Senate Gives 2-Week Ultimatum To Revenue Generating Agencies To Submit Budget

The Senate has issued a two-week ultimatum to 37 revenue generating government agencies for submission of their 2017 budget to the National Assembly.

In a motion moved by Deputy Leader, Bala Na’Allah on Wednesday, the Senate further resolved that the public establishments seize spending pending compliance.

The decision according to the Senate is in line with the provisions of the Nigerian Constitution and the Fiscal Responsibility Act.

Among the affected agencies are the Nigerian National Petroleum Corporation (NNPC), Federal Inland Revenue Service (FIRS), Central Bank of Nigeria (CBN), Corporate Affairs Commission (CAC), Nigeria Ports Authority (NPA).

The upper legislative arm slammed the agencies for spending sums in billions without appropriation.

Senate President Bukola Saraki earlier on Wednesday called on the agencies to submit their budgets for better oversight.

When Federal Government Agencies submit their budgets, it will assist in the fight against corruption and allow for better oversight

— Bukola Saraki (@bukolasaraki) May 17, 2017

Government agencies listed in this attachment by @StatiSense need to comply with Fiscal Responsibility Act by submitting their budget pic.twitter.com/PUaCboac0w

— Bukola Saraki (@bukolasaraki) May 17, 2017