FG to Sanction Agencies Holding Back Revenue

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Adeosun

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ALL the agencies indicted by a federal government audit for failure to remit more than N450 billion into the government coffers between 2010 and 2015, are to be prosecuted. Kemi Adeosun, minister of Finance, who disclosed this said they would be reported to the Economic and Financial Crimes Commission, EFCC, for prosecution.

Adeosun said demand notices had been issued to affected agencies for the payment of outstanding operating surpluses, which was a violation of the provisions of the Fiscal Responsibility Act 2007.

She said the agencies had been invited to a meeting on Tuesday, November 29, to enable them submit a repayment plan or face appropriate sanctions, including deduction of amount owed directly from TSA balances, besides prosecution by the EFCC.

The defaulting agencies are, Nigeria Communication Commission; Nigerian Ports Authority; Nigeria Civil Aviation Authority; Bureau of Public Enterprises; Nigeria Shippers Council; National Pensions Commission, Nigeria Bulk Electricity Trading and National Health Insurance Scheme.

—  Dec 12, 2016 @ 01:00 GMT

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