FG to recover N450 billion from CBN, PTDA, SEC, others

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The Federal Ministry of Finance on Tuesday announced the constitution of a committee to recover about N450 billion unremitted operating surpluses from some agencies of the government. The committee headed by the Accountant-General of the Federation, Alhaji Ahmed Idris, is to reconcile the operating surpluses of 31 revenue-generating agencies of government for the period 2010-2015. The findings of the committee have so far shown under-remittance of over N450 billion, which accrued within the period.

The Finance ministry explained in a statement that the Office of the Accountant-General of the Federation had critically reviewed the accounting statements of the affected agencies. The agencies include the Central Bank of Nigeria, Petroleum Technology Development Fund, National Agency for Food and Drug Administration and Control, Nigerian Television Authority, and the Securities and Exchange Commission, among others.

The statement read in part, the Federal Ministry of Finance has announced the constitution of a committee to recover unremitted operating surpluses of agencies of government running into N450 billion. The committee, led by the Accountant-General of the Federation, Alhaji Ahmed Idris, is to reconcile the operating surpluses of 31 revenue-generating agencies of government for the period 2010-2015.

The findings of the committee so far have shown under-remittance of over N450 billon, which has accrued within the period. The statement further stated that some of the agencies had incurred huge expenses on overseas training and medicals, and on behalf of the supervising ministries and other organs of government involved in oversight or regulatory functions without appropriate approval.

It listed other infractions to include payment of salaries and allowances to staff and board members, governing council members, and commissions outside or above the amount approved by the Revenue Mobilisation and Fiscal Allocation Commission and the National Salaries, Income and Wages Commission.

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