Only three of Nigeria’s 36 states and the Federal Capital Territory (FCT) received a ‘good’ rating in ICAN’s ranking of state audit compliance as of October 2023.
According to the Institute of Chartered Accountants of Nigeria’s accountability index, seven states received a ‘good’ rating, while the remaining 26 received a ‘fair’ rating.
In 2014, ICAN began audit rating states in order to analyze state governments’ financial management and accountability.
Ekiti, Lagos, and Osun received ‘excellent’ ratings.
Ogun, Kaduna, Edo, Delta, Kwara, Rivers, and Anambra are the seven states that received a ‘good’ rating.
Abia, Adamawa, Bauchi, Bayelsa, Benue, Borno, Cross River, Ebonyi, Gombe, Imo, Jigawa, Kano, Katsina, Kebbi, Kogi, Nasarawa, Niger, Plateau, Sokoto, Taraba, Yobe, and Zamfara are among the states with a ‘fair’ grade.
The evaluation focuses on compliance with audit rules and regulations, as well as the quality and timeliness of audit reports, and each state receives a rating of Excellent, Good, Fair, or Poor.
“The rankings suggest an overall trend of improving compliance with the constitutional requirement to audit state and local council accounts since the introduction of the ICAN accountability index,” said Innocent Okwuosa, the 59th president of ICAN. However, significant heterogeneity persists between states, emphasizing the need for sustained efforts to establish consistent compliance and develop accountability practices across all Nigerian states.”
According to him, the rating provides useful insights into development and areas that require additional focus.
Ismaila M. Zakari, a former ICAN president and managing partner of Ahmed Zakari & Co, brought attention to the index during the FrontFoot Media Initiative Audit Reporting Workshop in Lagos on October 25 and 26, 2023.
Emeka Izeze, Managing Director of FrontFoot Media Initiative, stated that his organization offers audit reporting training to help strengthen media capacity and increase responsibility among state and local government officials.
Workshops have been held in Benin, Awka, Abuja, and Lagos by FrontFoot.
Students “learn how and where to locate the relevant reports, interpret the material, and write engaging news stories and features that will enlighten, stimulate, and empower the electorate, and discourage impunity” , according to his statement.
