30 Agencies Remit N312.65bn To Federation Account

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No fewer than 30 govern
ment agencies remitted N312.65 billion into the Consolidated Revenue Fund as operating surplus in six years, a report by Fiscal Responsibility Commission (FRC), has revealed.
The report, which was obtained in Abuja, on Thursday, showed that the remittances were made by the agencies between 2007 and 2012.
In the report, which is its latest edition of “Annual Report and Audited Accounts”, FRC said Central Bank of Nigeria, National Deposit Insurance Corporation and Nigeria Communication Commission, remitted N274. 45 billion.
The report stated that the three agencies contributed 87.78 per cent of the total remittance by the 30 organisations.
It, however, noted that corporations like NNPC, NIMASA, BPE, FIRS, NCS and NPA, which were expected to contribute huge operating surpluses, failed.
The report indicated that the highest remittance of N95.5 billion into the fund was recorded in 2012 and was followed by N73.19 billion in 2011.
Remittance by the agencies in the other years, according to the report, are N43.43 billion in 2010, N40.56 billion in 2009, N23.22 billion in 2008 and N37.15 billion in 2007.
The report showed that only nine out of the 30 agencies contributed the surpluses remitted in 2012.