News
National Assembly Fails To Account For N9 Billion – Audit Report
The National Assembly management failed to account for a total expenditure of over N9.4 billion in 2014, the latest audit report has revealed.
The money included N9.39 billion for which no “documentary evidence” was provided and a N47 million to be returned to government coffers out of which only N360,000 was returned; giving a total of N9,440,844,572 (nine billion, four hundred and forty million, eight hundred and four thousand, five hundred and seventy two Naira).
The audit report of government bodies (2009-2014) was submitted to the Clerk to the National Assembly in March 2016 as statutorily provided. The full contents were recently publicly disclosed by the Office of the Auditor General of the Federation on its website.
The report indicted several government bodies of illegal and profligate spending, and failing to remit over N3 trillion into government’s treasury.
Apart from the National Assembly, other key bodies indicted include the state oil company, Nigerian National Petroleum Corporation, Ministry of Interior, the Presidency, Central Bank of Nigeria and some foreign missions.
According to the report, between January and December, 2014 under the leadership of David Mark as Senate President and Salisu Maikasuwa as the Clerk, the Management Department of the National Assembly Commission transferred N9,392,995,515.00 (Nine billion, three hundred and ninety-two million, nine hundred and ninety-five thousand, five hundred and fifteen naira) from the general services account to other accounts in different banks.
The purposes stated for the transfer include Senate General Services, Appropriation, Constitutional Review, House of Representatives Services, UNDP Projects and Research Office Services.
However, “no expenditure returns or documentary evidence were rendered to account for how these sums were expended,” the report said, raising question of accountability and legality.
In another case, the report disclosed that the National Assembly management remitted only N360,000, out of a N47 million balance of total personnel vote release and actual expenditure for 2014.
“It was further observed that the total Personnel Vote release for the year 2014 was N1,856,510,517.00 (One billion, eight hundred and fifty-six million, five hundred and ten thousand, five hundred and seventeen naira), and the Actual Expenditure for the same period was N1,808,661,460.18 (One billion, eight hundred and eight million, six hundred and sixty-one thousand, four hundred and sixty naira, eighteen kobo), resulting in a balance of N47,849,057.00 (Forty-seven million, eight hundred and forty-nine thousand, fifty-seven naira).
“However, only an amount of N360,115.08 (Three hundred and sixty thousand, one hundred and fifteen naira, eight kobo) was paid back to treasury at the end of the year.”
No Denial
In May – after the audit report had been submitted to the National Assembly, the Senate Committee on Public Accounts led by Andy Uba (PDP-Anambra) held a public hearing during which a number of government bodies refuted certain findings of the audit report, particularly the disclosure that they didn’t submit their internal audit reports between 2009 and 2014.
Some of the bodies that challenged aspects of the report were CBN, the Ministry of Petroleum Resources, Nigerian Ports Authority (NPA), Tertiary Education Trust Fund (TETFUND) and Nigeria Pension Commission.
However, the National Assembly has not denied the findings of the audit report as they related to the lawmaking body – though its committee castigated the then Auditor-General of the Federation, Samuel Ukara, for an “unsatisfactory report”, cashing in on complaints by other government bodies.
The law says the National Assembly should refer the audit report to its committee on Public Accounts for consideration.
After considering the report, the committee is empowered to pass a resolution to either publish the report in the National Assembly journal or government’s official gazette.
Since the committee considered the report, it has not passed the resolution for its publication in either channel.
Efforts to reach Mr. Uba for comments were not fruitful. He did not pick calls to his phone or reply to text message.
Lagos Police Arrest 32 Suspects, Recover 43 Vehicles and 10 Firearms
The Lagos State Police Command has arrested 32 suspects in connection with alleged armed robbery, cultism and other criminal activities across the state.
The command also recovered 43 vehicles, 10 firearms and other items during various operations conducted by its operatives, The Nation reports.
According to the police, the arrests and recoveries were recorded as part of intensified efforts to tackle criminal activities and improve security across Lagos.
The command said the suspects are being investigated over their alleged involvement in different offences, while the recovered vehicles and firearms have been secured as exhibits.
The police also disclosed that a 20-year-old suspect was arrested in connection with the alleged killing of a police sergeant.
The command said investigations were ongoing into the various cases, with efforts being made to establish the roles of the suspects and identify other individuals who may be connected to the alleged crimes.
The latest arrests come amid broader police operations across the country. In a separate nationwide update covering September 12 to 18, the Nigeria Police Force said 177 high-profile criminal suspects were arrested and 52 stolen vehicles recovered during operations across different states.
The National Examinations Council (NECO) has released the results of the 2026 Senior School Certificate Examination (SSCE) Internal, with 58.67 per cent of candidates obtaining at least five credits, including English Language and Mathematics.
NECO Registrar and Chief Executive, Professor Dantani Wushishi, announced the results on Thursday at the council’s headquarters in Minna, Niger State.
A total of 1,378,048 candidates registered for the examination, comprising 682,352 males and 695,696 females. Of the registered candidates, 1,371,992 eventually sat for the examination.
According to NECO, 804,948 candidates, representing 58.67 per cent, obtained five credits and above, including English Language and Mathematics. Another 1,162,118 candidates, representing 84.70 per cent, obtained at least five credits irrespective of their results in the two subjects.
The 2026 examination was conducted between June 15 and July 23 across Nigeria and six foreign countries: Benin Republic, Equatorial Guinea, Niger Republic, Côte d’Ivoire, Togo and Saudi Arabia. The nationwide marking exercise took place from August 17 to September 4.
NECO also reported a significant reduction in examination malpractice. The council said the number of candidates involved in malpractice fell from 3,878 in 2025 to 1,406 in 2026, representing a 64.74 per cent decline.
The registrar attributed the reduction to strengthened examination monitoring, improved processes and collaboration with security agencies and other stakeholders.
The council also disclosed that candidates with special needs participated in the examination, as part of its efforts to make the examination process more inclusive.
NECO said candidates can now access their results through its official result-checking platform using their examination registration details.
The release of the results comes 63 days after the conclusion of the 2026 SSCE examination.
Nigeria’s foreign exchange supply increased by 20.5 per cent to $8.94 billion in 2025, up from $7.43 billion recorded in 2024, according to data from the Central Bank of Nigeria (CBN).
The figures were contained in the apex bank’s 2025 Statistical Bulletin and represent an increase of about $1.51 billion in annual foreign exchange supply.
Monthly figures showed that supply remained relatively low at the beginning of 2025 before rising significantly in March and April.
FX supply stood at $590.64 million in January and $607.63 million in February. It then climbed to $1.04 billion in March before reaching its highest monthly level of $1.65 billion in April.
However, supply declined in the following months, falling to $838.93 million in May and $676.31 million in June. It recovered slightly to $759.02 million in July before dropping to $677.84 million in August and $399.80 million in September.
October recorded the lowest monthly figure for the year at $150.10 million. Supply later recovered to $638.38 million in November and $910.73 million in December.
The CBN also reported that total foreign exchange inflows into Nigeria rose from $96.53 billion in 2024 to $109.86 billion in 2025, representing a 13.81 per cent increase.
However, foreign exchange outflows also increased during the period, rising by 27.83 per cent from $38.37 billion to $49.05 billion.
As a result, Nigeria recorded a net foreign exchange inflow of $60.81 billion in 2025, compared with $58.16 billion in 2024.
The CBN data, however, do not provide a detailed breakdown of the sources of the $8.94 billion supplied during the year.
The increase in FX supply comes amid continued efforts to improve liquidity and stability in Nigeria’s foreign exchange market, although the market remained volatile in 2026.
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