Senator representing Niger East and Chairman Joint Senate Committee on the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper, Senator Sani Musa, has directed all Federal Government revenue-earning agencies to submit to his team, details of their remittances so far in the year 2023.
Senator Musa who is also the Chairman Senate Committee on Finance mandated the office of the Accountant-General of the Federation to collate details of the remittances and the list of defaulting agencies.
The Senate Committee gave the directive on Monday at the ongoing session between it and heads of Ministries, Department and Agencies on the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF-FSP).
Senator Musa who noted that the revenue-generating agencies were not remitting fully their revenue to the Consolidated Revenue Fund, declared that the Fiscal Responsibility Act was being observed in the breach by the MDAs.
His remarks were on the heels of a presentation by the Nigerian Institute of Legal and Advanced Studies and the Nigerian Maritime Academy who defended their delayed remittances to the Consolidated Revenue Fund.
He cautioned that federal government revenue agencies would no longer be allowed to spend the revenue they generate.
He said “The National Assembly is working hard to protect the economy of the country.
“The Nigerian National Petroleum Company Limited (NNPCL) for instance, is a Nigerian entity it must abide by the Nigerian rules, it must abide by the ground norms. When it is due to remit, it must do so.
“No agency of the government should come before us to say they are exempted from remitting revenues to the consolidated revenue funds.
“The Accountant General should take note of the agencies that had yet to remit their revenues to the Consolidated Revenue Fund.
“You should liaise with the Committee’s secretariat so that we can find time to reconvene like this to sort out those issues.”
The Chairman of the Senate Joint Committee restated that the MDAs should present a breakdown of their revenue collection and remittances from January to date to the committee.
Musa equally al expressed disaffection over the disparity of revenue projections and remittances in the presentations by the Nigerian Communication Commission (NCC) and presentation by the Office of Accountant General for the Federation.
He also appealed to the Accountant General of the Federation to interface with MDAs for reconciliation of remittances made and revenue projections in the 2026-2027 MTEF and FSP.
Agencies that made presentations on Monday in the weeklong public hearing included the Office of Accountant General of the Federation, (OAGF), Nigeria Maritime Academy, and Nigerian Institute of Advanced Legal Studies.
Others were the National Oil Spill Detection and Response Agency (NOSDRA), Development Bank of Nigeria (DBN), and the Debt Management Office (DMO).
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