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Fiscal Responsibility Commission remits over N2trn in 14 years

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FRC, Victor Chinemerem Muruako

The Fiscal Responsibility Commission (FRC) has generated over N2 trillion since its inception in 2007, the chairman of the commission, Victor Muruako, has said.

According to him, the money has been remitted into the Consolidated Revenue Fund (CRF).

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He disclosed this, yesterday when he appeared before the Senate Committee on Finance for the public hearing on the bill that repeals and re-enacts the Fiscal Responsibility Act.

The bill, sponsored by Senator Aisha Dahiru (APC, Adamawa) seeks to curb financial fraud and wastage within Ministries, Departments and Agencies (MDAs) to ensure effective and efficient delivery of public services.

In his presentation, Muruako stressed the need for the commission to be strengthened in all ramifications and its responsibilities, powers and functions properly streamlined.

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“The generation of independent revenue through the remittance of the operating surplus is one aspect of the mandate of the commission that has added great value to governance.

“It is noteworthy that the commission has since inception caused over N2 trillion naira to be remitted to the CRF in spite of the lapses in the present Act,” he said.

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