By Fatou Sillah
The 2024 report of the Auditor General has highlighted serious concerns over unreconciled government cash and bank items, dormant accounts, and discrepancies in official financial statements, raising questions about fiscal oversight and accountability.
The audit found that government cash and bank items remain unreconciled for multiple financial years, totaling GMD 8.5 million in receipts and GMD 14.9 billion in payments between 2019 and 2024. Despite these discrepancies, corrective measures have not been implemented, according to the report.
In addition, the report identified nineteen dormant government accounts at the Central Bank and commercial institutions, including Zenith Bank, which have been inactive for over five years yet remain open, in violation of regulatory requirements.
“We noted that nineteen (16) dormant government accounts held at the Central Bank and commercial bank (Zenith Bank) for over five years remained inactive. However, these accounts remained open, contrary to the regulations,” the report states.
The audit further revealed inconsistencies between reconciled and actual year-end balances, resulting in inaccurate disclosures under Note 15 (Cash and Cash Equivalents) of the government’s financial statements. Specifically, differences amounting to GMD 650.7 million and USD 7.13 million were found between the cashbooks for special projects and the balances reported in the official statements.
Unreconciled items linked to below-the-line (BTL) accounts, particularly for special project funds in both Dalasi and U.S. dollars, remain unresolved. According to the report, GMD 88.1 million in receipts and GMD 929.6 million in payments related to these accounts have yet to be cleared.
“On overdue unreconciled items (BTL accounts), our review of the bank reconciliation statements from the IFMIS system revealed that unreconciled items related to BTL (Special Project Dalasi and US Accounts) amounting to GMD 88,110,781.07 for receipts and GMD 929,562,238.74 for payments remained uncleared,” the report says.
The Auditor General also flagged a discrepancy of GMD 4.87 million between total BTL receipts recorded in the general ledger and the corresponding bank statements. Furthermore, ten government accounts, with a combined balance of GMD 263 million, were erroneously classified as third-party accounts in the statement of deposits, contrary to proper accounting requirements.
The findings underscore persistent gaps in financial management and the need for stricter adherence to regulations governing government accounts and reconciliations.