N2.15trn Paid Into FG’s Consolidated Revenue Fund, FRC Confirms

The Fiscal Responsibility Commission (FRC), yesterday, disclosed payment of over N2.15trillion into the Federal Government’s Consolidated Revenue Fund in the past years.
This was made known by the Chairman, FRC, Victor Muruako, while on a courtesy visit to the Minister of Special Duties and Inter-Governmental Affairs, Dr George Akume, on how to ensure local governments are financially autonomous to add value to the lives of Nigeria’s larger population living at the rural areas.
While highlighting achievements of the commission, Muruako pointed out that in line with the mandate of ensuring prudence, accountability, and transparent fiscal management in the country as contained in Section 2: 1 (A) and Section 30 of the Fiscal Responsibility Act, 2007, the FRC embarked on physical verification and inspection of Government projects both those completed and on-going projects.
He added that the projects are derived from the quarterly Budget Implementation Report submitted to the commission by the Budget Office of the Federation, and that these projects cover all the Ministries, Departments, and Agencies of the Federal Government, and the exercise has been going on for over seven years.