FRSC
/

Fiscal Responsibility Commission Denies Receiving N5.1bn From FRSC

2 mins read

THE Fiscal Responsibility Commission(FRC) has denied claim that it received  N5.1bn from the Federal Road Safety Corps(FRSC).

House of Representatives Committee on Finance, at the ongoing Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) had been told that the FRSC is yet to remit N5.1bn which covers revenue generated by the agency from 2016 to 2019, into the federation account.

The allegation was made in Abuja at the public hearing on 2022 to 2024 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).

FRC said it has no record or evidence that such payment was made into the federation account as claimed by the FRSC, adding that the non-remittance was obtained from an audited financial report.

READ ALSO  Why Lawmakers Won't Override Buhari's Veto On Electoral Bill

Meanwhile, FRSC, Corps Marshal, Boboye Oyeyemi, has reacted, saying that he had evidence of the remittance and was prepared to show it.

He urged the committee to give FRSC the needed time to reconcile with the FRC.

He stated that what the corps remitted to the federation account was what it got after production of plate numbers.

The committee had earlier called on FRC to substantiate the claims made by FRSC that it had remitted the said amount.

Chairman of the house committee on finance, James Faleke, explained that the biggest challenge confronting the country was that of revenue generation.

READ ALSO  Quit Borrowing, Generate Revenue To Fund Government Activities, Says DMO

“We saw where an agency is spending N3 billion above its income, we saw where they spend money not budgeted for. Where this committee sees it necessary, we will expunge unnecessary budgetary provision in order to shore up revenue for the country to forestall unnecessary borrowing,” he said.

Support Investigative Journalism and Mentorship

Courageous Journalism of Truth,Transparency and Development is in the DNA of Prime Business Africa; By donating as little as N1000 or $1 today, you are helping to keep credible journalism and life-changing information free for all.

+ posts
READ ALSO  How My Presidential Interest Aroused Youths' Interest - Okunnu-Lamidi