Photo Credit: Lagos Television
2025-12-25 10:10:00
As disclosed in a report by Lagos Television, the Federal Government has warned ministries, departments and agencies that failure to submit stand-alone annual financial statements will lead to denial of access to government funds in 2026.
The warning is contained in a circular dated December 22, 2025, signed by the Accountant-General of the Federation, Dr. Shamseldeen Ogunjimi, tied to year-end financial activity guidelines.
The circular is blunt: “Any MDA that fails to prepare and render its separate annual financial statements will have its release of funds suspended indefinitely,” with queries to be issued to the relevant directors/heads of accounts.
A separate report carried by Njenje Media echoed the same sanction language and added that MDAs are also directed to ensure revenues due to the Federation Account and CRF/TSA channels are fully collected and accounted for, alongside stricter IGR remittance diligence.
Echotitbits take: This is a classic “compliance lever” policy—budget releases as enforcement. If implemented consistently, it can tighten financial discipline and reduce opaque off-book spending. Watch for pushback from under-resourced agencies and whether the Treasury provides technical support to help MDAs meet reporting standards, not just punishment.
Source: Lagos Television — December 24, 2025 (https://lagostelevision.com/2025/12/24/fg-warns-mdas-no-accounts-no-funds-in-2026/)
Lagos Television 2025-12-24