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The Fiscal Responsibility Commission has said that many defaulting ministries, departments and agencies have been remitting the N1.5 trillion revenue they withheld from the government coffers.
The commission also said that the government was in the process of reviewing and updating the calculation template to check under-remittances of revenue by MDAs.
Disclosing this at a training workshop for accounting officers of MDAs, organised by the Paradigm Leadership Support Initiative to boost Federal Government revenue in Abuja on Thursday, the Chairman of the commission, Mr Victor Muruako, explained that the calculation template makes the agencies know what they ought to remit to the government.
The FRC boss said it was important that the government strengthened its revenue mobilisation strategy leveraging on improving remittance of operating surplus to the Consolidated Revenue Fund by the 122 schedule corporations covered by the Fiscal Responsibility Act 2007.
Responding to questions on the non-remittance of N1.5trn withheld by 33 agencies, he stated, “Some of the agencies have started remitting part of the withheld revenue. I don’t have the amount remitted so far because the money is remitted to the government coffers and the data is with the ministry of finance.”
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Speaking on the new remittance calculation template for MDAs, Muruako said it makes the operators, particularly, Director of Finance and Accounts, the heads of accounts, audit to know what they ought to remit.
The lawyer further explained that his commission had issues with the calculations contained in the audited financial statements submitted by government agencies.
