Reps Set October 2026 Deadline for Delayed Financial Accounts

The House of Representatives Public Accounts Committee, chaired by Bamidel Salam, has mandated the Auditor-General and the Accountant-General to submit the delayed financial accounts by October 2026. This decision was made during an investigative hearing where lawmakers expressed concern over the persistent failure to submit consolidated financial statements and audit reports within statutory timelines.

Salam described the recurring delays as unacceptable and warned that continued non-compliance could lead to legislative sanctions. The Fiscal Responsibility Act requires the federal government to publish audit statements no later than six months after the financial year ends.

The committee noted that the delays undermine fiscal discipline and weaken institutional credibility, negatively impacting investor confidence. Shuaibu Sikiru, the Director of Consolidated Accounts, attributed the delays to operational challenges, including incomplete bank statements and technical limitations within the Government Integrated Financial Management Information System (GIFMIS).

The committee emphasized the need for timely financial reporting to restore public confidence in government finances.