The Senate on Wednesday 29th November 2016 constituted an Adhoc Committee to investigate the alleged misuse, under remittance, non remittance and other fraudulent practices in the collection, accounting, remittance and expenditure of internally generated revenue by all revenue generating agencies of government between 2012 to 2016.
Moving a motion titled ‘‘Urgent need to investigate Revenue Generating Agencies over alleged Leakages, Non Remittance and Misuse of Generated Revenue’’, Sen. Solomon Adeola (APC:Lagos) noted that Mr. Victor Muruako, Acting Chairman of the Fiscal Responsibility Commission, had on 8th November 2016 raised concerns over leakages in revenue and remittances which he described as assuming alarming proportions in the last 5 years with some Ministries, Department and Agencies producing two different statement of accounts in an attempt to manipulate their operating surpluses and losses.
Sen. Adeola also added that the Federal Government had accused revenue-generating agencies of raising about N1.5 trillion and expending over 90% on recurrent expenditure in paying bloated salaries and controversial allowances above those approved by the Revenue Mobilization Allocation and Fiscal Commission (RMAFC). Furthermore he observed that various audit queries against these agencies over the years had indicated possible mismanagement of public funds contrary to 1999 Constitution (as amended)and Fiscal Responsibility Act 2007.He also stressed the necessity of carrying out an investigation in view of Federal Government’s dwindling revenue from the traditional oil sector and the on-going recession.
Speaking on the motion, Sen. Ahmed Lawan (APC:Yobe) suggested a reduction in the over 600 agencies and parastatals of government and called on theSenate Committee on Finance to ensure that Ministries, Agencies and Departments of government give a proper account of how revenues are generated and how funds were utilized before approving their budgets.
Members of the Ad-hoc committee to be chaired by Sen. Solomon Adeola (APC:Lagos) include: Sen. John Enoh (PDP:Cross River), Sen. Yusuf Abubakar (APC;Taraba), Sen. YahayaAbdullahi (APC:Kebbi), Sen. FatimatRajiRasaki (PDP:Ekiti) and Sen. Andy Uba (PDP:Anambra).
