Fiscal responsibility: FRC issues warning to NNPC, Customs, others

January 30, 2020
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The Fiscal Responsibility Commission (FRC) has warned revenue generating agencies to comply with the Fiscal Responsibility Act for transparency, fiscal prudence and accountability in the management of public funds.

Acting Chairman of the Commission, Victor Muruako, gave the warning at a two-day training on “Fiscal Responsibility Act (FRA) 2007 for the management and staff of the Nigerian Immigration Service on Wednesday in Keffi.

He said that the aim of the capacity building workshop was to enlighten and educate the relevant agencies of the provisions of the Fiscal Responsibility Act.

“It is also to strengthen their compliance level, particularly so that they can conform to the template for calculation of operating surplus, which is the standard document produced by the commission.

“The template provides for allowable and disallowable expenditures from these agencies, it also clear the issues on remittances to the Consolidated Revenue Funds of the Federal Government.

“We want to ensure that the relevant revenue earning agencies of the Federal Government including Nigerian Immigration Service make their own contributions to the Consolidated Revenue Funds of Federal Government,” he said.

According to him, the commission is also working hard to ensure that these agencies submit their audited account on time in line with the provisions of FRA.

“This is part of our efforts to support the efforts of President Muhammadu Buhari to ensure that the revenue profile of the Federal Government is strengthened,” he said.

Some revenue generating agencies are the Nigeria Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA), Nigerian National Petroleum Corporation (NNPC), Nigeria Customs Service (NCS), Nigerian Communications Commission (NCC) and the Federal Inland Revenue Service (FIRS).

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