Tambuwal who arrived NASS at about 10:45am in an SUV jeep sporting white agbada and cap to match was accompanied by APC lawmakers who shielded him all through his stay.
The speaker who was in NASS to declare open two public hearings slated for 11am and 12noon respectively later went to his office.
The speaker at a one of the public hearing, jointly organised by the House Committees on Public Account and Justice, on a bill to repeal the nation’s Audit Act of 1956 urged financial experts to support an audit act, to facilitate international best practices and assist to eliminate corruption from the financial system.
Tambuwal said that Nigeria must align with modern trend in digital auditing.
He said that the extant Audit Act of about 60 years ago did not give the Office of the Accountant-General of the Federation the required instrument to fight corruption.
Tambuwal said the new act, when passed into law, would create Audit Service Commission that would enable Office of the Auditor General of the Federation to restructure auditing practice in the country.
He said this would subject it to modern trend in digital auditing.
He said the public hearing offered financial experts ample opportunity to make inputs in the bill.
It would also allow the parliamentarians the platform to gather sufficient information to impact on the overall interest of the bill, the speaker added.
Tambuwal also urged participants to contribute meaningfully by ensuring that all aspects of the bill were thoroughly x-rayed and brought in line with international auditing practice.
Earlier, the Auditor-General of the Federation, Mr Samuel Ukura, condemned the non-existence of an auditing act in the country.
He said that the 1956 colonial provision was removed in the country’s laws since 2004.
Ukura said that Nigeria was the only country in the world without a functional auditing act.
He further described it as an inadequacy that had robbed the country of the opportunity of auditing international accounts, “including the ECOWAS account, which headquarters is in Abuja”.
“Ghana audited the United Nation’s account for 30 years, and then passed the baton to South Africa, which is currently auditing the UN accounts.
“Nigeria had been severally denied because the UN has been uncomfortable with Nigeria’s lack of auditing law.
“It is very rare to see an MDA coming to the National Assembly with a bill to have its finances audited.
“This bill, therefore, will put an end to the lingering question of who audits the auditor,” he said.
Ukura said it would be impossible for the Office of Auditor-General to fight corruption without having the legal means to do so.
Also, the Chairman, House Committee on Public Account, Solomon Olamilekan (APC-Lagos) said when passed into law, the bill would impact on the society and add value to Nigeria’s financial system.