for ‘qualified opinion’, the qualified opinion notwithstanding, the Federal Government of Nigeria Consolidated Financial Statements for the year ended Dec. 31, 2019, was true and fair.”

Aghughu urged the general public to be guided by his clarifications as there was no money missing from the Federation Account of the Federal Republic of Nigeria.

JUSUN blasts Accountant-General, Attorney-General, Auditor-General over prolonged strike