Auditor-General Exposes CAC’s N118.75m Undocumented Spending on Lawmakers

The Auditor-General of the Federation has uncovered N118.75 million in undocumented expenditures by the Corporate Affairs Commission, including payments to National Assembly members for oversight visits, a revelation that highlights systemic weaknesses in Nigeria’s public financial management.....TAP TO CONTINUE READING

Key Points:

CAC spent N118.75 million without invoices, memos, or purchase orders.
Payments were linked to oversight visits by National Assembly committees.
Six official vehicles were found in the custody of the supervising ministry.
N123.94 million was paid to external solicitors without AGF approval.
The Auditor-General rejected CAC’s explanations as unsatisfactory.
Recovery of funds and assets has been recommended.
Failure to comply may lead to sanctions under financial regulations.

This audit exposes not just procedural lapses, but a deeper erosion of accountability, raising questions about who watches the watchers in Nigeria’s governance ecosystem.

Sources: Auditor-General’s Report, Premium Times