Fiscal Responsibility Commission (FRC) says the Federal Road Safety Corps (FRSC) failed to remit N5.1 billion into the federation account in four years.
Gatekeepers News reports that FRC says the unremitted fund is part of the revenue generated by the FRSC between 2016 and 2019.
The Commission made the allegation in Abuja on Wednesday at the ongoing public hearing on 2022 to 2024 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) organised by the House of Representatives Committee on Finance.
Director of Policy and Standard, Fiscal Responsibility Commission, Alex Alekwo who said there is no evidence that the FRSC remitted the money, added that the non-remittance of the funds can be obtained from the audited financial report.
The FRSC Corps Marshal, Boboye Oyeyemi has, however, denied the allegation, saying the funds have been remitted.
Oyeyemi requested more time to reconcile with the FRC over the allegation.
The FRSC Boss said there had been no budgetary provision for the production of plate numbers since the inception of the scheme.
He added that some of the machines to produce plate numbers were funded from the proceed of operating surpluses.
According to him, what the corps remitted to the federation account was what it got after the production of plate numbers.
The Chairman of the Committee, James Faleke who decried poor revenue generation by some agencies, said it is the biggest problem confronting Nigeria.
He said, “We saw where an agency is spending N3 billion above its income, we saw where they spend money not budgeted for.
“Where this committee sees it necessary, we will expunge unnecessary budgetary provision in order to shore up revenue for the country to forestall unnecessary borrowing.”
In May, FRC disclosed that 32 ministries, departments, and agencies (MDAs) failed to remit over N1.2 trillion of their operating surplus to the consolidated revenue fund (CRF).
The commission while quoting the Fiscal Responsibility Act, 2007, said government agencies are expected to remit 80 percent of their operating surplus to the CRF.
