The Public Accounts Committee (PAC) of the House of Representatives has called for urgent measures to enhance revenue generation and accountability across government institutions.

During an interactive session at the Office of the Accountant General of the Federation, the Committee, chaired by Hon. Bamidele Salam, engaged Dr. Mrs. Shakirat Madein on critical fiscal challenges confronting the nation.

The session highlighted low capital budget implementation, insufficient revenue remittances, and delayed financial audits as critical issues requiring immediate attention.

Hon Salam emphasized the need for comprehensive automation of revenue collection systems, particularly within government-owned enterprises and foreign missions.

He noted that outdated manual processes were contributing to significant revenue leakages.

The committee urged the Ministries of Foreign Affairs and Interior to collaborate with the Accountant General’s office to resolve automation challenges and ensure transparency in collections from foreign missions.

The chairman also expressed concerns over the delayed submission of Nigeria’s consolidated financial statements while citing studies from Kenya, Ghana, and Rwanda, which showed these countries outperforming Nigeria in submitting and auditing financial reports.

Dr. Madein acknowledged the delays, attributing them to data constraints from the Central Bank of Nigeria (CBN).

She assured the committee that efforts were underway to address the issue, with a commitment.