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    Sanwo-Olu condemns election day violence, orders suspects’ arrest

    The Governor of Lagos State, Babajide Sanwo-Olu, has ordered security agencies to arrest perpetrators of attacks recorded in some local government areas during Saturday’s...

    Kano govt lifts dawn to dusk curfew

    The Kano State Government has lifted the dawn-to-dusk curfew imposed in the state. The News Agency of Nigeria reports that the state government on Monday...

    Sanwo-Olu raises civil servants salary by 20%

    The Lagos State Governor, Babajide Sanwo-Olu, has announced a 20 per cent increase in the salaries of civil servants in the mainstream public service. Others...

    Ex-JAMB registrar Ojerinde sues ICPC

    A former Registrar, Joint Admissions and Matriculation Board, Prof. Dibu Ojerinde, has sued the Independent Corrupt Practices and Other Related Offences Commission for alleged...

    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.

    Latest Posts

    Sanwo-Olu condemns election day violence, orders suspects’ arrest

    The Governor of Lagos State, Babajide Sanwo-Olu, has ordered security agencies to arrest perpetrators of attacks recorded in some local government areas during Saturday’s...

    Kano govt lifts dawn to dusk curfew

    The Kano State Government has lifted the dawn-to-dusk curfew imposed in the state. The News Agency of Nigeria reports that the state government on Monday...

    Sanwo-Olu raises civil servants salary by 20%

    The Lagos State Governor, Babajide Sanwo-Olu, has announced a 20 per cent increase in the salaries of civil servants in the mainstream public service. Others...

    Ex-JAMB registrar Ojerinde sues ICPC

    A former Registrar, Joint Admissions and Matriculation Board, Prof. Dibu Ojerinde, has sued the Independent Corrupt Practices and Other Related Offences Commission for alleged...

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