EDITORIAL
Evolution of Nigeria’s Presidency from 1960
By Mathew Dadiya
Today, October 1, Nigeria marks her 60th independence anniversary as a nation freed from the shackles of the colonial masters. Since the amalgamation of the Northern and Southern protectorate in 1914, the world’s most populous Black nation had suffered a various form of injustice, dehumanization, degradation as well as the changed identity that ended up in distorting the culture, religion, history and peaceful existence of the people.
Independence by its definition is a condition of a person, nation, country, or state in which its residents and population, or some portion thereof, exercise self-government, and usually sovereignty, over the territory.Being independent offers us the freedom and flexibility to live life the way we choose, whether from a financial, political, relationship, or career standpoint. Not relying on anyone else to do everything for us, opens countless possibilities.
Daily Asset in its Special Independence Edition, looks at the journey so far, the various leaders that had led the country in the past six decades and what impacts their leadership have had on the people and country.
True independence and freedom, according to Brigham Young, can only exist in doing what’s right.
The President of the Federal Republic of Nigeria is the head of state and head of government of the country. The president of Nigeria is also the commander-In-Chief of the Armed Forces and is elected in national elections which take place every four years. The offices, powers, and titles of the head of state and the head of government were officially merged into the office of the presidency under the 1979 Constitution of Nigeria. The current president, Muhammadu Buhari, took office on May 29, 2015, as the 16th president of the Federal Republic of Nigeria.
The Nigerian president has the powers entrusted by the Constitution and legislation, including those necessary to perform the functions of head of state and head of the national executive.
The key functions of the president of Nigeria are: Assenting to and signing bills; Referring a bill back to the National Assembly for reconsideration of the bill’s constitutionality; Referring a bill to the Supreme Court for a decision on the bill’s constitutionality; Summoning the National Assembly to an extraordinary sitting to conduct special business; Making any appointments that the Constitution or legislation requires the president to make, other than as head of the national executive; Appointing commissions of inquiry; Appointing the Supreme Court justices of Nigeria on the recommendation of the National Judicial Council of Nigeria and subject to confirmation by the Senate; Calling a national referendum in terms of an act of Parliament; Receiving and recognising foreign diplomatic and consular representatives; Appointing ambassadors, plenipotentiaries, and diplomatic and consular representatives and other federal officers with the advice and consent of a majority of the Senate; Pardoning or reprieving offenders and remitting any fines, penalties or forfeitures; and Conferring honours.
Nigeria’s Presidents since Independence 1960 to date:
ALHAJI ABUBAKAR TAFAWA BALEWA, 1960 – 1966; CHIEF BENJAMIN NNAMDI AZIKIWE, OCTOBER 1, 1963 – JANUARY 16, 1966; MAJOR GENERAL JOHNSON THOMAS UMUNNAKWE AGUIYI IRONSI, JANUARY 16, 1966 – JULY 29, 1966; GENERAL YAKUBU GOWON, AUGUST 1, 1966 – JULY 29, 1975; GENERAL MURTALA RAMAT MOHAMMED, JULY 29, 1975 – FEBRUARY 13, 1976; GENERAL OLUSEGUN AREMU OKIKIOLA MATTHEW OBASANJO, FEBRUARY 13, 1976 – OCTOBER 1, 1979, SHEHU USMAN ALIYU SHAGARI, OCTOBER 1, 1979 – DECEMBER 31, 1983; MAJOR-GENERAL MUHAMMADU BUHARI, DECEMBER 31, 1983 – AUGUST 27, 1985, GENERAL IBRAHIM BADAMASI BABANGIDA, AUGUST 27, 1985 – AUGUST 27, 1993; CHIEF ERNEST ADEKUNLE OLADEINDE SHONEKAN, AUGUST 26, 1993 – NOVEMBER 17, 1993; GENERAL SANI ABACHA, NOVEMBER 17, 1993 – JUNE 8, 1998; GENERAL ABDULSALAMI ALHAJI ABUBAKAR, JUNE 9, 1998 – MAY 29, 1999; GENERAL OLUSEGUN AREMU OKIKIOLA MATTHEW OBASANJO (RTD), MAY 29, 1999 – 29 MAY, 2007; UMARU MUSA YAR’ADUA, 29 MAY, 2007 – 5 MAY, 2010; DR. GOODLUCK EBELE JONATHAN, 6 MAY, 2010 – 29 MAY, 2015; and MUHAMMADU BUHARI, 29 MAY, 2015 – DATE.
Nigeria’s first Prime Minister, Balewa, entered the government in 1952 as Minister of Works. He later served as Minister of Transport. He never aspired to be the leader of Nigeria. In 1957, he was elected Chief Minister, forming a coalition government between the NPC and the National Council of Nigeria and the Cameroons, led by the late Owelle of Onitsha, Dr Nnamdi Azikiwe.
Along with many other leaders who included Ahmadu Bello, Balewa was overthrown and murdered in a military coup on January 15, 1966. The mystery surrounding his death still remains unsolved till date as his body was discovered by a roadside near Lagos six days after he was ousted from office. Balewa was buried in Bauchi. News of his assassination spurred violent riots throughout Northern Nigeria and ultimately led to the bloody counter-coup of July 1966.
The second Head of State of Nigeria, Major General Johnson Thomas Umunnakwe Aguiyi-Ironsi was born on March 3, 1924. General Ironsi seized power in the chaos that ensued from the first military coup in Nigeria and served as the Head of State of Nigeria from 16 January 1966 until he was killed on 29 July 1966 by a group of Northern army officers who revolted against his perceived tribalistic government. Ironsi, like Nzeogwu, never had a blueprint with which he wanted to rule the country.
General Yakubu “Jack” Gowon, who succeeded Aguiyi-Ironsi, was born on October 19, 1934. After the coup of January 1966, he was appointed Chief of Staff by Aguiyi-Ironsi. Northern officers staged a countercoup in July 1966, and Gowon emerged as the compromise head of the new government. During his rule, the Nigerian government successfully prevented Biafran secession during the 1967-70 Nigerian Civil War. Gowon, like other leaders before him, had power thrust on him by fate.
The fourth Head of State of Nigeria, General Murtala Ramat Muhammed, born on November 8, 1938. General Muhammed came into power on July 30, 1975, when General Gowon was overthrown while at an Organisation of African Unity summit in Kampala, Uganda. Brigadiers Obasanjo (later Lt. General) and Theophilus Danjuma (later Lt. General) were appointed as Chief of Staff, Supreme Headquarters and Chief of Army Staff, respectively. In the coup d’état that brought him to power, Muhammed introduced the phrases “Fellow Nigerians” and “with immediate effect” into the national lexicon. In a short time, Muhammed’s policies won him broad popular support and his decisiveness elevated him to the status of a folk hero. Seen as a radical military officer, some of Muhammed’s policies were viewed as a rash.
Brigadier Olusegun Matthew Aremu Okikiolu Obasanjo was born on March 5, 1938. Although Obasanjo did not participate in the military coup of 29 July 1975, led by Murtala Muhammed, he supported it and was named Murtala’s deputy in the new government. On 13 February, 1976, coup plotters, led by Colonel Buka Suka Dimka, marked him, Murtala and other senior military officers for assassination. Muhammed Murtala was killed during the attempted coup, but Obasanjo escaped death. The low profile security policy adopted by Muhammed had allowed the plotters easy access to their targets. The coup was foiled because the plotters missed Obasanjo, who was the Chief of Staff, and Danjuma, Chief of Army Staff and de facto number three man in the country. The plotters failed to monopolise communications, although they were able to take over the radio station to announce the coup attempt. Obasanjo and Danjuma established a chain of command and re-established security in Lagos, thereby regaining control. Obasanjo was appointed as Head of State by the Supreme Military Council. Keeping the chain of command established by Muhammed, Obasanjo pledged to continue the programme for the restoration of civilian government in 1979 and to carry forward the reform programme to improve the quality of public service.
Shehu Usman Aliyu Shagari was born on February 25, 1925. Shagari emerged as the President of Nigeria’s Second Republic (1979-1983) after the handover of power by Obasanjo’s military government.
He worked as a teacher for a brief period before entering politics in 1954 upon his election to the federal House of Representatives. Shagari, like some of his predecessors in power, did not set out to govern the country. His ascendency came as a result of the northern oligarchy’s determination to maintain power.
Major General Muhammadu Buhari was one of the leaders of the military coup of December 1983 that overthrew the democratically elected government of President Shagari. At the time of the coup plot, Buhari was the General Officer Commanding Third Armoured Division of Jos. With the successful execution of the coup, Brigadier General Tunde Idiagbon was appointed Chief of General Staff (the de facto No. 2 man in the administration). Buhari justified the military’s seizure of power by castigating the civilian government as hopelessly corrupt and promptly suspended Nigeria’s 1979 Constitution.
General Ibrahim Badamasi Babangida overthrew the Buhari administration in a coup on August 27, 1985. His administration threw the nation into turmoil as he annulled the victory of Chief MKO Abiola, who won the June 12, 1993, presidential election. His era was seen as the high point of corruption in the country’s history.
Business mogul, Chief MKO, could be said to be prepared for the presidency, which he had eyed since the Second Republic when he joined the ruling National Party of Nigeria. A philanthropist par excellence, Abiola went round the country campaigning and soliciting for support from the major power blocs. This resulted in his resounding victory which cut across tribe and religion. He was denied his victory by his friend, Babangida, who annulled his election. But in 2018 President Buhari recognised late MKO as President-elect, a posthumous award that was applauded by many.
Ernest Adegunle Oladeinde Shonekan was born on May 9, 1936, in Lagos. He is a British-trained lawyer, industrialist and politician. He was appointed as the Head of the Interim National Government by General Ibrahim Babangida on 26 August 1993. Babangida resigned under pressure to cede control to a democratic government. Shonekan’s transitional administration only lasted three months as a palace coup led by General Sani Abacha forcefully dismantled the remaining democratic institutions and brought the government back under military control on 17 November 1993.
Nigeria’s 10th Head of State, Sani Abacha, was born on September 20, 1943. He served as the country’s military ruler from 1993 to 1998. Abacha’s administration, like that of Babangida, witnessed state-sponsored killings and human right abuses. He clamped the winner of the June 12 presidential election, Abiola, into jail. Abiola later died in jail.
General Abdulsalami Abubakar was born on June 13, 1942. He led Nigeria from June 9 till May 29, 1999. Abubakar’s regime gave Nigeria her current constitution on May 5, 1999. The constitution provided the country for multiparty elections and Abubakar transferred power to Obasanjo on May 29, 1999, after the latter won the country’s presidential election.
Obasanjo, who was incarcerated by Abacha, was on death list before Abacha died in mysterious circumstances. Obasanjo was freed after the death of Abacha and he was propped up by the powers that be to run for the presidency. A reluctant Obasanjo had wanted to back to his farm in Ota, Ogun State.
The country’s power oligarch sought for a replacement for Obasanjo, whose tenure came to an end in 2007, and they found one in Yar’Adua. Yar’Adua was born on August 16, 1951, and he emerged as the country’s 13th leader on May 29, 2007. The head of the oligarch, Obasanjo, literally produced Yar’Adua, whose elder brother, Shehu Yar’Adua, was his military colleague. After serving as Katsina State governor between 1999 and 2007, Yar’Adua had desired to retire until the lot fell on him to lead the country.
He had no blueprint for the country’s challenges.
Goodluck Ebele Azikiwe Jonathan was born on November 20, 1957. Power was thrust upon him when Yar’Adua died in 2010. He never aspired to be governor when as deputy governor, his principal, Diepreye Alamieyeseigha, was impeached and he took over.
The incoming president, Buhari, has contested for the presidency three times consecutively. He is seen as an honest and disciplined leader, who is passionate about the country’s development. Members of the opposition have, however, said that Buhari would not achieve much in his quest to transform Nigeria because of the calibre of people surrounding him.
The next four years shall show whether or not Buhari will succeed.
Each of these leaders has contributed their quotas in the development of the country and Nigeria is becoming one of the fastest-growing economies in the world holding a key position in the global arena – like the United Nations, UN General Assembly, World Bank, IMF, African Development Bank, African Export-Import Bank (Afteximbank) and many other top positions.
Despite these successes, there have been perceived injustice in most parts of the country, many still cry of being marginalized of economic and social amenities.
But like the former President of the United States of America, John F. Kennedy said, ”The great revolution in the history of man, past, present and future, is the revolution of those determined to be free.” Nigeria as a sovereign country is free, but the citizenry is yearning for a nation that will give everyone equal right and opportunity irrespective of tribe, religion or ethnicity.
President Muhammadu Buhari has the enormous responsibility of correcting the ills of the past and ensure justice for every Nigerians.
EDITORIAL
Need to Accelerate Payment of Pensions
Over the years, retirees and pensioners in Nigeria have faced endless travails over non prompt payment of gratuities and pensions. In the process, many elder statesmen who have diligently served this nation have died without receiving their benefits, leaving their children and relatives in pain and penury.
The question agitating the minds of retirees and pensioners is why the beneficiaries of the pension can’t be paid promptly on retirement without making them go through agonizing pains that they sometimes have to offer bribes to fast-track the process. It is unfortunate that receiving one’s benefit after retirement has become a nightmare.It is even more concerning that the category of individuals in question are very senior citizens who have sacrificed the best part of their lives serving the nation. Retirement should not be a death sentence; it should be a period workers would happily look forward to with joy, hope and pleasure.In compliance with the Pension Reform Act (PRA) of 2004, the Pension Transitional Arrangement Directorate (PTAD) was established in August 2013. PRA also gave rise to the National Pension Commission (PenCom) to regulate, supervise and ensure the effective administration of pension matters in the country. PRA was repealed and re-enacted in 2014.With the this Act, PTAD took over the management of the pension offices of the civil service, police, customs, immigration, prisons and over 200 treasury funded parastatals. Despite the good intentions of the architects of the pension reforms, unnecessary delays in pension and gratuity payment to pensioners as well as alleged shady deals have characterized the National Pension Commission, thereby defeating the purpose of effective and efficient administration for which it was established.Following the outcry of beneficiaries over endless delays in the payments of persons and gratuities, the commission recently introduced an e-clearance platform to its website. The platform according to the commission, is to supply as well as expedite pension clearance certificate (PCC), for pensioners.In addition, pensioners can now do their submissions for verification from the convenience of their homes facilitating, real time tracking update, reduced paper work, enhanced security, data protection for enhanced user friendly interface.However, it is not yet Uhuru for the senior citizens even as the commission likened what it called a positive development to douse the criticism that has bedeviled the process in recent times as speculations were rife that the federal government intended to borrow from the fund for infrastructure development. This rumor was perceived as absurd and sad going by the apparent hardship pensioners are going through occasioned by the delays in payment of their monthly pensions.Again, the removal of fuel subsidy has compounded the suffering of pensioners. It has elevated their plight into more economic hardship, with the pension fund lying apparently inaccessible by pensioners and prompting the federal government to contemplate the idea of taking a loan from the pension fund for capital project development. This move should be well considered before a final decision is takenThe agonizing hardship due to the economic downturn in Nigeria has inflicted terrible pains as most pensioners and retirees are suffering in silence, yet those who are saddled with the responsibility to manage the funds are mercilessly embezzling, misappropriating or pilfering the funds. The two billion naira Maina-gate readily comes to mind. Could both NPC and PFAs be the barrier to a repeal of obnoxious Pension Act; that has enslaved workers and retirees to the undue advantage of government officials at the helm of pension fund as well as their Pension Administrators who are said to be using PFAs as fronts for politicians in collaboration. That is why it is believed that the same politicians in the legislative chambers will never support bills to abrogate laws like the pension Act and give it a human face.Simply put, man should not be made for the law but the law should be made for man. Pension Act advocates have expressed reservations and concern in both mainstream media and social media on the plight of pensioners and retirees. Some have opined that both civil servants and retirees should be allowed to withdraw all their savings and invest in their endeavor of interest.According to these pensioners and retirees advocates, the Pencom/PFA Scheme is an unsavory exploitation of workers and poor retirees as on retirement at 60 years, a retiree can only through thick and thin access 25% of his or her fund, with the balance being spread over 15years on monthly payments. In other words the retiree is expected to die at 75 years.It is the belief of concerted Nigerians that most pensioners and retirees will do better in business for themselves and get better Return On Investment (ROI), if they have direct access to their pension benefits. And that is why the amendment of the Pension or total abrogation will enhance retirees’ purchasing power and boost the economy in the process.Pension Act amendment protagonists have suggested that civil servants should be allowed to access their funds immediately after retirement. The amendment of the Pension Act in this regard will go along way serving as a palliative to civil servants as well as allow them to plan and invest for a better life after retirement. The simple illustration below depicts the exploitation of pensioners and retirees. A civil servant retires at 60 and gets an entitlement of N10m and decides to invest N7m in money market or government treasury bills at the usual 15% PA, his or her monthly interest will be N87,500 while PFAs pay N19,500 on the same amount monthly. This is exploitative. From the above illustration, the pensioner or retiree is losing over 55% of what he should have earned from money market or Government Treasuring bills.A recent survey in UK has it that pensioners are not at ease with the government and pension administrators as the survey states that around a 3rd (32%) could afford to contribute more to their pensions now in order to boost their retirement income. But while savers are seeing the value of pensions, the survey discovered that there remains a fundamental misunderstanding by savers about their pensions with many individuals unsure of how their contributions were being invested on their behalf.As at the period of the survey, the UK Prime Minister was forced to announce an emergency £350 of support per household to help with the cost of heating. As a result, almost half (47%) of those not retired say that they cannot afford to save right now due to the rising cost of everyday living. Relatively, the above action can be said to be usage of Pension Fund to improve the standard of living for UK civil servants.In this era of excruciating economic agony, a presidential executive bill to unbundle the pension Act of 2014 has become necessary as it would go along way in serving as succor to civil servants and pensioners. This bill can also serve as an auxiliary to the pending move by the senate to amend the Pension Act to enable Nigerians withdraw up to 75% of their total cumulative pension savings; this will also help douse the negative believe that PFAs are grossly manipulating and exploiting Nigerian workers.Also, production will be overwhelmingly stirred up, should this critical stance on abrogating the Pension Act be acted upon.DAILY ASSET insists that there is a compelling need to address the plight of retired senior citizens in the country, with the Pension Asset Fund currently standing at 21.14 trillion naira as of the end of August 2024.EDITORIAL
Hardship: Time to Reverse Lopsided Reforms
That poverty-stricken Nigerians are dying needlessly daily as a result of hunger and depression is no longer news. No thanks to multidimensional poverty, poor mental health and lack of affordable health care ravaging the land.
There is galloping inflation, occasioned by haphazard policies of the Tinubu-led administration; particularly the abrupt removal of fuel subsidy.
To worsen matters, there is widespread and excruciating starvation and hardship which is gradually choking and snuffing life out of many Nigerians.The situation has deteriorated to an abysmal level that urban and rural poor can no longer afford high prices of foodstuffs and commodities in the market and this is a serious source of concern.
On the other hand, the rich are not finding it easy either, because of mounting requests for assistance from the down-trodden. Worst hit by the economic crisis are household consumables. To eat once a day in most homes today is a luxury.
All is not well in Nigeria. Yet, the political class enjoying jumbo pay and bogus government allowances have continued to urge the Nigerians to exercise patience, insisting there is “renewed hope”. Alas, what is in existence is hopelessness and hunger in the land.
According to the National Bureau of Statistics (NBS), in Sept., food inflation increased to 32.72 percent from 23.67 percent in the corresponding year, an unfortunate reality largely due to the sudden fuel subsidy removal by President Bola Tinubu. Instructively, Vice President Kashim Shettima admitted during the recent Nigerian Economic Summit in Abuja that some of the economic reforms of the present administration have been painful, though inevitable.
According to the Vice President, many other nations like Nigeria were experiencing significant economic problems over the past few years.
“Nigeria’s growth trajectory has been volatile, heavily dependent on oil revenue and unable to create enough jobs to keep pace with our rapidly growing population. As a nation, we must prioritize economic diversification.
“Considering this, the present administration, through the Renewal Hope Agenda has embarked on bold and courageous reforms designed to create an environment that fosters sustainable economic growth and shared prosperity, though painful at the moment. Our focus is on sectors that can offer inclusive and sustainable growth such as agriculture, manufacturing and the digital economy,” he explained.
While commending the Nigerian Economic Summit Group (NESG) for being in the forefront of helping the government by creating a platform for meaningful conversation on the economy, he said the opportunity has made it imperative to halt the catastrophe before it consumes the country.
Despite the fact that the recent figures from the NBS show that inflation fell to 33.40 percent in the month of June, the reality is that inflation is still driving up the prices of essential commodities like food and petrol, thereby exacerbating the hardship and hunger ravaging the urban and rural poor, as small increases in the cost of basic goods and foodstuffs impact negatively on low-income families.
Although records show that food inflation has slightly decreased to 39.53 percent from 40.87 percent, as a result of harvesting period, the slight reduction has not translated into lower prices in the market.
Nigerians are of the common view that the avoidable economic downturn in the country, owes much to the unprecedented devaluation of the naira – a direct consequence of high inflation – which has reduced low-income families to unimaginable levels of desperation and destitution; to the extent that those caught up in this web are now sacrificing essential needs like their children’s education and often times healthcare just to live from hand to mouth.
It is fair to state categorically that the removal of fuel subsidy has really brought about untold hardship to millions of Nigerians because fuel price hike has driven up the prices of goods and services throughout the country.
Despite the monumental corruption in the oil sector vis-a-vis the so-called subsidy regime, the greatest victims of subsidy removal are the masses. This is because fuel is the essential ingredient that drives and revolves round most activities in the country, ranging from transportation, small and medium scale enterprises, petty businesses, technology and tourism.
During the campaign to remove the subsidy, the issue that elicited a lot of concern was federal government’s inability to identify and penalize those benefiting from the fraud called fuel subsidy.
No matter the level of corruption in the oil industry, the Nigerian Midstream and Downstream Regulatory Authority (NMDPRA), the drivers of the reforms in the sector in collaboration with Nigerian National Petroleum Company Limited (NNPCL), should have been able to stop the payment of subsidies to the faceless importers of petroleum products and channel the resources into the provision of infrastructure and employment for the benefit of the people, rather than outright removal of the subsidy, a move which has dealt a major blow to the nation’s economy.
Halting the hardship in the country and reviving an economy which is contending with high fiscal deficits, low Gross Domestic Product (GDP) and high inflation are as complex and challenging as fighting corruption in a nation like Nigeria. But it can be achieved if the government becomes more strategic and intentional in its game plan to reverse the ugly trend.
If there is (political) will, there must be a way. The popular refrain among government officials is that Nigeria is not the only country passing through economic hardship. That is not far from the truth but mouthing such excuses without marshaling any action plan for sustainable economic growth could be suicidal.
The federal government has consistently appealed to Nigerians to tighten-up their belts and they have complied and are still complying. Surprisingly, top government officials are not practising what they are preaching, whereas more than a 100 million Nigerians living in extreme poverty are subjected to unbearable austerity measures.
A government that fails to encourage and promote transparency and accountability does not have the legal and moral justification to urge people to continue tightening-up their belts. There is an urgent and compelling need for the federal government to implement the much orchestrated fiscal discipline by reducing non-essential government spending and improving the effectiveness of public infrastructure, security and welfare of the citizenry.
Unless and until the government stops its unnecessary lip service of insisting that Nigeria is on the path to progress and urgently reduces its over reliance on oil exports and promote other critical sectors like agriculture, manufacturing and technology, the much needed economic revival would remain nothing but a dream.
Again, Small and Medium-sized Enterprises (SMEAs) must receive the support of government as this would foster entrepreneurship and innovation. But without power such expectations are impossible. Sadly, the crisis in the power sector is not going away. Instead, the growing challenge has overwhelmed the present administration just as those before it.
DAILY ASSET strongly believes that addressing inflation, the fallout of which is the untold hardship Nigerians are experiencing today, requires a frontal and comprehensive approach from the federal government rather than the lopsided reforms that encourage wasteful spending to the detriment of the masses.
For instance, government cannot overhaul and fix its moribund refineries which have gulped over $25 billion in the last 27 years but can unilaterally jack up prices of petroleum products, the way it did under subsidy removal.
Similarly government must not arbitrarily raise cost of electricity and other taxes without addressing epileptic power supply and other associated challenges.
There must be a complex balance of pragmatism and sustained commitment to promote, sustain and consolidate economic stability, growth and productivity.
EDITORIAL
Repeal Auditor-General Ordinance Act of 1956 Now
The move to reform the Nigeria Auditor General Ordinance Act of 1956 by the National Assembly has been ongoing for over a decade. Though there were significant developments, the bill got stuck at the bi-camera lawmaking chambers where it has continued to undergo series of reviews before it will be transmitted to the president for assent.
Crafted to re-enact the Audit Act, the bill, introduced in the House of Representatives in 2014, has two significant provisions – the independence of the Office of the Auditor General for the Federation (OAuGF) and the establishment of the Federal Audit Service Commission and other matters related thereto.
The passage of the bill shall not only make the OAuGF to be financially independent but shall also grant it administrative autonomy to have powers to recruit, promote and discipline their staff.
It will also empower the OAuGF to carry out audits on all government Ministries, Departments and Agencies (MDAs) and hold them accountable for their stewardship in the use of public resources.
Additionally, it will pave the way for the establishment of the Federal Audit Service Commission which shall be responsible for handling all matters of recruitment, promotion and discipline of members of staff of the office and the Audit Commission.
When the colonial government established the Audit Ordinance Act of 1956, the instrument provided for the position of the Director of Audit. It was meant to provide for adequate and appropriate checks and balances in the colonial financial system.
But for the first time, the 1999 Constitution of Nigeria (as amended), provided for the Office of the Auditor-General for the Federation and the appointment thereof.
With endemic corruption in the country and the continued outcry for stronger institutions to help sanitise the public financial sector, by entrenching the principles of accountability and transparency to prevent and curb corruption, it is imperative and absolutely necessary to advance the course of the 1999 Constitution by way of providing for a robust Audit Act that will make clear and unambiguous provisions required to effectively carry out the mandate of the office.
Recognizing the job of auditors in ensuring that public officials and institutions are held to account is undeniably one of the toughest jobs in government, experts have considered the Audit Bill as a powerful instrument to address issues of poor governance, wastes, inefficiency, lack of accountability and transparency in the public sector.
Therefore, when passed and passed by the president, the bill will also give a stronger backing to the fight against corruption as it guarantees and safeguards operational independence of the OAuGF as a Supreme Audit Institution(SAI).
Additionally, once the bill is passed into law, the Auditor-General shall be vested with more powers to inquire into, examine, investigate and report as he considers necessary on the expenditure of public monies and money advanced or granted to a private organization or body in which the Federal Government has controlling interest.
The financial and administrative independence which the Audit Law will bestow on the office, will complement the legal independence it already enjoys by virtue of Section 85 of the 1999 Constitution (as amended). The administrative autonomy will enable the OAuGF to attract quality human capital at competitive standards for improved efficiency; as recruitment of members of staff will now be conducted professionally by the Federal Audit Service Commission with improved remuneration packages that will challenge them to discharge their duties effectively and professionally too.
Internationally, the OAuGF shall be placed at par with other Supreme Audit Institutions (SAIs). Resultantly, the office shall be accorded more respect and recognition as a credible source of independent and objective insight and guidance to support beneficial change in the public sector. This will also enable those charged with public sector governance to discharge their responsibilities in responding to audit findings and recommendations and taking appropriate corrective actions.
When MDAs fail or delay the submission of their accounts and records or Audited Accounts to the OAuGF without sanctions, it affects timely preparation of the OAuGF Annual Audit Report to the National Assembly as envisaged by the Constitution of Nigeria (as amended) and as a result, the information contained in the report lose its capacity to influence decisions.
DAILY ASSET is of the view that aside from the passage of the bill, the OAuGF should be placed on first line charge. It must be adequately funded to enable it to effectively audit the 1023 MDAs and over 123 embassies and foreign missions.
Also, the government must ensure adequate provision of accommodation for auditors for effective discharge of their assignments. Auditors on oversight assignment should not reside in the same office with the MDAs they audit for a fair and balanced audit report.
Finally, the task of fighting corruption and blocking wastes in systems is a huge challenge that requires all hands on deck hence the need for inter-agency collaboration, cooperation and sharing of vital information between public institutions charged with responsibilities of fighting corruption.