Over N2trn Remitted Through Our Work, Says FRC Boss

The Fiscal Responsibility Commission (FRC) says it has caused over N2tn to be remitted into Consolidated Revenue Account federation account since inception in 2007.

The chairman of the commission, Victor Muruako stated this when he appeared before the Senate Committee on Finance for the public hearing of the bill meant to repeal and re-enact the Fiscal Responsibility Act.

The legislation, sponsored by Adamawa senator, Aisha Dahiru, seeks to curb financial fraud and wastages within Ministries, Departments and Agencies to ensure more effective and efficient delivery of public services.

The bill would also provide a better legal framework to back the operations of the commission, which she said had been limited.

Muruako stressed the need for the commission to be strengthened in all ramifications and its responsibilities, powers and functions properly streamlined.

He also said the move to repeal the Act would ultimately improve the commission’s funding and capacity to increase the generation of independent revenue into the CRF of the Federal Government.