A Chartered Accountant, Alesta Wilcox has attributed the failure of some government agencies to remit funds into the Federating Account to lack of internal control of the country accounting system.
He made this assertion when he was a guest on “Today On STV” on Monday, saying the Nigeria accounting system is devoid of basic requirement of internal control.
According to Wilcox, in time past the civil service had formidable rules and structure that made it impossible to easily break the internal control but the military rule that is autocratic in nature destroyed it.
“Since then, we have not recovered from it. The various check and balances that governs public sector financing have been eroded and there is need now to revive weak institutions,” he said.
He explained that Nigeria is not lacking in Laws but that the unremitted funds of N450 billion but the implementation is faulty.
Wilcox commends Kemi Adeosun for believing so much in accountability and proper management of public finance.
“TSA has done part of it and there are still agencies underreporting of revenue and the office of the Director General is not up and doing and they know they are the check of the government,” he noted.
To him, another factor that has led to the unremitted funds is the high level collision in the government, adding, most of the civil servants don’t love this country they love their pocket, people that are entrenched in this malady are still carrying on.”
The government needs to look inwards and come up with a tough security blueprint and implement it