32 MDAs FAILED TO REMIT N1.2tn, SAYS FIRST RESPONSIBILITY COMMISSION.
Written by miebaka ikiriko on May 20, 2021
The Fiscal Responsibility Commission has accused about thirty-two government agencies of failing to remit their eighty percent operating surplus to the consolidated Revenue Fund thereby hindering accurate determination of operating surplus liabilities and diminishing accountability and government revenue.
The commission said over one point two Trillion Naira in revenue was still being withheld by the defaulting agencies keeping money away from government’s reach to fund its budget.
The Chairman of the Commission Victor Murako who spoke while briefing National Assembly Correspondents said the agencies failed to submit their audited account to the commission to enable it calculate their operating surplus which is supposed to be paid into the consolidated Revenue Fund of the Federation.
Murako said over sixty percent of the agencies had always failed to associate their annual budget with the medium Term Expenditure Framework, the template for which annual Federal Government Budget is prepared.