House Moves to Withhold Funding from Non-compliant Agencies: Failure to Remit Revenues Prompts Call for Swift Action and Accountability

The House of Representatives Committee on Finance has issued a stern warning to government agencies that fail to provide an accurate account of their revenue and remittance to the government, threatening to freeze their accounts.
This statement came after Musa K. Jemaku, the Director of Finance and Account at the Financial Reporting Council of Nigeria (FRC), criticized the Accountant General’s office for stating that they have not paid their operating surplus for the years 2019, 2020, and 2021.

A representative from the Accountant General’s office revealed that the FRC had not remitted its operating surplus of N126 million in 2019, N143 million in 2020, and N26 million in 2021 to the government. Additionally, the operating surplus for 2021 has not been fully determined as the agency has yet to submit its audited accounts for that year.

During the committee meeting, Vice Chairman Saidu Abdullahi expressed disappointment at the non-appearance of several agencies despite being invited. Out of the eight agencies invited, only the FRC and National Health Insurance Authority showed up. Abdullahi emphasized that while two agencies requested a rescheduled date, the Lagos International Trade Fair Complex, National Broadcasting Commission, National Examination Council, and National Inland Waterways Authority neither attended nor communicated their absence.
He stated, “We anticipated the presence of eight agencies today, but only two appeared. Two sought a rescheduled date and were accommodated, while four chose to be absent. This behavior is unacceptable and undermines the importance of our work.”

“We expect the Lagos International Trade Fair Complex, National Broadcasting Commission, National Examination Council, and National Inland Waterways Authority to attend tomorrow, Tuesday. Failure to do so may result in necessary actions, including account freezing by the Office of the Accountant General.”
“We will not tolerate any agency’s disregard for this crucial assignment. Revenue collection is vital for our country, and any hindrance to this process will not be taken lightly.”
From: Nwakaji Peace Martins