The council, which receives annual budget worth several billions of naira, failed to remit its revenue generated to Federal Government since inception as provided by extant laws.
The committee also alleged that the council failed to provide update of its audited accounts to the Auditor-General of the Federation and relevant committees of the National Assembly.
To this end, the House Committee resolved to investigate the financial status, assets and expenditure of the council to ensure accountability and transparency in the management of public funds.
Solomon Adeola, chairman, House Committee on Public Account, who presided over the investigative public hearing, expressed displeasure over the failure of some of the 262 Ministries, Departments and Agencies, MDAs, to provide their audited accounts to the office of the Auditor-General of the Federation from inception.
Adeola said: “The attitudinal behaviour you, WAEC, have exhibited over the years does not portray the kind of institution Nigerians expect of WAEC. Is it the monumental fraud, or lack of records, or financial Improprieties that have taken place in the institution?
“I was not taken aback when I found your name on that list (of Auditor-General). I was not surprised. It is expected.
“Sir, if you know the amount of fraud accruing to WAEC day in, day out; year in, year out and all that WAEC can tell Nigerians is that they only submitted their audited account up to 2010? And as a result of our insistence that made them rush down with 2011 and 2012 while 2013 is still awaiting the signature of the Council.
“Aside from that, WAEC, all money accruing to you, you don’t report anything to the Federal Government, yet you still collect subventions like others. Money accruing to WAEC going to several billions of naira, and that same institution does not render account as at when due, even when state governments now pick up your bills for all schools? I’m not surprised.
“You are an endangered species and we need to take care of you specially. So, it’s a special investigation to be conducted on WAEC.
“This committee is going to be investigating WAEC for 2011, 2012 and 2013. We’re not insinuating anything, but it’s only fair and proper that an institution like WAEC that is generating much revenue annually must account for how that revenue is spent.
“I know that a whole lot of activities including contracts are being awarded by WAEC. We want to know how much is generated by the sale of forms and how much subvention is paid to the headquarters in Accra as well as other expenditures.”
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