Alleged Unremitted Funds: Reps Tells SEC and FRC to Reconcile

The House of Representative Public Accounts Committee has given an opportunity to the Securities and Exchange Commission and Fiscal Responsibility Commission to amicably settle the differences on the alleged non-remittance of over N45 billion to the Consolidated Revenue Fund.

Chairman of the Committee, Bamidele Salam gave the directive on Monday in Abuja during the Committee’s public hearing on leakages of government revenue.

The FRC had alleged the SEC did not respond to its report issued in 2022 where N45b unremiited operating surplus was recorded against the Commission from 2007 to 2021.

The Director General of SEC, Lamido Yuguda, while reacting to the allegation said the Commission had reconciled its operating surplus with the Office of the Accountant General of the Federation (OAGF).
“I think if the FRC had actually done a little more work, they would have seen from the OAGF all the efforts that we have made to reconcile the surplus figures from 2007 when FRSC came into being". the Director General told the Committee.

The SEC Team had evidences of the remittances it had made in the past as proof to back its argument of not being culpable of the allegation and it is ready to provide every document that was required of it by the Committee. The SEC report revealed.

According to the report, a review of the documents submitted by the SEC to the Committee reveals that they have actually made all submissions and payments and this was corroborated by the representative of the Office of the Account General of the Federation who also informed the Committee of the regular reconciliation exercise between it and SEC.

“Fact reveals that the Lamido led Management has transformed the account of the Commission from deficit balance recorded over the years to operating a surplus as a result of the transformations and policies introduced into the capital market”, the report stated.

After much defence from both parties, the Committee unanimously told the SEC and FRC to go and reconcile the differences then revert back to the Committee after 21 days for a final resolution on the issue.

Comments

Eze Uchendu Applauds Compt. Olomu's Outstanding Performance In Apapa

...Berates APMT For Lack of Capacity & Technicality ...Calls FG to Set Up Committee To Access APMT Operations In Nigeria The remarkable performance of the Customs Area Controller of the Apapa Customs command, Comptroller Babatunde Olomu fsi has been commended by a renowned freight forwarder, the Chairman of National Association of Government Approved Freight Forwarder( NAGAFF), Apapa Chapter, Fowdr. Prince Eze Uchendu. Accessing the Apapa Command under the control of Compt. Olomu, the chairman applauded the resilience and doggedness of the area controller in all areas of operation, in his words, "I think for now we have a good controller, the person of controller, Babatunde Olomu, since his inception as the CAC Apapa, I can say Apapa Command has never had it so good, so I can score the Nigeria customs high In all fields of endeavour, the controller has been a moving controller, he's not a controller that stays in office. He comes to the terminals ...

KNIGHTS OF ST. JOHN (KSJI) TAKES A SWIPE AT BAD LEADERSHIPS IN NIGERIA

Maj. Gen. (Prof) Remy Uche, KSJI Supreme Subordinate President, Nigeria. As Christians all over the world marked the feast of the Passion of St. John the Baptist on August 29 commemoration of his beheading by King Herod for speaking up to the truth, the Knights of St. John International (KSJI) of the Roman Catholic Church has taken a swipe against which it described as obnoxious and draconian leaderships in many spheres of life in Nigeria. The Knights of St. John International (KSJI), a sodality organisation of men and women looked up to in the Roman Catholic Church as people of integrity, is not happy with the current situation in the country where leaders in some places are not serving expectedly. According to a press statement made by the KSJI leader in Nigeria (Supreme Subordinate President), Maj Gen. Remy Uche (Prof), and signed on his behalf, by his Chief of Staff, Sir Abuchi Anueyiagu, to mark the feast of the Passion of St. John the Baptist, the patron saint...

Amaechi Calls on Nigerians To Boycot Elections Over Economic Hardship

A Former Minister of Transportation, Rt Honourable Rotimi Amaechi, who can be said to have been so quite since he lost the APC Presidential primaries in 2023 has expressed his sadness and displeasure with Nigerians for accepting the current economic hardship in the country. The former minister had, in a recent interview shared on X handle said he expected Nigerians to be angry over the situation of the country as orchestrated by the president Tinubu administration. The one time Rivers state governor said he had expected Nigerians to boycott elections in protest against politicians while lamenting over the present cost pf diesel and other essentials in the country. In his words, “I’m angry with the citizens. I’ve said it several times. “You can’t see a group of people stealing your money impoverishing you, you can’t buy fuel, you can’t buy anything; “Look at what happened in Edo. Should any politician be campaigning in Edo? People should be angry. “There should be protest against p...

Maritimegistplus

Search This Blog