Akwa Ibom Assembly Cautions MDAs Against Financial Mismanagement

The committee on public accounts of the Akwa Ibom State House of Assembly has issued warnings to the state’s ministries, departments, and agencies for their noncompliance with financial regulations.

The committee’s chairperson, Eric Akpan, stated this during the ongoing hearing on the 2023 Budget Audit Report submitted by the Office of the Auditor General, as obtained by our correspondent in Uyo on Sunday.

Akpan, lamenting that several agencies were found to have weak internal controls, which posed potential risks of financial mismanagement and fraud, vowed that his committee would leave no stone unturned in recovering misappropriated funds for the government’s coffers.

“Government revenues should not be treated and expended as personal funds. There must be proper documentation to account for expenditures. My committee will do all in its power to recover all misappropriated funds back to government coffers,” Akpan stated.

He emphasised the importance of MDAs maintaining accurate records and adhering to established financial protocols to foster public trust in government operations. Akpan warned that defaulting MDAs would henceforth be held accountable.

“We are committed to ensuring that all government agencies adhere to the highest standards of financial management. By holding defaulting MDAs accountable and implementing stringent oversight measures, we aim to restore and maintain citizens’ confidence in the government’s financial integrity,” he said.

The audit, now in its fourth day of hearings for the fiscal year ending 2023, underscored the importance of MDAs adhering to financial standards. The committee identified multiple instances where MDAs failed to comply with regulations, resulting in discrepancies in budget allocations across the state.

The 2023 Budget Audit Report further highlighted instances where required documentation was incomplete or missing, undermining the integrity of financial reporting by MDAs.
The hearings mark a significant step towards greater accountability and transparency in government operations, reinforcing the State House of Assembly’s commitment to upholding the principles of good governance and financial integrity.

The day’s session included representatives from 20 MDAs, who appeared before the committee to provide insights into their financial activities during the audited fiscal year.