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NASENI yet to remit N82.5bn to federation account

By Anthony Otaru, Abuja
19 June 2016   |   1:19 am
The Acting Chairman of the Fiscal Responsibility Commission (FRC) Victor Muruako, at the weekend, berated the National Agency For Science and Engineering Infrastructure (NASENI) for failing ...
Revenue

Revenue

The Acting Chairman of the Fiscal Responsibility Commission (FRC) Victor Muruako, at the weekend, berated the National Agency For Science and Engineering Infrastructure (NASENI) for failing to remit a whooping N83.5 million to the Consolidated Revenue Fund as mandated by law, warning that FRC will have no alternative, but to sanction the agency if it fails to comply within the shortest possible time.

NASENI has allegedly failed to remit the N83.5 million it generated from 2007-2011 to the Federation Account contrary to the FRC Act.

Speaking to Journalists in Abuja, Muruako said that to ensure proper checks on NASENI’s account from time to time, the Commission went ahead to set-up a joint committee with NASENI, but regretted that the arrangement also failed to work because the management of NASENi never turned up.

‘’They are yet even submit their Medium Term Expenditure Framework from 2013-2015, 2016-2017. This kind of action is against the spirit of accountability and anti-corruption posture of the present administration’’

He informed that the interest of FRC is to ensure NASENI improves its accounting records to enable it operate in line with credible accounting standard and in accordance with international best practices.

‘’We are even encouraging all revenue generating agencies to collaborate with the private sector in enhancing their revenue base in compliance with our Act. Time has come as government is looking for alternative source of revenue to oil and the best way is to look much more inward, generate more funds and pass such money to the appropriate government purse for better transparency, accountability in government business for the over all benefit of all,” he said.