Nigeria news : Senate issues 7-day ultimatum to CBN, FIRS, others

Nigeria News : Senate issues 7-day ultimatum to CBN, FIRS, others
The senate on Wednesday issued 7-day ultimatum to the Central Bank of Nigeria, the Federal Inland Revenue Service, and others defaulting to submit their statements of income and expenditure accounts spanning from 2017- 2019 to do so or face dire consequences.

Other agencies are the Federal Airport Authority, Asset Management Corporation of Nigeria and the Office of the Accountant General of the Federation, Federal Capital Territory Administration, Niger Delta Development Commission, Nigerian Investment Promotion Council, Federal Airport Authority and National Agency for Science and Engineering Infrastructure.

Also defaulting are, Nigeria Football Federation, Federal Roads Maintenance Agency, National Space Research and Development Agency, Nigerian Building and Road Research Institute, Nigerian Maritime Administration and Safety Agency and Industrial Training Fund.

The senate also urged the defaulting agencies to submit their lingering responses on issues raised about the belated statement of accounts as contained in their earlier exchanged correspondences.

Those invited also include, Presidential Amnesty Program, Ministry of Niger Delta Affairs, Petroleum Equalization Fund Management Board, Nigerian Petroleum Development Company, Nigeria Railway Corporation and Small and Medium Enterprises Development Agency.

The Senate also invited the Federal Road Safety Corps, Nigerian Airspace Management Agency, Nigeria Insurance Trust Fund and National Primary Healthcare Development Agency.

This development followed the Public Account Committee (PAC) of the Senate’s press briefing in National Assembly wherein it disclosed that some Ministries, Departments and Agencies (MDAs) of the federal government, have not disclosed their accounts for years, as stipulated by law.

Senator Matthew Urhoghide, Chairman of the committee, told Journalist that the PAC had issued correspondences to the affected agencies to submit a statement of accounts, to enable the committee carry out “special oversight functions”.

The committee said it has the backing of sections 85, 88 and 89 of the 1999 constitution of the federal republic of Nigeria and Order 97(5) of the Senate Standing Orders 2015 as amended.

Despite several notices for agencies to submit their statement of accounts, the committee said many of the MDAs have refused to comply.

“In the light of this, all the defaulting agencies are by this notice, given the last opportunity to make submissions before their invitation to the scheduled public hearing”, Senator Urhoghide said.