The federal government has vowed to take steps to address the issue of banks lending money to state governments without adhering to the provisions of the Fiscal Responsibility Act (FRA). Additionally, the government has directed the Fiscal Responsibility Commission (FRC) to provide increased technical support to local government councils in line with recent developments granting these councils...
States across the country have been urged to implement the Fiscal Responsibility Law to promote financial accountability and support the Federal Government’s efforts in strengthening the economy. Chairman of the Fiscal Responsibility Commission, Victor Muruako, made the call while speaking to newsmen at the sidelines of the financial accountability retreat for sub-nationals and civil societies...
The Fiscal Responsibility Commission (FRC) has successfully compelled various Federal Government Agencies and arms of government to remit over N2 trillion into the Consolidated Revenue Fund (CRF) since 2007. The disclosure was made on Tuesday, August 27, by the Executive Chairman of the Fiscal Responsibility Commission, Victor Muruako, during a one-day study visit of the...
Oru Leonard The Nigerian Economic Society (NES) has called for collaboration with the Fiscal Responsibility Commission in the area of fiscal studies aimed at timely intervention for economic stability. The president of the Nigerian Economic Society, Prof. Adeola Adenikinji stated this recently during a courtesy visit to the Executive Chairman of the Fiscal Responsibility Commission,...
The Executive Chairman, Fiscal Responsibility Commission, Victor Muruako, Esq. paid a courtesy visit to Ahmed A. Halilu Managing Director of the Nigerian Security Printing and Minting (NSPM) Plc on Friday. The visit aimed to strengthen inter-agency relationships and explore potential areas of collaboration. FRC Boss highlighted the role of the Fiscal Responsibility Commission and how...
Staff of Nigeria’s Fiscal Responsibility Commission (FRC) recently completed a one-week benchmarking and peer learning visit to the Parliamentary Budget Office (PBO) of Kenya, facilitated and sponsored by the IMF’s African Regional Technical Assistance Centre in West Africa (AFRITAC West 2) based in Accra. The visit aimed to enhance knowledge sharing and best practices in...
The Fiscal Responsibility Commission (FRC) embarked on its Sensitisation and enlightenment of the members of the National Youth Service Corps (NYSC) on issues around fiscal governance. The exercise took place simultaneously at five NYSC Orientation Camps in Abuja, Nasarawa, Benue, Kogi and Minna while the same exercise will take place in Kaduna State Orientation Camp...
The provision of technical support by the Fiscal Responsibility Commission (FRC) to the revenue hearings conducted by the National Assembly Committees on Finance led to an increase of independent revenues amounting to N1.84 trillion to the federal government in 2023. This was disclosed by the Executive Chairman of the Commission, Victor Muruako Esq, at a...
2024 Budget: FG Kicks Off Verification Of ₦2.9trn Capital Projects FRC begins projects inspection across 6 geo-political zones The Fiscal Responsibility Commission (FRC) will on Monday begin physical verification of selected Federal Government capital projects worth N2.9 trillion earmarked in the 2024 fiscal budget across the six geo-political zones of the country. The projects earmarked...
