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…says comm identified 46 offences but Act has no provision for punitive measures
By Emman Ovuakporie
Executive Chairman of the Fiscal Responsibility Commission, FRC, Victor Muruako on Wednesday said Ministries Departments Agencies, MDAs, have failed to remit N1.2trillion for the past four years to the Federal Government.
TheNewsGuru.com, TNG reports many MDAs still persist in defaulting and practically keeping money away from the Federal Government’s reach for funding its budgets.
Speaking at an ongoing press briefing in the National Assembly, the FRC boss stated that:
“Our records indicate that over N1.2trn is still in the hands of defaulting MDAs.
“These figures are confirmed from our analysis from annual audited financial reports submitted to our commission by the concerned agencies.
“Much more is yet out there in the hands of the MDAs that either have failed to dutifully audit their accounts or that have done so but choose not to forward copies of their financial reports to the commission as required by law.
He also lamented that”in the Act establishing the commission, 46 offences were identified but no punitive measures attached.