Audit Uncovers N4.64bn Financial Mismanagement in Housing Ministry

|By Adejumo Adekunle –

An audit report by the Auditor-General for the Federation has exposed financial irregularities amounting to over N4.64 billion in the Federal Ministry of Works (Housing Sector). The report, covering activities between 2020 and 2021, highlights weak internal controls during Babatunde Fashola’s tenure as Minister.

The findings reveal payments of N1.08 billion without proper vouchers, N546 million transferred without documentation, and over N2.89 billion in extra-budgetary expenditures, including N1.88 billion spent without legislative approval. Contracts worth N493.97 million were also awarded to unregistered companies, breaching procurement laws.

The report attributed these anomalies to poor internal controls, raising concerns about potential fund misappropriation. It called for recovery of the misused funds, sanctions for those responsible, and adherence to financial regulations to prevent future lapses.