Auditors who helped to recover N58bn into the Federation Account are to receive N8.7bn for their efforts, investigation has revealed.

The amount represents 15 per cent of the recovery, which the auditors helped the government to make from banks that failed to remit the money into the Federation Account.

The Revenue Mobilisation, Allocation and Fiscal Commission recently announced that the auditors helped it to recover N58bn, which the banks collecting revenues on behalf of the government failed to remit into the Federation Account.

Investigation by our correspondent showed that the RMAFC signed an agreement that allowed the auditors to receive 15 per cent of any amount they helped the government to recover from the defaulting banks.

The commission also announced that it had issued a demand notice to the banks for another N16.4bn that had yet to be recovered from those of them appointed to collect revenues on behalf of government revenue collecting agencies.

read more:
Auditors to get N8.7bn for recovering N58bn into Federation Account http://www.sanwomi.com/2018/06/auditors-to-get-n87bn-for-recovering.html