EFFECTIVE AUDITING IS KEY FOR TACKLING DIVERSION OF PORT FEES, AND OIL THEFT- AGF 15-12-24
By Sadiq Aminu The Auditor General of the federation Mr Shaakaa Chira, says effective auditing would help tackle issues such as smuggling, diversion of port fees, and oil theft in the Marine and Blue Economy sector.
He made the remark at a two day workshop organized by the Ministry of marine and blue economy on modern audit techniques to improve on its auditing apparatus, in Abuja.
Mr Chira, who was represented by the Director, Treasury Audit Department Mr Uchechukwu Ogwe observed that the sector holds tremendous opportunities through various revenue streams, including port operations, fishing licenses, oil and gas royalties, customs duties, and maritime tourism.
These he however said are often constrained by challenges such as revenue leakages, inefficiencies in collection systems, and governance gaps.
To address these challenges, according to him the audit techniques are indispensable. Tools such as risk-based auditing, data analytics, and digital monitoring systems can uncover hidden inefficiencies, improve accountability, and ensure that money generated is accounted for.
“Applying modern audit techniques, embracing the dynamism that is the hallmark of auditing and strict compliance with ethical standards with unreserved support from management, the auditor in the Marine and Blue Economy would contribute substantially to improving revenue from the sector.
The Director Internal Audit Mrs Jumbo Obenachie, explained that the workshop was organized to equip the participants with the skills to rethink their approaches, challenge conventional methods and embrace advanced techniques.
The Permanent Secretary of the ministry Mr Olufemi Oloruntola, stated that the workshop provides a valuable opportunity for learning and improvement for the participants to enhance the performance of their organizations.