Speaker of the House of Representatives, Honorable Aminu Tambuwal on Tuesday, November 3, 2014 arrived the National Assembly without security details.
Tambuwal arrived at NASS in a SUV jeep as he was accompanied by APC lawmakers who were with him all through his stay.
The speaker who was in National assembly to declare open two public hearings which was scheduled to hold 11am and 12 noon respectively on Tuesday, November 3, 2014.
The one-day public hearing was jointly organised by the House Committees on Public Account and Justice, to discuss a bill to repeal the nation’s Audit Act of 1956 in empowering financial experts to support an audit act, to facilitate ethical best practices and help to eliminate corruption from the financial system.
Tambuwal encouraged that Nigeria must learn to adopt modern trend in digital auditing.
According to the speaker, the extant Audit Act of about 60 years ago did not give the Office of the Accountant-General of the Federation the required wherewithal to fight corruption.
Tambuwal assured that when the new act is passed into law, it would create an Audit Service Commission that would enable office of the auditor-general of the Federation to reshape auditing practice in the country.
Tambuwal implored that participants should contribute meaningfully by ensuring that all aspects of the bill were thoroughly examined and brought in line with international auditing practice.
Auditor-General of the Federation, Mr Samuel Ukura, who was also at the meeting, condemned the non-existence of an auditing act in the country’s legislative act.
According to Ukura, 1956 colonial provision for auditing was removed in the country’s laws since 2004.
Ukura added that Nigeria is the only country in the world without a functional auditing act.
“Ghana audited the United Nation’s account for 30 years, and then passed the baton to South Africa, which is currently auditing the UN accounts.
“Nigeria had been severally denied because the UN has been uncomfortable with Nigeria’s lack of auditing law.
“It is very rare to see an MDA coming to the National Assembly with a bill to have its finances audited.
“This bill, therefore, will put an end to the lingering question of who audits the auditor,’’ he said.
Ukura however concluded that it would be impossible for the Office of Auditor-General to fight corruption without having the legal means to do so.
Also, the Chairman, House Committee on Public Account, Solomon Olamilekan (APC-Lagos) said when passed into law, the bill would impact on the society and add value to Nigeria’s financial system.
