Federal Government’s bid to borrow $29 billion from external sources may be stalled by some institutional lapses inherent in the system.
Some senators have pointed out that such loans and grants from external sources must be accompanied by a confirmation report by a substantive Auditor General for the Federation before the funds were released.
The lawmakers said standards set by global financial institutions like the World Bank, the International Monetary Fund, IMF, and the African Development Bank, ADB, required confirmation report from a substantive Auditor General before the funds were disbursed to recipient countries.
Chairman of the Senate Committee on Appropriation, Senator Danjuma Goje had expressed doubts over the workability of the loan request during an interactive session with the Minister of Finance, Mrs. Kemi Adeosun, and the Minister of Budget and Planning, Senator Udoma Udo Udoma, on Thursday.
“I just hope that the federal government will succeed in obtaining these loans with the situation on ground,” Senator Goje had stated at the session with the ministers.
Adeosun, however, assured the Senate committee that necessary steps were being taken by the federal government to ensure a smooth sail for the loans.
Nigeria presently does not have a substantive Auditor General since the retirement in May of the last occupant, Mr. Samuel Ukura, while the tenure of Mrs. Florence Anyanwu who is acting in that capacity has also expired.
The Public Accounts Committee in the two chambers of the National Assembly have observed lack of coordination and poor quality of presentations by staff of the Office of the Auditor General in the absence of a substantive head.
The office of the Secretary to the Government of the Federation, SGF, had in May directed the Federal Civil Service Commission, FCSC, to set in motion machinery for the appointment of a new Auditor-General for the Federation.
The memo from the SGF, with reference 58365/S.3/11/82, dated May 25, 2016, was signed by Mohammed Bukar, permanent secretary (General Services) office of the SGF.
The FCSC had in July shortlisted and forwarded the names of three candidates for the position to President Muhammadu Buhari after written and oral interviews.
The shortlisted candidates were Christopher Nyong, Nabasu Bako and Omoniyi Adeyeye.
President Buhari is said to have since forwarded the names of the candidates to a seven-man committee set up by him to determine the best man for the job.
Indication emerged last week that the seven-man committee had since submitted its report and recommendations for approval by the president, but that the report is being kept in abeyance.

READ ALSO  INEC registers 69,000 eligible voters in Bayelsa