Politics
Lawmakers Warn Of Blocking Agency Funds Amid Revenue Remittance Dispute
Lawmakers Warn Of Blocking Agency Funds Amid Revenue Remittance Dispute....KINDLY READ THE FULL STORY HERE▶
The House of Representatives Committee on Finance has issued a stern warning, threatening to freeze the accounts of government agencies that have failed to disclose their revenue profiles or accurately remit funds to the government.
During the committee’s revenue monitoring session, Vice Chairman Saidu Abdullahi (APC, Niger) expressed dismay over the non-appearance of several agencies despite invitations. Out of the eight agencies invited, only two, namely the Financial Reporting Council of Nigeria and the National Health Insurance Authority, honored the committee’s summons. Two others requested rescheduling, while the Lagos International Trade Fair Complex, National Broadcasting Commission, National Examination Council, and National Inland Waterways Authority neither attended nor communicated their absence.
Abdullahi emphasized the importance of agencies fulfilling their obligations, stressing that failure to do so would result in consequences. He warned that if the aforementioned agencies failed to appear before the committee by the following day, the committee would be compelled to take appropriate action, including potentially blocking their accounts through the Office of the Accountant General.
Meanwhile, Musa Jemaku, Director of Finance and Account at the Financial Reporting Council of Nigeria, disputed claims by the Office of the Accountant General regarding the agency’s non-payment of operating surpluses for the years 2019, 2020, and 2021. Jemaku clarified that there was a circular from the Ministry of Finance automating the process of paying deductions mandated by the Finance Act 2020, and criticized the lack of official communication from the AGF regarding the alleged non-payment.
The meeting underscored the importance of agencies meeting their financial obligations to the government, with the committee reaffirming its commitment to ensuring compliance with revenue remittance regulations.
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Source: Bushradiogist
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