Posted by News Express | 1 December 2016 | 2,436 times
A Federal Government audit has revealed that a whopping 450 billion naira has not been remitted to the federal account by several agencies, including the Central Bank of Nigeria (CBN) and the Nigeria Communications Commission (NCC).
This was made known on Thursday during a press conference by the Minister of Finance, Mrs Kemi Adeosun, in Abuja.
She explained that the affected agencies have been asked to come up with a plan to repay the amount, insisting that the federal government is resolved to get the money back into its coffers.
“Those agencies are supposed to generate an operating surplus of which 80% is supposed to be paid into the treasury. Most of the m have never remitted or generated any surplus.
“So, to solve that problem, we decided to do an audit of 33 of those government agencies. So far we have identified 450 billion as outstanding and recoverable as operating surpluses from various government agencies,” she said. (Channels TV)