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Reps panel chides FMBN, TETFUND over unaudited accounts



House of Representatives Committee on Public Accounts, yesterday, chided the Federal Mortgage Bank of Nigeria (FMBN) and Tertiary Education Trust Fund (TEFFUND) for their failure to present their audited accounts for five years.

The position of the Wole Oke-led panel was based on queries issued by the Office of the Auditor-General of Federation (OAGF) on government ministries, departments and agencies (MDAs).


Oke, who presided over the committee’s proceedings, specifically queried the Managing Director of FMBN, Ahmed Dangiwa and other officials on the infraction.

He observed that report of the OAGF on the MDAs indicated that the revenue profile of FMBN and TETFUND had been on the decline over the years.

Oke expressed disappointment over their non-compliance with provisions of the laws on audited accounts despite having previously appeared before the committee on the issue.


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