EFCC, FAAC collaborate to ensure proper remittances from government agencies
Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mohammed Umar Abba, has expressed worry over dwindling remittances from revenue-generating agencies into the Federation Account, saying the Commission would beam its searchlight on such agencies.
Abba disclosed this when a delegation of the Post-mortem Sub-committee of the Federation Account Allocation Committee (FAAC) led by its vice-chairman, Chris A. Akomas, went on a working visit to EFCC’s corporate headquarters, Abuja.
The Post-mortem Sub-committee of FAAC was created in 2004 to keep an eye on contributors to the Federation Account.
The EFCC boss noted that dwindling remittances from revenue-generating agencies was a serious national issue that needed the concerted efforts of appropriate authorities to address, adding that not doing so would have dire consequences on the economy and the development of the country.
While assuring the delegation of the Commission’s commitment to the cause, Abba disclosed that the EFCC has begun work in that direction.
“We already have somebody who is attached to you as a liaison officer. This is in view of the enormity of the problem and the fact that it needs to be addressed. We will assist you, partner with you and ensure that any revenue-generating organisation that did not remit revenue or continues to neglect the remittance of the necessary accruals to government is invited and asked questions as to why the expected accruals are not coming as and when due before launching a full-scale investigation to ensure that the revenues are not lost,” Abba said.
He maintained that the Commission was ready to assist the FAAC to achieve prompt and adequate revenue remittances to the Federation Account by revenue generating agencies of the Federal Government.
In his remarks, Akomas disclosed that following declining remittances into the Federation Account, FAAC took a decision during its meeting in August, this year, to make all needful steps to make every revenue-generating agency of the Federal Government live up to its responsibilities.
He explained that FAAC was liaising with the EFCC pursuant to the decision.