The Fiscal Responsibility Commission has said it succeeded in recovering N350bn from Ministries, Department and Agencies of the Federal Government in the last six years.
Acting Chairman of the FRC, Chief Victor Murako, who made this known at a press conference to announce the convocation of the National Forum on Fiscal Responsibility in Abuja on Wednesday, said that the Fiscal Responsibility Act, 2007 compels the MDAs to pay 80 per cent of their operating surpluses to the treasury. The FRC implements the law and often summons the MDAs that contravene the provisions of the Act.
Murako also kicked against the recommendations of the Steve Orosanye Committee which said that the FRC should be scrapped and its functions absorbed by the Revenue Mobilisation Allocation and Fiscal Commission.
According to him, the commission assessed and ensured the remittance of about N350bn operating surpluses by scheduled corporations to the Consolidated Revenue Fund between 2009 and 2014, while the government has only funded the commission to the tune of N3.6bn.
He added, “So, the argument that the commission should be scrapped in order to save cost cannot hold water. The Fiscal Responsibility Act, 2007 is a veritable winning strategy to fight corruption. Corruption festers where there is idle fund to nibble at by unpatriotic public officials especially where the budgeting process is shoddy and shambolic.
“If the Orosanye report as it relates to the FRC could be seen as unwholesome, the subsequent white paper on the report sanctioning its recommendation can best be described as simply abhorrent.