{"id":7762,"date":"2013-08-05T05:39:51","date_gmt":"2013-08-05T05:39:51","guid":{"rendered":"http:\/\/disnaija.com\/nigerian-newspapers\/fg-revenue-agencies-steal-n2trn-annually-reps\/"},"modified":"2013-08-05T05:39:51","modified_gmt":"2013-08-05T05:39:51","slug":"fg-revenue-agencies-steal-n2trn-annually-reps","status":"publish","type":"post","link":"https:\/\/disnaija.com\/fg-revenue-agencies-steal-n2trn-annually-reps\/","title":{"rendered":"FG revenue agencies steal N2trn annually \u2013Reps"},"content":{"rendered":"
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Revenue generating agencies of the Federal Government have been accused of stealing N2 trillion annually.<\/p>\n

The Chairman, House of Representatives Committee on Finance, Hon. Abdulmumin Jibril (PDP-Kano), made the accusation while speaking with journalists at the weekend.<\/p>\n

Jibril said his committee discovered about 60 revenue generating agencies which had not been remitting their revenues to the government coffers contrary to the provisions of the Fiscal Responsibility Act.<\/p>\n

He said: \u201cWe did some kind of internal work and came to a conclusion that collectively most of these agencies if we harness their potential altogether, we should be talking about a collection of over N2 trillion per annum, which is almost 70 per cent of the total capital budget of the country.<\/p>\n

\u201cWe started the exercise and went beyond the 31 agencies. We said let\u2019s see if it is only 31 agencies that raise such revenue, and we picked 60 agencies. The result has been overwhelming. We discovered that the process is shielded in massive fraud, connivance, concealment and so on.<\/p>\n

\u201cWe found out that all of the 60 agencies are generating a lot of money and very insignificant proportion is being remitted to the Consolidated Revenue Fund, less than 2 per cent or 3 per cent of such.\u201d<\/p>\n

Jubril said the committee built a template and gave the agencies where they filled in all their figures.<\/p>\n

He added: \u201cWe then computed all what the agencies should pay. They started paying in December last year. From that time to May this year, going by the figures from office of the Accountant-General, they paid a total of N108 billion.<\/p>\n

\u201cWe want to strengthen them to now become more aggressive in this process of revenue generation. On one hand, they say they are not mentioned in the schedule of the Fiscal Responsibility Act, so why are we asking them to pay? Even when they generate those resources and they do not account for them.<\/p>\n

\u201cBut the most frustrating thing about it is that most of the agencies that take subventions from government, that money is budgeted for them 100 per cent, they raise this revenue and do not remit it.<\/p>\n

\u201cThat was why we decided that we were going to take this exercise to another level, and we will make sure that these agencies continue to remit exactly what they are supposed to remit.\u201d<\/p>\n

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Posted in Nigerian Newspapers. <\/a>A DisNaija.Com<\/a> network.<\/p>\n

Source: National Mirror Newspaper<\/p>\n

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