The Senate Committee on Finance has raised the alarm that some government-owned agencies has failed to remit over N2tn to the federation account from 2014 till date.

The Chairman of the Committee, Senator Solomon Adeola, stated this during his panel’s interaction with the Finance Minister, Zainab Ahmed; the Accountant General of the Federation, Ahmed Idris, and the Director-General of the Budget Office, Ben Akabueze, on Friday.


A video clip of the meeting released by the panel on Sunday and transcribed by our correspondent indicated that the interaction session was in furtherance to the panel’s ongoing probe of federal agencies and ministries’ revenue remittances to the federation account.

Adeola lamented that over N2tn of revenue generated by the GOEs in the last seven years might be trapped with them or even spent on frivolous issues.

He said such action was contrary to the 1999 Constitution of the Federal Republic and the Fiscal Responsibility Act of 2007.

The panel is currently conducting an investigation into the revenues being remitted by the MDAs between 2014 and 2020 and the payment of one per cent stamp duty on all contracts awarded by the MDAs within the same period.




Adeola noted with concern that the Office of the Accountant General of the Federation was not firm enough in the collection of the Operational Surplus hanging in many agencies.

The operating surplus of an enterprise measures the difference between revenue and expenditure; that is, the surplus or deficit that is accruing from production.

https://punchng.com/govt-owned-agencies-didnt-remit-n2tn-alleges-senate-panel/

NAwaoooo nija

Where is Bubu when you need him? Non remittance!

They were shouting TSA that wasn't even their initiative up and down-saying it will block revenue leakage and institutional corruption inherent in govt yet some MDAs "failed to remit over N2tn from 2014 till date."

Why was this being discovered now? Were the MDAs not coming for budget defense and auditing? What was the auditor general office doing? What about the financial experts that were once allegedly deployed by the government to MDAs to prevent all these theft & corruption? They just went to catch cruise.

The truth is that this APC government is the most corruption personified ever seen in histroy. Right from the presidency to the least in under order.Even Buhari's former late driver scammed his master to sign off an illegal #150M contract.

NEPA Bill president

Same government! Same crooks.God save Nigeria.

Awon st saints.
Lalasticlala.

https://punchng.com/govt-owned-agencies-didnt-remit-n2tn-alleges-senate-panel/
Who will be answerable for this shit now? They were shouting corruption up and down but here is where Nigerian is standing today.

Racoon:
https://punchng.com/govt-owned-agencies-didnt-remit-n2tn-alleges-senate-panel/
Who will be answerable for this shit now? They were shouting corruption up and down but here is where Nigerian is standing today.

Corruption pre 2015 is like an ant compared to elephant we have now. Can you believe no Nigeria passport is being issued anywhere due to lack of booklets and people have made payments for months!