President Muhammadu Buhari has directed the Ministry of Finance
to commence immediate audit of the accounts of all revenue
generating agencies. Among agencies to be audited are the Federal
Inland Revenue Service (FIRS), Nigerian National Petroleum
Corporation (NNPC), Nigerian Maritime Administration and Safety
Agency (NIMASA), the Nigerian Customs Service (NCS), Nigerian
Ports Authority (NPA), Nigerian Civil Aviation Authority (NCAA) and
Nigerian Television Authority (NTA).
The decision is part of strategies by the Federal Government to plug
all revenue leakages and save monies to fund critical infrastructure.
Minister of Finance, Mrs. Kemi Adeosun, who briefed State House
Correspondents yesterday at the end of the Federal Executive
Council (FEC) meeting alongside the Minister of Information and
Culture Alhaji Lai Mohammed, said government was concerned
about the continued failure of some agencies to remit funds into the
Consolidated Revenue Fund (CRF).
Adeosun said that agencies like the National Communications
Commission (NCC) and other ministries, department and agencies
(MDAs) in the past generated and spent government revenues
without any control. Under the provisions of the Fiscal
Responsibility Act, Section 107 (, such revenue generating
agencies are expected to remit 80 per cent of whatever is accruable
to the CRF.
“Let me remind you that under the FRA, these boards and
corporations who generate revenue are supposed to generate and
keep operating surplus, 80 per cent of which is to be credited to the
Consolidated Revenue Fund. “But we have discovered that many
agencies have never credited anything including some whose
salaries, overheads, capital is paid by the Federal Government. “We
also discussed that in some cases, some agencies have a track
record and history of making sure that every Naira they earned is
spent.
We will go in and audit agencies under Section 107 ( of the
Financial Regulations,” she added. Adeosun explained that the
Accountant-General of the Federation has the powers to go in and
make inquiries about how public money is spent. “So, we will be
sending in auditors to some agencies where we believe that their
cost is simply excessive and not in keeping with our expectations,”
the minister said. According to her, government hopes to raise a lot
of savings with which to fund part of the deficit in the 2016 budget.
“We are going to make every naira count and in order to make every
naira count, we have to know how much is coming in and control
how it goes out. “All the ministers concerned agreed that enough is
enough and they even identified boards and agencies under them
where they know that revenue is being diverted,” the minister noted.
She said the Ministry of Finance had, in December last year, issued a
circular requesting that MDAs send their budget in line with the new
initiative of tracking revenue leakages. “What we discussed today
was the responsibility of the ministers to ensure that whether those
agencies have boards or not, those budgets are prepared that the
Ministry of Finance is going to sit down with the supervising
ministers and with the boards concerned, where necessary, to go
through their budgets and make sure that they are reasonable, that
the costs are not inflated,” she stated.
On speculations that the 2016 appropriation bill already submitted to
the National Assembly may have been withdrawn from the
parliament for possible adjustments in the estimates, the minister
said that there was no truth in the report. “But let me make it very
clear the budget is not being withdrawn or replaced.
The budget has been presented and will go through normal process
whereby MDAs defend their budgets. Adeosun, however, explained
that it is possible in the process of scrutinising the budget, that the
National Assembly made adjustments.
“You know the legislature is not a rubber stamp, their job is to
scrutinise the budget and to approve that budget. So, there may be
some changes that occur as a result of that interactive process, but
that process is normal everywhere in the world where a budget is
presented. So, I think it is important to make that clarification,”
Adeosun explained.


http://dailyindependentnig.com/2016/01/fg-begins-audit-nnpc-firs-npa-nimasa-customs/

The "barn" is being opened at last. More goats may be discovered.
..won't be surprised if some of the goats in Dasuki's farmhouse are also found here.

You can't just stop loving President Buhari.

Every single action has been on the right direction for a greater Nigeria.

Accountability was thrown to the dogs during the 16yrs of PDP's infamous reign.
---
Quite reassuring to see some semblance of sanity being gradually restored back to the system. How some youths find something wrong with the President’s commitment to probity is beyond me.

Some people will still be angry at this. Everything angers them.

Please add CBN, that's where our money is kept.

Bevista:
Accountability was thrown to the dogs during the 16yrs of PDP's infamous reign.
---
Quite reassuring to see some semblance of sanity being gradually restored back to the system. How some youths find something wrong with the President’s commitment to probity is beyond me.

Most of the youths have to justify the data bundle they have received from their sponsor. At least man must "wak"

Ok. We don hear. But I still need fuel

Buhari is my boo.
Age is just a number

Buhari is my boo.
Age is just a number

NL should have a delete button

NPA,NIMASA

Another gate to be opened and hope NPA won't involve Bode George and Oyinlola. Because another drama will soon begin and another major character will be known

Lovely.

You gotta admire the man Buhari. Every action he takes is a HIT back to back, from probing the expenditures of the ONSA to clipping the wings of IPODs. Change ti take over!

Bevista:
Accountability was thrown to the dogs during the 16yrs of PDP's infamous reign.
---
Quite reassuring to see some semblance of sanity being gradually restored back to the system. How some youths find something wrong with the President’s commitment to probity is beyond me.

When one over-endures a vice, there comes a point when it starts feeling like a virtue, especially when one is weak in character- 16 years of endurance has perverted the minds of the youths you talk about.

Nice one #buharititakeover

Buhari should take for 16 years! . If you are not happy, do to the lagoon through Marina.

Vicadonis:
Ok. We don hear. But I still need fuel

You wan drink am Cuz I have been buying fuel for 86.50 since Jan 2nd

phemmie06:
Another gate to be opened and hope NPA won't involve Bode George and Oyinlola. Because another drama will soon begin and another major character will be known

And some group of people will still scream witch hunt and propaganda when it starts.

goodlifehyd:
And some group of people will still scream witch hunt and propaganda when it starts.

Na so we go hear am. Everything is witch hunt, na only witch get wahala for our country nothing like ogbanje or mamiwater hunt