Fiscal Responsibility Commission Recovers N1.7trn From Corrupt MDAs
The Fiscal Responsibility Commission said it had recovered unremitted N1.7trn from Ministries, Departments and Agencies of government within the last 11 years.
It said the fund were recovered from these MDAs and paid into the Consolidated Revenue Fund Account of the Federal Government.
However, it said that about N1trn is still outstanding and would need to be recovered from MDAs and remitted into the coffers of government.
The non-remittance of the fund is in violation of the Fiscal Responsibility Act of 2007.
Based on the Fiscal Responsibility Act 2007, about 122 agencies are required to pay their operating surpluses into the Consolidated Revenue Fund of the Federal Government.
The Act requires listed government agencies to remit 80 per cent of their annual operating surpluses to the CRF Account.
The operating surplus is made up of revenues accruing to government agencies above what they are approved to spend at the beginning of the budget year.
The Chairman of the Fiscal Responsibility Commission, Mr. Victor Muruako made these disclosures when he paid a courtesy call on the Independent Corrupt Practices and other related offences Commission in Abuja.
Muruako said that corrupt officials in these MDAs that cart away billions of naira in different guises through government funds under their care have been asked to return them into government treasury.
“The FRC has caused over N1.75trn to be remitted to the Consolidated Revenue Fund in the last 11 years.
“Agencies of government are in deficit of over N1trn, which a close working relationship with the ICPC can help retrieve and further block loopholes in public finance management.”
To check corruption in MDAs, the Fiscal Responsibility Commission and the ICPC have agreed to collaborate to recover stolen assets.
Both agencies will also work together to track capital projects in order to advance the fight against corruption in Nigeria.
They will also exchange ideas and resources in prosecuting the fight against corruption in public finance management in the country.
Speaking further on the collaboration, Muruako, “The collaboration between the ICPC and FRC must now be strengthened for better results against the obvious over bearing influence of the twin evils of inefficiency and corruption.
“In order to ensure that the FRA was adhered to, the Commission had to devise alternative strategies to nudge the MDAs to discharge their functions through stakeholders’ interactions and bilateral engagements geared towards increasing awareness and understanding the requirements of the FRA, 2007.”
Muruako lamented that “Corrupt officials cart away billions of naira in different guises through government funds under their care. We cannot afford to continue to watch this situation continue.”
In his response, the Chairman of the ICPC identified assets recovery and capital projects tracking as areas of immediate cooperation between his agency and the FRC.
He noted that the mandates of both organizations make it expedient that they have to work together to eliminate impunity and corruption in public office.
“We are quite happy to collaborate with the FRC in the areas of assets recovery and capital projects tracking and to leverage on our enforcement powers to achieve the mandates of our agencies,” he said.
Owasanoye also pledged the support of the ICPC in manpower development and training for staff of the FRC, stressing that capacity-building is very important towards the realization of the objectives of anti-corruption agencies of government.