MDAs Remitted N1.5trn Operating Surplus In 11 Years — FRC   A total of N1.551tn operating surplus of some revenue generating agencies of government was remitted to the Federal Government Consolidated Revenue Fund from 2007 to 2018. This was disclosed in the 2018 Annual Report of the...

COVID-19: FRC Sets Guidelines For External Auditors   The Financial Reporting Council of Nigeria (FRC) has released guidelines for external auditors and matters to consider due to the disruptions caused by the COVID-19 pandemic. The move was initiated in order to maintain high-quality audit in Nigeria. The agency...

Debt Exceeds Revenue In 36 States, FCT - FRC   All the 36 states of the federation contravened the guidelines of the Debt Management Office by contracting debts exceeding their 12-month revenues, the Fiscal Responsibility Commission has said. According to the DMO guidelines on borrowing, no state...

NCC, FRC To Strengthen Corporate Governance Compliance In Telecoms Sector The Nigerian Communications Commission and the Financial Reporting Council of Nigeria have collaborated to strengthen the level of compliance by operators in the Nigerian telecommunications sector to the national and sectoral corporate codes of governance. The...

FRC: In One Year Govt Collected N5tn Revenue   Nigeria’s federally collected revenues for 2016 amounted to N5.04tn, the Fiscal Responsibility Commission has said. The FRC, which stated this in its analysis of the 2016 budget performance, also indicated that a total of N242.72bn was paid into...

The Federal Government withdrew the sum of N359.39bn from the Excess Crude Account in 2015 to fund the payment of petroleum products subsidy in 2015, the Fiscal Responsibility Commission has said. The FRC said this in a report on the Excess Crude Account obtained by...