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MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says - Business - Nairaland

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MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by kenfa: 11:25am On Sep 08
The non-remittance of revenue by most ministries, departments and agencies of government to the Consolidated Revenue Funds of the Federal Government is currently N1.2tn, the Fiscal Responsibility Commission said on Monday.

The FRC is responsible for mobilising funds from government owned organisations through the payment of operating surplus to finance government’s budget.

The Acting Chairman of FRC, Victor Muruako, said the unremitted N1.2tn could be used to fund part of this year’s budget.

He called for the strict enforcement of the Fiscal Responsibility Act 2007, saying this could help to stop borrowings by government.

Muruako spoke at the opening session of a three-day management retreat for employees of the commission in Abuja.

He said, “Today, our records still show that most of the 122 agencies of government are in default of more than N1.2tn which can fund a substantial portion of the Federal Government of Nigeria budget deficit if remitted in line with FRA 2007.

“These sums are calculated from already submitted end of year audited accounts of the defaulting agencies, which means the monies can be traced and recovered.”

He said the FRC had insisted that if the government could implement the commission’s recommendations of reigning in more government owned corporations in the Schedule of the FRA 2007, there might be no need for government to borrow to fund the budget.

Muruako said there was need to add more agencies to the net of payment of operating surplus.

He said almost all government organisations generate funds one way or the other, but they equally spend on items that were unnecessary, while government continues to seek for loans to fund its budget.

The FRC boss said, “Notably, from the initial 31 corporations in the Schedule of the FRA 2007, another 92 has been added by the Ministry of Finance as recommended by the commission.

“This action has made it possible for the commission to have caused these GOEs (government owned establishments) to pay in over N1.7tn to the Consolidated Revenue Funds.”

He added, “This was from payment of operating surplus by government owned organisations with far less than N5.8bn government investment in the commission comprising overhead, capital expenditure and personnel for the past 11 years of the commission’s existence.”

He said these funds were hitherto spent by these agencies without tracing through unorthodox accounting systems and all forms of financial manipulations.

On the retreat, Muruako said it would focus on the best ways to utilise available resources so that the economy would not be allowed to fall to the predictions of international financial institutions.

https://punchng.com/mdas-failed-to-remit-n1-2tn-says-fiscal-commission/

3 Likes 1 Share

Re: MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by descarado: 11:28am On Sep 08
What a joke of a country undecided

22 Likes

Re: MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by Nbotee(m): 11:33am On Sep 08
By the time dis APC govt is through with Nigeria, we will b begging even Ghana to colonize us..

35 Likes 2 Shares

Re: MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by SocialJustice: 11:35am On Sep 08
Revenue leakage is too much..

Government has done a lot under Buhari than any other government to stop revenue leakage but more needs to be done.

The FG should go 100% digital. No one dealing with the government should use cash.

Even Nigeria needs to go digital like China.

17 Likes 4 Shares

Re: MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by iamvictorbassey: 2:52pm On Sep 08
When I say every Nigerian is a thief, some people will be screaming minus me o, minus me o.

Oga, being a thief is not judged only by action, but also by the tendency to steal. If you know deep down that you'll steal money when you get there, then you're already a thief in waiting.


Nigerian politicians be like

42 Likes 2 Shares

Re: MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by mcmukoko12(m): 2:52pm On Sep 08
na wa o

1 Like

Re: MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by Vyzz: 2:52pm On Sep 08
shocked

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Re: MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by Mathantics: 2:52pm On Sep 08
Mr. Integrity have finished Nigeria.

Nigerians are working for criminals.

After looting, they will still borrow and loot.

1 Like

Re: MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by Dangrace01: 2:52pm On Sep 08
Hmm

Re: MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by bolaayenimo: 2:52pm On Sep 08
Lie will say "corruption under this government is exagerrated"

3 Likes

Re: MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by HAROLDWILSON: 2:53pm On Sep 08
As usual! Nothing new. Second base jare!

1 Like

Re: MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by Nobody: 2:53pm On Sep 08
There is still money around the country. Why do we still claim the position of 'poverty capital of the world' ?

Don't just read the comment and go, Check out our signature, you will find it useful

1 Like

Re: MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by Fash20: 2:53pm On Sep 08
Oboy!

What exactly is wrong with these people. They just keep stealing and mismanage fund as if the country is lawless like some kind of zoo or jungle

Don't let me be quick to judge sha, maybe they are saving the money for the country in some foreign account.


But I know its the same story.





Believe this country has anything to offer you at you own peril.

3 Likes

Re: MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by Areaboy2(m): 2:53pm On Sep 08
descarado:
What a joke of a country undecided

my first thoughts exactly.. is this a joke or what?
In fact, i give up undecided

1 Like

Re: MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by Carthman(m): 2:53pm On Sep 08
Who remember this word”Am for Everybody and Am for Nobody” grin grin

1 Like

Re: MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by Ykc2(m): 2:54pm On Sep 08
Ishaq Akintola brother on naira land will attack who post this brr

1 Like

Re: MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by alphaNomega: 2:54pm On Sep 08
Oya na, they failed to remit, call police angry

1 Like

Re: MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by hisgrace090: 2:54pm On Sep 08
I have find out that everybody in this govt is doing as it pleases him or her as there's non to question any.



As it stand now Nigeria is undergoing a leadership vacuum.

1 Like

Re: MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by Rgade: 2:54pm On Sep 08
How do you know how much they generate?
Amebo. sad

1 Like

Re: MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by Jack005(m): 2:54pm On Sep 08
Nigeria jagajaga, everything scatter scatter.. Failed nations,failed leaders!
Re: MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by AuthegaPRIMUS(m): 2:55pm On Sep 08
Chai
Re: MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by relicng(m): 2:55pm On Sep 08
Naija
Re: MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by obembet(f): 2:55pm On Sep 08
And they want to take over churches grin

2 Likes

Re: MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by Ogaga87(m): 2:55pm On Sep 08
If PDP were to be the ones in power, confused Nigerians will be shouting.. In the height of our anger we brought in these liars and criminals into power.. Even forgiving ourselves for this mistake is not saving the situation..

3 Likes

Re: MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by Simplyleo: 2:55pm On Sep 08
So what should we do about it?

And what have you done with the remited once.

After sharing it among yourselves, you are now coming to inform us just for the records.

2 Likes

Re: MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by classicfrank4u(m): 2:55pm On Sep 08
Kk
Re: MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by Rebuke: 2:55pm On Sep 08
Smh. The mega fraud going on under this so called man of integrity is perplexing.


Unaccounted 1.2trillion just under one ministry alone. That's, if it's not even much more than that o.


Fact is, every ministry is frauds filled under this government.


Naija sorry sorry o.

1 Like

Re: MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by PapaBaby: 2:56pm On Sep 08
Buhari is undoubtedly the king of maladministration.

2 Likes

Re: MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by Tajbol4splend(m): 2:57pm On Sep 08
Snake too plenty for government building, na why

4 Likes

Re: MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by Creamz(m): 2:57pm On Sep 08
Sell the country, let's share the money. They failed to remit the exact same size of money used in subsidising fuel and now they want people to suffer because nigeria is " broke" yet we have trillions of funds unremitted

1 Like

Re: MDAs Failed To Remit N1.2 Trillion - Fiscal Commission Says by Vyzz: 2:57pm On Sep 08
shocked..



Is the car for sale...?

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