Reps Committee Raises Alarm Over Missing ₦250bn in Public Funds

The House of Representatives Public Accounts Committee has expressed deep concern over the disappearance of over ₦250 billion from government coffers, as revealed by recent audit reports from the Office of the Auditor-General of the Federation.

Chairman of the committee, Hon. Bamidele Salam, disclosed this on Tuesday, June 3, 2025, during a media briefing at the National Assembly in Abuja. He described the situation as alarming and symptomatic of deepening financial irregularities across Ministries, Departments, and Agencies (MDAs).

According to Salam, the audit reports highlight an ongoing pattern of unauthorised virements, increasing audit queries, and a blatant disregard for financial regulations by more than 60 percent of MDAs. He warned that this trend is eroding public trust and weakening the foundation of Nigeria’s democracy and developmental goals.

“This level of non-compliance undermines transparency, fuels corruption, and threatens sustainable national development,” Salam said. He added that the committee is committed to pursuing accountability and ensuring that erring institutions and individuals are held responsible.