Senate Gives BOA One-Week Ultimatum Over Audit Queries

News in Brief:

—Nigeria's Senate ordered the Bank of Agriculture to appear before it within one week and answer unresolved audit queries after failing to honour an invitation.

—The bank stated that it had attended several sessions with the committee between February 2023 and November 2024, and resolved issues.

The Bank of Agriculture (BOA) has come under intense scrutiny after the Senate Committee on Public Accounts gave the institution a one-week ultimatum to appear before it and explain outstanding audit queries.

The committee issued the ultimatum on Tuesday during its hearing at the National Assembly after BOA, the Nigerian Security Printing and Minting Company (NSPMC), and the Rural Electrification Agency (REA) failed to honour the panel's invitations. 

Senator Ibrahim Dankwambo, who chairs the committee, expressed strong displeasure over the absence of the agency heads, describing it as a challenge to the National Assembly’s constitutional oversight role.

The committee secretary informed lawmakers that the bank had sent a letter through its legal adviser, noting that it had appeared before the committee on several occasions between February 2023 and November 2024.

The financial institution stated that the issues raised during those engagements had been resolved with the committee and other relevant government authorities. It demanded details of any outstanding matters as well as a two-week window to gather the necessary documents.

Senate Rejects Timetable

The Senate committee rejected the bank's request outright. Dankwambo said agencies cannot determine the timetable for legislative hearings and criticised the bank for sending a letter signed by an official below the rank of Managing Director and Chief Executive Officer. He insisted that agency heads must personally sign all correspondence relating to committee invitations.

The lawmakers also faulted BOA for failing to present its Managing Director, Ayodele Sotinrin, before the panel to answer questions on the audit issues. 

After deliberations, the committee directed that Sotinrin must appear in person within one week to respond to the outstanding queries. 

It also said the same one-week grace period would apply to the other defaulting agencies, with their chief executive officers expected to appear and address the pending audit observations. 

Lawmakers also condemned the absence of NSPMC chief executive Abubakar Minjibir and REA chief executive Abubakar Aliyu. They warned that such disregard for summons undermines transparency and accountability in public administration.

The lawmakers said audit queries are serious issues arising from constitutionally recognised oversight processes, and public institutions should not treat them lightly. They warned that agencies that fail to honour the final invitation would face sanctions in line with the committee’s powers.