The Consolidated Revenue Fund (CRF) account, a dedicated account for the receipt of 80 per cent operating surplus of revenue generating ministries, departments and agencies of government netted N2.7 trillion in 2021 fiscal year. Credit of improved revenue remittance to CRF last year, first time in many years by revenue generating agencies of government, goes...
The Chairman, Fiscal Responsibility Commission, Victor Muruako, has said that any move to scrap or merge the Commission with another government agency will spell doom for Nigeria’s current effort at enthroning fiscal discipline in the way the nation’s resources are managed. The Chairman who made this statement when he received the Director-General of the Bureau...
The Chairman of Fiscal Responsibility Commission, Victor Muruako Esq. has implored the National Prohibition of Trafficking In Persons (NAPTIP) to comply with the provisions of Fiscal Responsibility Act, 2007 in the remittance of operating surplus into the Consolidated Revenue Fund (CRF) in order to boost the revenue of the Federal government which continues to be...
The Fiscal Responsibility Commission has appealed for technical and logistics support from the Economic and Financial Crimes Commission in order to effectively discharge its mandate in the area of transparency, accountability and prudence in public financial management. The FRC Chairman, Victor Muruako Esq. recently made this know when the EFCC Chairman Abdulrasheed Bawa (represented by...
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...
