‘We’ve Forced MDAs To Remit N350b To Treasury’ | Independent Newspapers Limited
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‘We’ve Forced MDAs To Remit N350b To Treasury’

Posted: Aug 6, 2015 at 9:32 pm   /   by   /   comments (0)

Acting chairman of the Fiscal Responsibility Commission (FRC), Victor Muruako, has said the agency has caused agencies to remit N350 billion to the Federation Account as operating surpluses from revenue generating agencies.

Muruako made the statement at a meeting on the “Assessment of Nigeria’s Fiscal Responsibility Index”, organised by the commission in collaboration with the Centre for Social Justice in Abuja on Thursday.

“Had the commission been properly supported, more money would have been generated,” he said.

The FRC head said the index would be a template for monitoring officials saddled with the management of public resources in MDAs.

The index would also ensure standardisation and simplify the monitoring and accountability of public finance by the commission in the31 revenue generating agencies it supervised.

According to him, Nigeria had institutions such as the Financial Reporting Council, Nigeria Extractive Industries Transparency Initiative and the Bureau of Public Procurement, which remained strategic in the anti-corruption campaign.

“The FRA 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,” he said.