The Public Accounts Committee of the House of Representatives has raised an alarm over the disappearance of more than ₦250 billion in public funds,
This was revealed in reports from the Auditor-General of the Federation and made known to journalists by the Chairman of the committee, Bamidele Salam, at the National Assembly in Abuja on Tuesday.
Salam said the audit reports revealed that the staggering sum remained unaccounted for across several government entities.
He also noted a disturbing trend of increasing financial irregularities in public institutions.
According to him, more than 60% of Ministries, Departments, and Agencies (MDAs) had consistently failed to comply with financial regulations.
He warned that such persistent disregard for due process continued to erode public trust, undermine sustainable national development, and weaken the nation’s democratic institutions.
News Edited by Favour Owonibi