Saturday, April 17African Business News
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Tag: 2007

MDAs yet to remit over N1.7trn operating surplus, says Muruako

MDAs yet to remit over N1.7trn operating surplus, says Muruako

Business
The Fiscal Responsibility Commission (FRC), is worried about non-remittance of over N1.7 trillion operating surpluses into the Consolidated Revenue Fund (CRF) by some agencies in line with the Fiscal Responsibility Act (FRA) of 2007. Describing the development as unfortunate, the Commission noted that despite the increase from 31 captured corporations in 2007 to the current 123 in 2020, some of the agencies are still reluctant to remit their funds, but divert same to running costs in their various organisations. The Acting Chairman of FRC, Victor Muruako, disclosed this Monday, while declaring open the Commission’s three-day Management Retreat, in Abuja. The retreat, themed, “Promoting Prudence, Accountability and Economic Stability in a Post Covid-19 Economy,” was organised b...