Federal Government Orders MDAs to Publish Audited Accounts by 2027

The Federal Government has directed all ministries, departments, and agencies (MDAs) to submit their audited financial statements for publication in the first quarter of 2027. This directive was announced by Finance and Coordinating Minister of the Economy Taiwo Oyedele at the 56th Annual Accountants’ Conference of the Institute of Chartered Accountants of Nigeria (ICAN) in Abuja.

Oyedele stated that government financial reports should be routine, accessible, and open to public scrutiny. The enforcement of compliance and potential sanctions for agencies with outstanding audits remain unclear.

The latest audit report submitted to the National Assembly covers 2024 and was received in July, while the 2025 report is still pending. Experts have noted that mere publication will not ensure accountability without independent audits and oversight.

ICAN President Queensley Seghosime emphasized the importance of credible reporting for public confidence in government finances. Zacch Adedeji, Executive Chairman of the Nigeria Revenue Service, urged ICAN to enhance its role in policy formulation.