Get Naija And Foreign Breaking News,Tutorials,Free Browsing And Call Codes,Music And Videos Download, Sport News,Entertainment And More

Tuesday, 6 October 2015

We’ve recovered N366bn from MDAs, says FRC  

The Fiscal Responsibility Commission says it has recovered over N366bn from Ministries, Departments and Agencies since its establishment eight years ago.

Chairman of the commission, Mr. Victor Muruako, said this when he received members of the Adamawa State Fiscal Responsibility Commission, who visited the agency for a two-day training on the operations of the agency in Abuja on Tuesday.

Answering questions from journalists on the achievements of the agency since its establishment, Muruako said apart from establishing the framework for fiscal responsibility in the country, it had also recovered more than N366bn accruing as operating surplus to various MDAs.

He said, “We have been able to set a lot of rules and standards upon which the MDAs under the schedule of our commission have been able to account for the profit they made. We have been able to attract well over N366bn as of June to the consolidated revenue fund. The facts and records are there.

“We have also monitored Federal Government capital projects. This is despite the serious challenges we have along that line because monitoring of projects across all parts of the country requires certain wherewithal. We have not always had it; for instance, this year, we didn’t have anything on the budget on that.

“Despite this challenge, we have been going ahead. We have used every opportunity we have had to see how we can continue to ensure that we discharge our mandate. We have been able to encourage other stakeholders like the states and local governments to embrace fiscal responsibility. We have encouraged 15 states to buy into this.”

He also called on all states of the federation and local governments to embrace fiscal responsibility as a tool for financial prudence, adding that it was better to prevent corruption through proper budgeting rather than fighting corruption after it had occurred.



from The Punch - Nigeria's Most Widely Read Newspaper http://ift.tt/1Md38gU
via IFTTT
Share:

0 comments:

Post a Comment

Popular Posts

Recent Posts

Unordered List

Blog Archive

Contact Form

Name

Email *

Message *

Followers

Advert Space

Advert Space
Banner Ad

!

!

!

Visitors Counter

!

!

!

Follow Us!

Join the Club

Real-Time statistics by EagleStats