FG Orders MDAs To Publish Audited Accounts By Q1 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.

The directive is part of efforts to strengthen transparency and bring public spending under closer scrutiny.

The directive was announced by the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr. Taiwo Oyedele, at the 56th Annual Accountants’ Conference of the Institute of Chartered Accountants of Nigeria, ICAN, in Abuja.

Oyedele said government financial reports and policy statements should be routine, easy to access and open to public scrutiny, just as individuals regularly receive their own bank statements.

According to him, making audited accounts public will help Nigerians understand how public funds are managed and will boost confidence in the fiscal system.

It remains unclear how compliance will be enforced, whether agencies with outstanding audits will be sanctioned, or what consequences will follow if irregularities are found.

The directive comes amid persistent delays in audit reporting. The latest audited report submitted to the National Assembly covers the year 2024 and only reached lawmakers in July 2026. The 2025 report is still outstanding, raising concerns about accountability gaps.

Experts have said that publication alone will not guarantee accountability. They argue that the accounts must be independently audited, published in accessible and understandable formats, reviewed by oversight bodies, and followed by corrective actions where financial breaches are discovered.

Speaking at the conference themed “Beyond Numbers: Strengthening the Economy, Securing the Nation,” the President of ICAN, Mrs. Queensley Seghosime, said public confidence in government finances rests on credible reporting and independent audits.

“Trust is the true currency of every economy,” she said.

Seghosime noted that the economy grew by about 4.2 per cent in the first half of 2026, but stressed that the growth must translate into better jobs, improved public services and better living standards for Nigerians.

She also urged accountants to resist pressure to compromise their independence and professional ethics as the 2027 general elections approach.

On his part, the Executive Chairman of the Nigeria Revenue Service and special guest of honour at the event, Dr. Zacch Adedeji, urged ICAN to play a bigger role in national policy formulation beyond its regulatory mandate.

About 12,000 delegates attended the conference physically and virtually, according to ICAN, which has more than 72,000 members nationwide.