Fiscal Responsibility Commission hereby makes available the following information, pursuant to the requirements of the Freedom of Information Act (FOIA):
The Commission, its Responsibilities and Structure
The Fiscal Responsibility Commission was established under the Fiscal Responsibility Act, 2007 with mandate to enforce the fiscal rules provided therein to ensure prudent management of the Nation’s resources, long-term macro-economic stability of the national economy, secure greater accountability and transparency in fiscal operations within a medium-term fiscal framework, and the promotion and enforcement of the Nation’s economic objectives under the Constitution.
The Commission has a 5 year single term Board constituted of an Executive Chairman and Six (6) fulltime Commissioner appointed from the Six Geopolitical Zones, and 3 part-time members representing: (i) the Organized Private Sector (ii) Civil Society engaged in causes relating to probity, transparency and good governance and (iii) the Organized Labour. The Chairman and all members of the Board are appointed by the President subject to confirmation by the Senate.
The Key Mandate of the Fiscal Responsibility Commission
Promoting Prudent And Transparent Fiscal Management In Nigeria
A Transparent And Accountable Government Financial Management Framework Of Nigeria.
To ensure that revenue-raising policies, resource allocation decisions and debt management decisions are undertaken in a prudent, transparent and timely fashion.
The Structure and Responsibilities of the Commission
In order to properly discharge its mandate the Commission is structured into Six (6) Directorates, namely: (1) Finance and Administration; (2) Legal, Investigation and Enforcement; (3) Monitoring and Evaluation; (4) Policy and Standards; (5) Planning, Research and Statistics; and (6) Strategic Communications.
Each Directorate is further divided into Departments (Units). The duties assigned to the respective directorates are as follows: