“Close all revenue accounts with banks or else”…… – FG warns ministries

The Nigerian government has directed all its ministries, departments and agencies to close their revenue accounts with Deposit Money Banks latest by February 28.

The Accountant-General of the Federation, Mr. Jonah Otunla, who gave the directive at the unveiling of an electronic revenue collection platform aimed at checking theft, diversion of collected revenue and all sorts of corrupt practices associated with revenue collection, said that the balances in the revenue accounts should be transferred to the Consolidated Revenue Fund of the Federal Government.

He also warned that any MDA that failed to comply with the directive by the end of February would be appropriately sanctioned.

The implementation of the project, he stated, began on January 1 this year and that it was meant to enthrone a new regime of centralised, transparent and accountable internally generated revenue management system.

The House of Representatives had in an investigative report on unremitted revenue last year said that 60 revenue generating agencies of the Federal Government failed to remit over N9.4tn to the coffers of the government between 2009 and 2012.


About Author

This is BizWatchNigeria. Nigeria's first online business Newspaper.

Comment here

This site uses Akismet to reduce spam. Learn how your comment data is processed.