Accountant General Urged to Fix Billions in Missing Government Cash

By: Fatou Krubally

The Accountant General’s office is under pressure to address serious gaps in the management of public funds after it emerged that billions of dalasis remain unaccounted for in government financial records. Auditors have highlighted omissions, unapproved accounts, and discrepancies that threaten the accuracy of the nation’s financial statements.

A recent management letter revealed that 187 government bank accounts in commercial banks were left out of official financial statements, while fifty-one accounts were opened without the Accountant General’s required approval. Such omissions compromise oversight, making it difficult to track public money accurately.

The audit also found that efforts to verify balances were incomplete. Two major banks FBN and AGIB had not responded to requests for account confirmations, leaving significant gaps in financial reporting.

Meanwhile, the reconciled cash balances reported in official statements differ from actual figures by over D7 billion, with some opening balances overstated by as much as D10 billion.

Auditors have recommended immediate action, urging the Accountant General’s office to investigate and correct all discrepancies, obtain missing confirmations, and ensure all accounts are properly approved and disclosed. In response, the office said adjustments are being made in revised financial statements for 2021 and 2022, but several issues remain unresolved.

Financial experts warn that continued delays could undermine public trust in government finances. “The Accountant General plays a crucial role in ensuring accountability. When gaps, this large exist, it raises serious questions about financial governance,” said one independent analyst.

As the office tasked with safeguarding public funds works to regularize accounts and reconcile billions of dalasis, all eyes are on the Accountant General. Citizens and stakeholders alike will be watching to see whether corrective actions restore credibility and ensure transparency in the management of government resources.

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 By: Fatou Krubally The Accountant General’s office is under pressure to address serious gaps in the management of public funds…
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