The Executive Chairman of the Fiscal Responsibility Commission (FRC), Victor Muruako, Esq., has called for intensified nationwide advocacy on the Fiscal Responsibility Act (FRA) 2007, stressing its critical role in promoting transparency, accountability, and prudent management of public funds.
Muruako made this appeal while receiving Retired Commodore Ogechi Osuagwu (Ochiagha) — a respected member of the League of Professionals and former frontline State Executive Committee member of the Peoples Democratic Party (PDP) in Imo State who paid him a courtesy visit at the Commission’s headquarters in Asokoro, Abuja, a statement by the FRC Spokesperson, Bede Ogueri Anyanwu noted.
The FRC Chairman highlighted that since its enactment, the FRA has served as a robust legal instrument to curb financial leakages in government by mandating that “every kobo allocated for public use must be accounted for in a prudent and transparent manner.” He recalled that prior to 2007, public officials often expended funds at their own discretion, with little or no oversight.
“The Act has helped to block leakages in many government sectors—every kobo must be prudently and transparently accounted for,” Muruako reiterated.
He particularly urged Nigerians to take advantage of Section 51 of the Fiscal Responsibility Act, 2007, which empowers any citizen—without the need to prove a special interest—to demand transparency and accountability in public finance management.
“You can go to court. You can organize advocacy campaigns. You can even establish NGOs dedicated to good governance and responsible public finance. The law gives you that power,” he stated.
According to Muruako, wider public awareness and civic engagement will strengthen the Act’s enforcement and help institutionalize fiscal discipline across all tiers of government.
In his remarks, Retired Commodore Osuagwu commended Muruako for his visionary leadership, describing the FRC as “a vital agency in the life of the Nigerian economy.” He acknowledged that while Nigeria began on a flawed path in public financial management, the FRA 2007 has brought significant progress: “We started on the wrong note, but with the Fiscal Responsibility Act of 2007, we are beginning to get it right,” he affirmed.
Reflecting on the pre-FRA era, Osuagwu noted that “there was so much rot and corruption in the system before the Act was established.” He stressed the need for Nigerians to not only manage national resources more prudently but also apply the same discipline in managing their personal finances.
He further advocated for strengthening the Fiscal Responsibility Act, 2007 to give it greater enforcement powers and deterrent effect. Describing Muruako as “an achiever and goal-getter who delivers on every assignment entrusted to him,” Osuagwu pledged support for the Commission’s advocacy efforts.