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COVERNEWSLETTERPOLITICS & GOVERNMENT

32 Govt Agencies Failed To Remit N1.2tn, Says FRC

ANALYSIS: Non-Oil Revenue Surpasses Oil Income By N52.86bn in 2020

The Fiscal Responsibility Commission (FRC) says 32 govenment revenue generating agencies have refused to remit N1.2trn from their accounts.

The FRC Chairman, Victor Muruako, while addressing journalists in Abuja on Wednesday said the affected Ministries, Departments and Agencies  had never presented their audit reports to it since since 2007 when FRC was established.

He alleged that the various agencies had devised means of manipulating their financial reports in order to shortchange the government.

Muruako said the commission had already designed a template and would liaise with all relevant agencies to deduct from the source, from defaulting agencies which would be enabled by the Treasury Single Account (TSA).

He listed the defaulting agencies as the Administrative Staff of College of Nigeria, Bank of Agriculture, Bank of Industry, Cement Technology Institute of Nigeria, Centre for Black African Arts and Civilization, Chad Basin National Park, Federal Radio Corporation of Nigeria and Gashaka Gumti National Park.

Some of them are the Gurara Water Management Authority, Hadejia-Jama’are River Basin Development Authority, Integrated Water Resources Development Agency, Kainji Lake National Park and National Broadcasting Commission (NBC).

Others are the National Business and Technical Examination Board (NABTEB), the National Council of Arts and Culture, the National Drug Law Enforcement Agency (NDLEA), the National Food Reserve Agency, the National Lottery Trust Fund.

The National Space Research and Development Agency, the National Sports Commission, the National Steel Development Fund (now Solid Mineral Development Fund), National Theatre Iganmu, Lagos, National Troupe, Iganmu, Lagos, Nigeria Agricultural Quarantine Service (NAQS), Nigeria Immigration Service (NIS), Nigeria Security and Civil Defence Corps (NSCDC), and Nigeria Content Development and Monitoring Board (NCDMB) are also involved.

Others are the Nigeria Copyright Commission (NCC) , Nigerian Railway Corporation (NRC), the Standards Organisation of Nigeria (SON) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).

About Author

Ife Ogunfuwa is an award-winning reporter who is versed in reporting business and economy, technology, gadgets reviews, telecoms, tax, and business policy review, among others. She loves telling stories behind the numbers. She has professional certifications in business and financial reporting. You can reach her via – [email protected]

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