Sports
FRC Accuses FG’s Agencies Of Keeping N1.2trn Illegally
The Fiscal Responsibility Commission (FRC) says Ministries, Departments and Agencies (MDAs) of the Federal Government are keeping N1.2 trillion in their coffers illegally.
Chairman of the Commission, Mr Victor Muruako, told newsmen on Wednesday in Abuja that it arrived at the figure based on analyses of the annual audited financial reports of the agencies concerned.
He said that government-owned enterprises and corporations were supposed to remit 80 per cent of their operating surpluses to the Consolidated Revenue Funds (CRF) of the Federal Government going by the Fiscal Responsibility Act.
Muruako added that the payment of the surpluses into the CRF was for the government to generate funds to meet revenue requirements in its budget execution.
He further said that corporations did not pay income taxes or dividends and it was important that they made returns on government’s investment.
“Many MDAs still persist in defaulting and practically keeping money away from the Federal Government’s reach.
“Much more is yet out there in the hands of MDAs that either have failed to dutifully audit their accounts or that have done so but chose not to forward copies of their audited financial reports to the Commission as required by law,’’ he said.
Muruako said, however, that the Federal Government had received more than N2.15 trillion as payment of operating surpluses from corporations since the establishment of the FRC.
“This figure is not cheering, considering the importance of institutionalised fiscal responsibility measures and the quantum of effort that the Commission has expended in this regard,’’ he said.
The chairman also told newsmen that the returns made was achieved through persistent engagement by the Commission and the National Assembly with the MDAs.
He also reiterated the support of the Commission for states to institute mechanisms for fiscal responsibility management and measurement.
He said more than 20 states had so far established Fiscal Responsibility laws and agencies, while many others had adopted alternatives or were at different stages of completing the cycle.
He restated the call to states’ House of Assembly and state governments to take immediate measures to conclude the enactment of the necessary laws and the establishment of the relevant institutions.
The Bayelsa State government, yesterday, announced that the marathon will be held on Saturday, April 4, 2026.
The inaugural race is owned by the Bayelsa State Government and will be organised by Nilayo Sports Management Limited, a sports management company.
Under the theme “The Reveal,” the race represents a bold unveiling of Bayelsa’s immense human and cultural potential to the international community, inviting the world to witness the resilience, grit, and talent rooted in the heart of the Niger Delta.
According to the organisers, the race will be flagged off at 9:30 a.m., at the Opolo Roundabout, guiding participants through a carefully designed 10-kilometre route that highlights the scenic beauty and vibrant atmosphere of Yenagoa.
The course will culminate at Peace Park Square, where athletes will cross the finish line into a grand celebration of endurance, unity, and community spirit.
To elevate the experience for runners and spectators alike, the finish venue will host a high-energy post-race concert featuring performances from top A-list artistes, blending sport and entertainment in a festival-style atmosphere.
The organisers directed all registered participants to collect their race bibs and kits at the designated Peace Park Square between March 30 and April 3, 2026, from 9:00 a.m. to 4:00 p.m. daily.
The race, according to them, is currently on track for World Athletics accreditation, underscoring the commitment of both the Bayelsa State Government and Nilayo Sports Management Limited to delivering an event that meets the highest global standards.
The Director General of the National Sports Commission (NSC), Bukola Olopade, on Friday continued the Commission’s nationwide appreciation tour with a visit to Abeokuta, where outstanding junior athlete, Majekodunmi Afusat Bisola, was presented with a cheque of N3 million.
The presentation forms part of the NSC’s initiative to recognise and reward exceptional junior athletes who distinguished themselves in 2025 and contributed significantly to Nigeria’s medal haul.
Majekodunmi delivered an impressive run of performances on the track. At the last edition of the National Sports Festival, she stormed to gold in the 400m and the 4x400m relay. She replicated the double triumph at the Confederation of African Athletics (CAA) Junior Championship, in Abeokuta, before emerging as one of the standout stars at the African Youth Games in Luanda, Angola.
Speaking during the presentation, Olopade explained that the Commission deemed it necessary to extend financial appreciation to grassroots athletes after elite performers had earlier received grants running into thousands of dollars.
“A few weeks ago, after paying grants to our elite athletes, we agreed tthere was a need to also appreciate these young, budding talents who made Nigeria proud last year,” he said.
He disclosed that of the 376 medals recorded by Nigerian athletes in 2025, more than 200 were won by grassroots talents, underscoring the importance of sustained investment in youth development.