The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has denied that gas flare penalty payments into the Midstream and Downstream Gas Infrastructure Fund (MDGIF) were under-remitted. According to the regulator, discrepancies identified by the Office of the Auditor-General of the Federation resulted from timing and reconciliation issues within the Federation Account channel, rather than any shortfall in the remittances themselves.

The Midstream and Downstream Gas Infrastructure Fund (MDGIF) has rejected a N94.4 billion audit query raised by the Auditor-General. According to the fund, the discrepancies identified in the audit report stem from timing differences and reconciliation issues rather than any missing revenue. The MDGIF maintained that its financial records are in order, disputing the audit findings. The clarification, reported by Punch, comes amid ongoing scrutiny of government agency finances in Nigeria.

Nigeria's Auditor-General has uncovered N431 billion in unpaid levies and debts allegedly owed by oil marketers to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), according to Punch. The findings point to significant financial irregularities within the downstream petroleum sector, with the withheld funds raising questions about compliance and revenue collection. The report highlights accountability concerns among marketers and the regulator's ability to recover outstanding payments owed to the government.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority has rejected claims of unaccounted gas flare revenues, according to Punch. The regulator stated that discrepancies identified in the figures are the result of reconciliation issues rather than missing funds. The NMDPRA's response addresses concerns raised about the handling of revenues generated from gas flaring penalties, maintaining that no money has gone unaccounted for.

Nigeria's Auditor-General has raised concerns over N33.75 billion in cash transfers made to 3.29 million Nigerians, citing a lack of evidence to verify the payments. According to the audit, the National Cash Transfer Office (NCTO) showed missing records and weaknesses in financial controls. The findings raise questions about transparency and accountability in the government's cash transfer programme, which is designed to support vulnerable citizens across the country.

The African Democratic Congress (ADC) has described President Bola Tinubu's social intervention programme as a racket, following an Auditor-General's finding that N33.75 billion in cash transfers to 3.29 million households could not be verified. According to a statement issued by the party on Monday, the finding confirms suspicions that social investment under the Tinubu administration benefits officials rather than the poor. The report concerns Nigeria's federal government and its cash transfer scheme.