The House of Representatives in Nigeria has mandated the Offices of the Accountant-General and Auditor-General to compile and submit the consolidated financial statements for the federal government covering the years 2023, 2024, and 2025 by October 2026. This directive came during an investigative hearing held by the Public Accounts Committee focused on the significant delays in financial reporting and the effectiveness of the public financial management systems in place. Lawmakers emphasized the critical need for timely and accurate reporting to ensure transparency and accountability within government finances.

During the hearing, concerns were raised regarding a particular payment of 9.8 billion Naira made to vendors of the Government Integrated Financial Management Information System in 2024, especially since the system has yet to deliver on its primary mandate of ensuring the accurate and timely reconciliation of government accounts. The committee believes these financial management lapses undermine the credibility and reliability of Nigeria's financial reporting framework. The scrutiny highlights the ongoing struggles within Nigeria's financial management systems and the government’s need for reform to enhance public trust.

The Chairman of the Committee, Mr. Bamidele Salam, expressed his dissatisfaction with the persistent non-compliance behavior exhibited by the Accountant-General's office concerning statutory financial reporting obligations. The decision to enforce stricter compliance deadlines seeks to address these ongoing issues and restore faith in Nigeria's governance and fiscal frameworks. This action reflects a broader commitment by lawmakers to pursue accountability and transparency in the management of public funds, particularly in an environment where financial mismanagement is often under scrutiny.