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...
