The House of Representatives Committee on Finance has identified the Central Bank of Nigeria, CBN and Office of the Accountant-General of the Federation as the major problem militating against the country’s revenue generation.
The Committee’s position is premised on presentations by the Energy Commission of Nigeria and the National Oil Spill Detection and Response Agency, NOSDRA at ongoing Medium-Term Expenditure Framework and Fiscal Strategy Paper meeting with Ministries, Departments and Agencies.
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The presentations saw the agencies and the Accountant-General’s office giving conflicting figures on revenue remittance. For instance, while the Energy Commission of Nigeria, ECN submitted a remittance of about N13.6 million, the Accountant-General insisted that the sum it recieved was N27.82 million.
The House Committee also expressed displeasure with the discrepancies in revenue remittances of NOSDRA.
NOSDRA’s presentation showed that it remitted about N2.4 billion in 2021, but the AGF office record states that the agency remitted about N1.6 billion.
These submissions left members of the Committee in shock as they wondered why the Accountant-General’s office was forcing figures on the agency.
While defending its position, Deputy Director, Revenue and Investment in the Accountant-General’s Office, Ambrose Amayi blamed the Central Bank of Nigeria’s apaque processes for its submission. He explained that the apex bank does not allow it access to identify payments of various MDAs as records received often come as bulk document without specifications.
The Committee again expressed worry over government agencies return on investment after grants running into billions have been provided by the Federal Government.
Deputy Chairman of the Committee, Saidu Abdullahi who presided over proceedings alongside other members, frowned at MDAs attitude to revenue generation. They called on all Ministries, Departments and Agencies to take government business seriously stating that with the recent economic realities facing the country, no agency should claim superiority over the National Assembly while carrying out its constitutional responsibility.
(Editor: Terverr Tyav)
