President Bola Tinubu has yet to sign the Federal Audit Service Bill into law, nearly five months after it was passed by the National Assembly and forwarded for presidential approval, raising fresh concerns about the future of public sector accountability reforms.
The News Chronicle reports that the proposed legislation will help the Office of the Auditor General for the Federation become more independent, set strict deadlines for the submission of government financial records, and give auditors the power to penalize officials who ignore audit inquiries or fail to follow financial reporting rules.
People who support governance and civil society groups have wondered why it took so long, given that the Constitution gives the President 30 days to either sign a bill or explain why they rejected it. Some organizations have pleaded with the National Assembly to think about nullifying the hold.
Should it become law, the measure would increase accountability for public expenditure, create harsher financial controls, and impose penalties for noncompliance. Supporters think the changes might enable the solution of ongoing delays in publishing audited government accounts and boost confidence in Nigeria’s public financial management system.
