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    IGP orders distribution of weapons for 2023 elections

    The Inspector-General of Police, Usman Baba, has ordered the distribution of weapons for officers across the country in preparation for the 2023 general election. He...

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    Hoodlums burn Ebonyi INEC office

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    I took no bank loan, left N14bn – Oyetola

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    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

    IGP orders distribution of weapons for 2023 elections

    The Inspector-General of Police, Usman Baba, has ordered the distribution of weapons for officers across the country in preparation for the 2023 general election. He...

    Rema’s ‘Calm Down’ certified Gold in Italy

    Rema's 'Calm Down' has recorded another milestone after it earned a Gold certification after selling 25,000 copies in Italy. After performing in a show in...

    Hoodlums burn Ebonyi INEC office

    The Independent National Electoral Commission’s office in the Izzi Local Government Area of Ebonyi State was on Sunday set ablaze by suspected hoodlums. This was...

    I took no bank loan, left N14bn – Oyetola

    A former Governor of Osun State, Adegboyega Oyetola, has said his administration left behind N14bn cash in the state coffers. Oyetola also said between 2018...

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