Amid unprecedented borrowings by the Federal Government to fund the nation’s budget, the Chairman of the Fiscal Responsibility Commission (FRC), Victor Muruako, has revealed that some federal Ministries, Departments and Agencies (MDAs) were yet to remit over N1.5 trillion of their operating surpluses. The FRC chairman disclosed this yesterday in Abuja at a training for Accounting...
The Chairman, Fiscal Responsibility Commission (FRC), Abuja, Victor Muruako, has urged state governments to enact Fiscal Responsibility Laws and set up related Commissions, as macro-economic stability for the country cannot be achieved by the Federal Government alone. Muruako also commended the Governor of Benue State, Samuel Ortom, for setting the Fiscal Responsibility Commission in addition to having an enabling...
The Fiscal Responsibility Commission, said it has generated over N2 trillion since inception in 2007. Chairman of the Commission, Victor Muruako made the revelation. The money, according to him, has been remitted into the Consolidated Revenue Fund (FRC). He made this comment on Tuesday when he appeared before the Senate Committee on Finance for the...
Amid declining revenues as the government continues to grapple with the devastating impact of the coronavirus pandemic, the amendment of the Fiscal Responsibility Act (FRA) is crucial, to empower the agency discharge its mandate of mobilizing needed funding for the country’s annual budgets, the Accountant-General of the Federation, Ahmed Idris, has said. Idris spoke on...
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has pledged to work with the Fiscal Responsibility Commission (FRC) in retrieving about N1.2trillion worth of operating surplus held by defaulting Ministries, Departments and Agencies (MDAs) of the federal government. The EFCC boss made the pledge when the Chairman of the FRC,...
The Fiscal Responsibility Commission (FRC) has accused about 32 government agencies of failing to remit their 80 per cent operating surplus to the Consolidated Revenue Fund (CRF), thereby hindering accurate determination of operating surplus liabilities and diminishing accountability and transparency in handling government revenue. The commission said over N1.2 trillion in revenue was still being...
The Fiscal Responsibility Commission (FRC) has said that 32 government agencies have failed to remit over N1.2 trillion to the Consolidated Revenue Fund (CRF) as required by extant law. This figure, according to the FRC represents 80 per cent operating surplus to the CRF. The executive chairman, Fiscal Responsibility Commission, Mr Victor Muruako, stated this...
The Fiscal Responsibility Commission (FRC) on Wednesday revealed that the commission is planning an amendment to its ACT, established in 2007 to secure imprisonment to heads of Ministries, Departments and Agencies (MDAs), robbing the Federal Government (FG) of statutory funds. The Executive Chairman of the Commission, Victor C. Muruako who disclosed this while briefing House...
