Reps Sound Alarm Over ₦250 Billion Missing Public Funds

By Oluwakemi Kindness

The House of Representatives’ Public Accounts Committee (PAC) on Tuesday voiced serious concern over the disappearance of over ₦250 billion in public funds, as uncovered in recent audit reports from the Auditor-General of the Federation.

Chairman of the committee, Rep. Bamidele Salam, made the disclosure during a press briefing at the National Assembly in Abuja on Tuesday.

According to Rep. Salam, audit findings indicate that the enormous sum remains unaccounted for across multiple government agencies.

He decried the growing trend of financial mismanagement within public institutions, noting a disturbing rise in unauthorised virements and a surge in audit queries issued annually.

Rep. Salam further revealed that over 60 percent of Ministries, Departments, and Agencies (MDAs) have consistently flouted established financial regulations.

He warned that this persistent neglect of due process is undermining public trust, threatening sustainable national development, and weakening Nigeria’s democratic institutions.

And in response to these alarming revelations, the Public Accounts Committee is set to convene a **National Conference on Public Accounts and Fiscal Governance (NCPAFG)** in Abuja.

The high-level gathering forms part of the 10th People’s House Legislative Agenda, which prioritizes the promotion of good governance as a cornerstone for sustainable development.

Rep. Salam described the upcoming conference as a bold and strategic initiative by the House of Representatives to reform Nigeria’s fiscal governance and public financial management systems.

The goal, he said, is to foster greater transparency, enhance efficiency, and promote robust accountability across all tiers of government.

The conference will be held under the theme: “Fiscal Governance in Nigeria: Charting a New Course for Transparency and Sustainable Development.”