Leke Baiyewu, Abuja

The Senate Ad Hoc Committee on Alleged Misuse, Under-Remittance and Other Fraudulent Activities has said revenue agencies short-changed the Federal Government to the tune of N1.7tn as unremitted revenue generated between 2012 and 2016.

The panel blamed it on a memo by a former Minister of Finance, Mrs. Ngozi Okonjo-Iweala, who allegedly issued the memo to the agencies to remit 25 per cent of revenue they generated to the Federal Government and spend 75 per cent on their expenditures.

This was contained in an interim report by the committee chaired by Senator Olamilekan Adeola, which was laid before the Senate last week Thursday, a copy of which was sighted by our correspondent on Monday.


The panel said the amount to be remitted to the Federal Government during the period by 93 agencies it investigated was N21.5tn.

It alleged that 25 of the 93 agencies covered defrauded the government of a total of N1,695,585,887,406.

The committee said the agencies chose to comply with a directive by Okonjo-Iweala via a memo dated November 11, 2011, with Reference Number BO/RVE/12235/259/VII/201 by the former minister “to remit 25 per cent only from the revenue generated and use the remaining 75 per cent, which is a clear violation of Section 120 of the 1999 Constitution of the Federal Republic of Nigeria (as amended) and the Fiscal Responsibility Act 2007 as well as the establishment acts of some of these institutions.”

According to the panel, in the report, the Nigerian National Petroleum Corporation ran at a deficit of N3.1tn, while the Nigeria Customs Service, which generated N335.855bn, failed to remit N83.963bn during the period under review.

The committee alleged that the nation’s cash cow generated N15.541tn, while its entire expenditure during the period was N18.657tn, exceeding the corporation’s revenue profile by N3.115tn.

The report also indicted the Federal Inland Revenue Service, which generated N455.5bn but allegedly failed to remit N33.83bn.

Also, the Nigerian Ports Authority reportedly remitted N86.636bn to the Consolidated Revenue Fund when it generated N789.104bn.

Others indicted by the panel are the Central Bank of Nigeria, remitting N13.716bn out of N3.098tn; NIMASA, N184.489bn out of N301.160bn; Nigerian Television Authority, N5.567bn out of N56.817bn.

The report read in part, “Most of the revenue generating agencies deny the Auditor General of the Federation access to their financial books and records, which is in conflict with Section 125, Subsection (3) a (i and ii); and Subsection (4) of the 1999 Constitution of the Federal Republic of Nigeria (as amended).

“Consequently, the committee recommends as follows: that the Senate should amend the laws where necessary to make it mandatory for all revenue generating agencies to accommodate resident auditors to be posted by the Auditor General of the Federation that will have access to all financial records and books, and to ensure compliance with Section 120(i) of the 1999 Constitution of the Federal Republic of Nigeria (as amended).

“The Fiscal Responsibility Act should be amended in a way to compel all agencies and institutions of government on compliance with financial regulations regarding income generation, accounting and remittances.

“The Senate should also amend the laws where necessary to make it mandatory for all revenue generating agencies to accommodate resident treasury officers to be posted by the Accountant General of the Federation that will have access to all financial records and books.”

http://punchng.com/senate-indicts-okonjo-iweala-says-her-memo-caused-n1-7tn-revenue-loss/

GavelSlam:
In any case, nobody trusts the Senate.

I'm waiting for d grammer they will use in exempting d NASS from these measures!


Nobody mentioned how much d nass itself generated n remitted?!

AM coming back

Did the Senate ask her why she took that decision to know if it was actually good for the economy.?

This bunch of legislooters should bloody get lost. NOI is one of the outstanding ministers in the immediate past administration you can't smear with that nonsense. Unfortunately, His Royal Cluelessness ignored her professional advice and preferred balling with the frog eyed thief to the detriment of the country.

The report read in part, “Most of the revenue generating agencies deny the Auditor General of the Federation access to their financial books and records, which is in conflict with Section 125, Subsection (3) a (i and ii); and Subsection (4) of the 1999 Constitution of the Federal Republic of Nigeria (as amended).

“Consequently, the committee recommends as follows: that the Senate should amend the laws where necessary to make it mandatory for all revenue generating agencies to accommodate resident auditors to be posted by the Auditor General of the Federation that will have access to all financial records and books, and to ensure compliance with Section 120(i) of the 1999 Constitution of the Federal Republic of Nigeria (as amended).

In addition, the senate should immediately pass the bill to amend the 1956 audit ordinance act that is currently before it. If passed, the bill will take care of all the issues raised by the Senator Solomon Adeola committee and highlighted above.

This is just the "worstest" of all NASS esp.the senate Nigeria have ever had.Just imagine these looters sitting like lame ducks while the Buhari government continue to daily obesse Nigerians with one impunity cum corruption or another.

madam thief enabler

vedaxcool:
madam thief enabler

Go to court sir

Them don come again. NOI was conveying a decision of government.

Almost three years into a new government, the hangover of the past is still working on them like someone who took weeds.

The past is the past, no much time to deal with it, forge on and see how things can be improved. Hell no, propaganda is a tool of this government since for almost three years, there is nothing to project as dividends of this government

EternalTruths:
Did the Senate ask her why she took that decision to know if it was actually good for the economy.?

Common sense has answer to that question

Anytime the Buhari govt is exposed or under scrutiny is always coinciding with the arrival of one report exposing misrule of past admin. The pattern is becoming clear and boring to all.

EternalTruths:
Did the Senate ask her why she took that decision to know if it was actually good for the economy.?

They don't have to ask her. It is suppose to distract us from the messy Maina saga where Buhari is implicated.

[s]

hucienda:
You folks are not in the red chamber for nothing.

Amend and/or make laws to direct agencies to do what would be beneficial to the country.

One is sure had NOI not mandated said agencies to remit 25% to the centre during said interval - na 0% dem for remit.

[/s]

Incapable of ever speaking the truth

This part summarizes the whole article;


The committee said the agencies chose to comply with a directive by Okonjo-Iweala via a memo dated November 11, 2011, with Reference Number BO/RVE/12235/259/VII/201 by the former minister “to remit 25 per cent only from the revenue generated and use the remaining 75 per cent, which is a clear violation of Section 120 of the 1999 Constitution of the Federal Republic of Nigeria (as amended) and the Fiscal Responsibility Act 2007 as well as the establishment acts of some of these institutions.”

Section 162(1) of the 1999 Constitution specifically stated that all revenues of the Federation should be paid into the Federation Account. Where did Okonjo Iweala get the powers to direct government agencies to only remit 25% of their generated revenues.

EternalTruths:
Did the Senate ask her why she took that decision to know if it was actually good for the economy.?

So the senate should ask her why she broke the law.

Campusity:
Them don come again. NOI was conveying a decision of government.

Why will a seasoned former world bank president agree to convey a decision that is not only against best financial practices, but also unconstitutional.

Desyner:
They don't have to ask her. It is suppose to distract us from the messy Maina saga where Buhari is implicated.

If you want to talk about the maina saga, open another thread and we will all castigte Buhari for it. This thread is about how Okonjo Iweala aided government agencies to defraud Nigerians to the tune of trillions of naira.

wirinet:


If you want to talk about the maina saga, open another thread and we will all castigte Buhari for it. This thread is about how Okonjo Iweala aided government agencies to defraud Nigerians to the tune of trillions of naira.

You are desperate because you got found out. I am not opening any thread for Maina saga. Invite the MODs ASAP.

Desyner:
You are desperate because you got found out. I am not opening any thread for Maina saga. Invite the MODs ASAP.

Desperate about what? You guys are schizophrenic. It is unreasonable to always answer one question with answers from another question. You will fail your exams if you do that. You do not use the crimes of another criminal as defense for your own crimes.

This heading clearly states; Senate Indicts Okonjo-iweala, Says Her Memo Caused N1.7tn Revenue Loss, so what concerns maina, Tinubu or even Buhari in the matter. If you want to talk about main a, open another thread and we will thrash it out there.

wirinet:


Desperate about what? You guys are schizophrenic. It is unreasonable to always answer one question with answers from another question. You will fail your exams if you do that. You do not use the crimes of another criminal as defense for your own crimes.

This heading clearly states; Senate Indicts Okonjo-iweala, Says Her Memo Caused N1.7tn Revenue Loss, so what concerns maina, Tinubu or even Buhari in the matter. If you want to talk about main a, open another thread and we will thrash it out there.

Well I am no fan of NOI but did she also empower MDAs to waste the remaining 75% ?
How come we always getting these report when Buhari govt is being exposed ?

Desyner:
Well I am no fan of NOI but did she also empower MDAs to waste the remaining 75% ?
How come we always getting these report when Buhari govt is being exposed ?

You do not have to be a fan to know right from wrong. She did not have the power to empower any MDA, she should simply have insisted that MDAs comply with the constitution and remit 100% into the federation account. The MDA would get their fundings and running costs from the national assembly, that is why they present and defend their budget to the national assembly every year. It was wrong for them to determine how much revenue they will declare and then decide to keep 75% of that revenue.

I was a big fan of Buhari and I am one of those that was/is highly disappointed by his performances, having said that, if you want to discus Buhari and his failings, by Jove do so, but you cannot justify all and every crime by all in the past by shouting Buhari.

matters arising

G

wirinet:

You do not have to be a fan to know right from wrong. She did not have the power to empower any MDA, she should simply have insisted that MDAs comply with the constitution and remit 100% into the federation account. The MDA would get their fundings and running costs from the national assembly, that is why they present and defend their budget to the national assembly every year. It was wrong for them to determine how much revenue they will declare and then decide to keep 75% of that revenue.

I was a big fan of Buhari and I am one of those that was/is highly disappointed by his performances, having said that, if you want to discus Buhari and his failings, by Jove do so, but you cannot justify all and every crime by all in the past by shouting Buhari.

And why on earth is report just coming out. You mean a memo to multiple MDAs wasn't known until the news of Maina reinstatement and promotion came out. I am not falling for one low grade propaganda. I will discuss NOI report later.

Rubbish

Demented senators of the Federal Republic of Zoogeria

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Hmm

GavelSlam:
In any case, nobody trusts the Senate.

Yes, Otondos in the senate would have preferred that the 75% that NOI asked the agencies to run their operations were allocated to them in the senate to embezzle as usual

All those idiots in the senate wey if you gather all their brain together ,e no reach one quarter of Okonjo Iweala own in terms of brilliance

I have said this many times way back that Ngozi was sent by her pay slave master to corrupt and destroy our economy !!!!