Revenue remittances: Reps give CBN, FRSC, NTA clean bill…Says three agencies are model

By IHEANACHO NWOSU, Abuja

The House of Representatives, yesterday, singled out the Central Bank of Nigeria (CBN), Federal Road Safety Commission (FRSC) and Nigerian Television Authority (NTA) for praise for being up-to-date in their revenue remittances to the Federal Government. It, however, accused the Nigerian National Petroleum Corporation (NNPC) of not running an open system, saying the corporation has questions to answer about how it manages revenues it generates.

The company was scheduled to appear before the Finance Committee but failed to show up. No reason was given for the absence. Presenting an award to the three agencies, Chairman House Committee on Finance, Rep. Jibrin Abdulmumuni noted that CBN, FRSC and NTA deserved the commendation of Nigerians for being the only agencies that have religiously remitted their revenues to the Consolidated Account in the out gone years as prescribed by the Fiscal Responsibility Act. Figures remitted to the Consolidated Revenue Fund by the three agencies are: NTA-N1.8 billion, FRSC-N4.9 billion and CBN N186.9 billion.

CBN Governor, Mallam Sanusi Lamido Sanusi, FRSC Corps Marshall, Mr Osita Chidoka and NTA Director General, Mr Musa Mayaiki, were present at the event. Abdulmumuni lamented that most agencies were violating the Fiscal Responsibility Act by refusing to remit revenues generated. According to him, this has affected the projection of the federal government.

He particularly criticized NNPC for failing repeatedly to remit monies due to the federal government's coffers, arguing that such act was not in the best interest of the economy. Explaining why his committee chose to publicly praise CBN, FRSC and NTA, the lawmaker said the House was ready to praise any organisation or institution that respects the laws of the country. He said: "We are having a handshake with these three agencies because they are law-abiding. We will not shy away from recoganising excellence."

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