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Finance Ministry Probes PTDF, NAFDAC, NTA, SEC over N450bn Unremitted Funds
['African Examiner']
Muyiwa Bamidele | African Examiner
Finance Ministry Probes PTDF, NAFDAC, NTA, SEC over N450bn Unremitted FundsABUJA, NIGERIA (AFRICAN EXAMINER] – The Federal Ministry of Finance has announced the constitution of a committee to recover unremitted operating surpluses of agencies of government, running into N450billion.
The committee led by the Accountant General of the Federation, Alhaji Ahmed Idris, is to reconcile the operating surpluses of 31 revenue-generating agencies of government for the period 2010-2015.
The findings of the committee so far, have shown under-remittance of over N450 billion, which has accrued within the period.
The Committee will therefore be inviting the management of these agencies to explain why their operating surpluses have not been remitted as mandated by the Fiscal Responsibility Act 2007.
According to the Finance Ministry, the overall effect of these practices is that operating surpluses of these agencies are lower than should be.
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