FG to Deal With Agency Heads Over Diversion of Revenue

The Federal Government has warned it would deal with heads of agencies that divert revenues instead of paying same to the Central Bank of Nigeria.

Minister of Finance Kemi Adeosun announced this in an interview with State House reporters after yesterday’s Federal Executive Council (FEC) meeting.

She was answering questions regarding heads of agencies that had collected revenues in dollars and remitted same in naira.

There is an ongoing audit of revenue-generating agencies by the international firms of KPMG and PriceWaterHouse Coopers (PWC) to carry out a forensic audit of such agencies.

 Such agencies include Nigerian National Petroleum Corporation (NNPC), Federal Inland Revenue Service (FIRS), Nigeria Customs Service (NCS), Department of Petroleum Resources (DPR), Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC), Corporate Affairs Commission (CAC), Nigeria Ports Authority (NPA), Nigeria Communications Commission (NCC), Federal Airports Authority of Nigeria (FAAN), Nigerian Civil Aviation Authority (NCAA), The Nigerian Maritime Administration and Safety Agency (NIMASA), Nigeria Deposit Insurance Company (NDIC), among others.


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