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HomeBusinessNigeria's MDAs remit N2.15 trln to government treasury from operating surplus ~FRC

Nigeria’s MDAs remit N2.15 trln to government treasury from operating surplus ~FRC

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Federal Ministries, Departments and Agencies remitted over N2.15 trillion into the Consolidated Revenue Fund of the Government as operating surpluses over the past 11 years, according to the Fiscal Responsibility Commission (FRC).

FRC Chairman, Victor Muruako, said; “Over N2.15 trillion was paid into the Consolidated Revenue Fund of the Federal Government over the past years as operating surplus from government corporations against just about N7 billion government allocation to the agency since inception.”

Muruako, who said this while on a courtesy visit to the Minister of Special Duties and Inter-Governmental Affairs, George Akume, in Abuja also sought the minister support to organise a National Fiscal Responsibility Forum for local government chairmen and councilors.

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He said the forum is meant to inculcate in them, the principle of prudent management of resources, transparency and accountability.

“With the collaboration of your ministry which oversights local government affairs, we propose a day national forum that will create an enabling environment to engage the leadership of LGs on the need to rise up to the challenge of using their positions to better the life of people.”

On his part, Akume expressed the readiness of his ministry to work with FRC to ensure prudent and transparent management of resources by all tiers of government.

He said his ministry would set up a technical team while the commission should also constitute a similar team to work together for the realisation of the proposed national forum for LG chairmen and councilors.

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