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FRC to fast-track remittance of surplus revenue to FG coffers: official

By Elizabeth ADENUGA

The Fiscal Responsibility Commission (FRC) says it will develop strategies that will fast-track  remittance of surplus revenue into federal government coffers by line  agencies  in 2019.

TBI Africa said the Ag. Chairman of the commission, Mr Victor Muruako, stated this in an interview with the News Agency of Nigeria(NAN)  on Monday at the Yankari Game Reserve  in Bauchi.

He said that the commission had operated for 10 years,enhance the need to introduce effective techniques to enable Federal Government raise funds for its capital projects across the country.

He said that recently,the commission introduced a template for calculating surplus revenue,adding that most agencies had already keyed in.

Muruako said that the commission would no longer tolerate failure to remit surplus revenue or lack of prudence from any line agencies.

“The commission will review and develop strategies because the Federal Government needs funds to executes all it’s campaign promises.

” Some scheduled agencies are not complying by not  presenting their annual financial report; we will not allow that to continue.

Muruako said the commission  would strictly adhere to  public procurement  procedure for accountability and transparacy in its operations.9

NAN reports that the FRC is currently holding a seven-day retreat on Procurement and Management at the Yankari Game Reserve, Bauchi, starting from Feb.2

 

 

 

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