The Senate Committee on Finance on Thursday, February 12, 2026, grilled the Accountant-General of the Federation (AGF), Dr. Shamsedeen Ogunjimi, over the non-release of 2025 capital funds to Ministries, Departments and Agencies (MDAs), mounting arrears for executed contracts, and questions surrounding an alleged N28 trillion in government revenue.
In a tense budget defence session for the Office of the Accountant-General’s 2026 proposal, committee members expressed outrage at what they called persistent failures in budget implementation, including issues with the Centralised Payment System and the continued reliance on envelope budgeting.
Committee Chairman Senator Sani Musa (APC, Niger East) warned that the committee would not pass the AGF’s budget until concrete reforms are demonstrated. He criticised the envelope system and advocated for performance-based alternatives.
Senator Danjuma Goje (APC, Gombe Central) described budget execution since 2024 as “embarrassing,” pointing out that contractors have been besieging the National Assembly weekly over unpaid bills for completed projects.
He asked: “With subsidy removal and forex unification generating more revenue, where is the money? Why are contractors still owed, and why do most MDAs have zero capital allocation in 2025?”
Senator Muntari Dandutse (APC, Katsina South) pressed directly on the N28 trillion figure: “We hear N28 trillion was generated, yet 85 per cent of contractors remain unpaid and capital votes are zeroed out for many agencies. What happened to that money?”
He also described the Centralised Payment System as “seriously compromised.”Senators Abdul Ningi (Bauchi Central), Asuquo Ekpenyong (Cross River South), Adams Oshiomhole (Edo North), Aminu Abbas (Adamawa Central), and Patrick Ndubueze (Imo North) raised similar concerns, suggesting possible internal sabotage of fiscal processes.
They urged the AGF to brief President Bola Tinubu on the gravity of the situation.Responding, Dr. Ogunjimi said his office can only release funds when they are provided, blaming MDAs for awarding contracts without secured funding, a practice recently banned by the federal government.
He acknowledged challenges with the Centralised Payment System but noted ongoing improvements, and highlighted the end of “Ways and Means” financing as a positive step for fiscal health.
The public session ended without resolution, as the committee moved into a closed-door meeting with the AGF for further discussions.
Lawmakers have indicated they may withhold approval of the 2026 budget for the Accountant-General’s office unless greater transparency and efficiency are assured, reflecting wider anxieties about revenue management, contractor payments, and capital project delivery under the current administration.
Click to signup for FREE news updates, latest information and hottest gists everyday
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com