The federal government has announced the
recovery of N1.44 billion from the N450 billion operating surpluses that
some revenue generating agencies reportedly failed to remit into the
Consolidated Revenue Fund (CRF) between 2010 and 2015.
The Minister of Finance, Mrs. Kemi
Adeosun, penultimate week disclosed that 17 defaulting agencies,
including the Central Bank of Nigeria (CBN), had been summoned for a
meeting with a committee set up to recover the revenue and headed by the
Accountant General of the Federation, Ahmed Idris.
The meeting, according to her, was to
avail the agencies the opportunity to present proposals on how and when
to repay the funds.
A statement issued by the Finance
Ministry yesterday, said an additional N793 million had been recovered
from three federal government agencies by the Idris-led recovery
committee.
The Nigeria Shippers Council had earlier refunded N650 million.
Further recoveries totalling N793 million
were said to have been made from the Raw Materials Research and
Development Council (RMRDC), N278 million; Nigeria Shippers Council,
N407 million; and Nigeria Export Promotion Council, N108 million.
According to the statement, “So far, the
cumulative total amount recovered is N1.44 billion, given the earlier
recovery of N650 million from the Nigeria Shippers Council, even as
several other agencies are in the process of submitting repayment plans
for approval.”
Four agencies which were unable to make
it to the meeting due to the short notice have been rescheduled to
appear before the recovery committee, the statement said.
They include the CBN, National Pensions
Commission (PenCom), Nigeria Television Authority (NTA) and the National
Information Technology Development Agency (NITDA).
Revenue generating agencies are required
to pay their operating surpluses to the Consolidated Revenue Fund of the
federal government not later than one month following the statutory
deadline for the publication of their accounts, as provided under
Section 22(2) of the Fiscal Responsibility Commission Act.
Also, the federal government said it has
enhanced and restructured the Youth Enterprise with Innovation in
Nigeria (YouWin) programme into a multimedia-based programme and
re-launched it as YouWinConnect!
According to the Ministry of Finance, the
new programme, which is an offshoot of YouWin initiated by the previous
administration, is coming with a sharper focus on supporting young
entrepreneurs with fresh business management ideas for sustainability.
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