Reps Committee on Steel Development Decries MDAs’ Poor Account Submissions
Gloria Essien, Abua
The House of Representatives Committee on Steel Development, has frowned at the poor account submissions by the Ministry and agencies under the committee’s purview.
The Chairman of the Committee, Hon Zainab Gimba, during the 2023 budget appraisal meeting with the Ministry of Steel Development and related agencies, in Abuja, said that the agencies were also not forthcoming in presenting their submissions.
Hon Gimba also said that findings from documents submitted by the Ministry and agencies show clearly that there are basic and vital omissions of a common factor of failure to obtain valid bank statements from the Central Bank of Nigeria (CBN) to produce standard bank reconciliation statements.
“This omission calls for a credibility question, on the resultant financial statements from such a weak accounting system. Efficient accounting system and effective internal control system are comforts that ensures compliance to Laws, rules, regulations and standard that supports discharge of quality oversight function.
“We shall maintain uncompromising guidance towards achieving results. This is the essence of oversight in parliamentary representation.
“It may interest you to note that it has been observed that the Ministry and Agencies are obscured to have access to bank transactions activity on the IPPIS platform. Notwithstanding, there is access to GIFMIS transactions listing, which is a database managed by Accountant General and it’s not the bank statement. Bank statements should come from the database managed by CBN.
She added: “The GIFMIS transactions listing doesn’t suffice as a bank statement. The required bank statement should be a complete ledger in columnar format showing transaction date, description/particularly, debit, credit and balance.
“It is obvious there exists a knowledge gap concerning proper understanding of the digital accounting environment and processes. Hence, you could operate comfortably without having access to your bank statement to execute periodic bank reconciliation statements,” she said.
Reliable and Sustainable
She noted that steel development was a more reliable and sustainable driver of economic growth in Nigeria than petroleum, considering the potential of steel to turn around the nation’s economy and to attract the much needed foreign exchange for the country.
The Chairman stressed that the Committee was ready to refuel and replenish continuously where necessary in its quest to deliver on its mandate.
“That is to say that only the best should be expected from us, even as we are lucky to have square pegs in square holes as members of the House Committee on Steel Development.
“Permit me to note the delay, setbacks and hitches in convening this crucial meeting is due to late submission of requested documentations from the Ministry and some agencies who were not able to meet up with deadlines.
“Flowing from this debilitating development and considering the enormity of the job ahead, as we get ready for the presentation and defence of the 2024 Budget, we will not condone any late response from any Head of Agency who fails to meet up with stipulated timelines.
“The House Committee on Steel Development using its all inclusive work plan, is determined and poised to energetically make a sharp difference towards realizing our goals via robust engagement with all stakeholders, including private sectors.
“In order to improve the quality of our work, there is a necessary need for staff training and development in order to ensure uniform reporting, enhance the system efficiency and effectiveness,” she added.
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