FG warns MDAs no accounts no funds in 2026
The Federal Government of Nigeria has issued a stern warning to all Ministries, Departments and Agencies (MDAs) that failure to prepare and submit their annual financial statements by December 31, 2025 will result in the suspension of fund releases in 2026. The directive was contained in a circular signed by the Accountant-General of the Federation, Dr. Shamseldeen Ogunjimi, emphasising strict compliance with accounting requirements as a condition for continued funding. The government’s position makes it clear that no accounts submitted, no funds released in 2026, signalling a tougher stance on public financial management and accountability.
According to the circular titled “Guidelines of Financial Activities for End of the Year 2025,” MDAs must prepare and render their stand-alone annual financial reports to the treasury before the close of the fiscal year. Dr. Ogunjimi warned that institutions that fail to comply will have their access to budgetary funds halted indefinitely and face administrative sanctions at the leadership level. Queries will be issued to the directors or heads of accounts and administration in defaulting agencies.
The government’s directive also instructs all MDAs to ensure that revenues due to the Federation Account and the Consolidated Revenue Fund/TSA Sub-Recurrent Account are fully collected and properly accounted for before year end. Agencies authorised to retain 50 per cent of their internally generated revenue are reminded to remit the remaining 50 per cent into the TSA Sub-Recurrent Account in line with existing financial regulations. There is an emphasis on uploading revenue collection and remittance reports into the Government Integrated Financial Management Information System (GIFMIS) platform to ensure completeness and transparency of records.
The warning reflects the federal government’s renewed push to strengthen financial discipline and accountability in public service as the country prepares to close the books on the 2025 fiscal year. The move comes amid broader reforms in public finance, including the transition to full digital revenue collection and cashless systems, aimed at eliminating leakages and improving transparency in government transactions from January 2026.
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