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    Twitter has agreed to all FG’s demands – Keyamo

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    Louis Vuitton to honour late Virgil Abloh in Miami Tuesday

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    Evans’ co-defendant in kidnap trial dies of cardiac arrest in custody

    Chiemeka Arinze, one of the codefendants in the alleged kidnap trial of Chukwudimeme Onwuamadike, alias Evans, has died in the custody of...

    Wizkid and Tems wins Best Collaboration at Soul Trains Awards

    On November 28, 2021, Grammy-winning Nigerian superstar, Wizkid and his collaborator Tems, won Best Collaboration at the 2021 Soul Train Awards with...

    Govt-owned agencies didn’t remit N2tn, alleges Senate panel

    The Chairman of the Committee, Senator Solomon Adeola, stated this during his panel’s interaction with the Finance Minister, Zainab Ahmed; the Accountant General of the Federation, Ahmed Idris, and the Director-General of the Budget Office, Ben Akabueze, on Friday.

    A video clip of the meeting released by the panel on Sunday and transcribed by THE PUNCH indicated that the interaction session was in furtherance to the panel’s ongoing probe of federal agencies and ministries’ revenue remittances to the federation account.

    Adeola lamented that over N2tn of revenue generated by the GOEs in the last seven years might be trapped with them or even spent on frivolous issues.

    He said such action was contrary to the 1999 Constitution of the Federal Republic and the Fiscal Responsibility Act of 2007.

    The panel is currently conducting an investigation into the revenues being remitted by the MDAs between 2014 and 2020 and the payment of one per cent stamp duty on all contracts awarded by the MDAs within the same period.

    Adeola noted with concern that the Office of the Accountant General of the Federation was not firm enough in the collection of the Operational Surplus hanging in many agencies.

    The operating surplus of an enterprise measures the difference between revenue and expenditure; that is, the surplus or deficit that is accruing from production.

    Copyright PUNCH.

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