MDAs Fails To Remit Over N1.2tr -FRC

Written by Basirat Memudu
Chairman of Fiscal Responsibility Commission, Mr Victor Muruako


Fiscal Responsibility Commission (FRC), says in spite of its efforts at seeing Ministries Departments and Agencies (MDAs) remit the right percentage of internally generated revenues into the the federation account, over 1.2 trillion naira is still being withheld.

Chairman of the Commission, Mr Victor Muruako, who disclosed this while speaking to newsmen at the National Assembly, lamented that many MDAs still persist in defaulting thereby depriving the federal government the funds to implement it’s budget.

Mr Victor Muruako, also stresed that in line with the Fiscal Responsibility Act, 2007 Government-owned Enterprises and Corporations are to remit 80 percent of their Operating Surpluses to the Consolidated Revenue Fund of the Federal Government.

The Chairman who was concern over the negative attitudes therefore, called for urgent review of the Fiscal Responsibility Act, 2007, to give the Commission enforcement capability, with a view to calling such erring MDAs to order to fully comply with the law.

He said lack of powers to sanction the defaulting MDAs had remained the biggest challenges in the discharge of the Commission’s constitutional mandate thereby affecting the economic status of the country.

The Chairman of the Commission however, revealed that with the agency in place, there have been improved mobilization of domestic revenue, adding that the total figure paid as Operating Surplus since the establishment of the FRC to date is beyond 2.15 trillion naira.