NNPC - (Zero remittance in 9 years)
Everest Amaefule, Abuja
Agencies of the Federal Government have
remitted a total of N687.82bn to the Consolidated Revenue Fund in nine
years, the Fiscal Responsibility Commission has said in a report.
It stated in the report obtained by our
correspondent on Monday that the amount was remitted as operating
surplus between 2007 and 2015.
The FRC Act 2007 requires listed
government agencies to remit 80 per cent of their annual operating
surpluses to the Consolidated Revenue Fund.
The operating surplus as conceptualised
by the FRA 2007 is made up of revenues accruing to government agencies
above what it is approved to spend at the beginning of the budget year.
Among the 30 agencies listed as
qualifying to remit operating surpluses, the Central Bank of Nigeria
made the highest return of N497.63bn in a period of eight years but the
organisation did not remit any surplus in 2015.
The Nigerian National Petroleum Corporation did not remit any surplus within the nine-year period.
Other organisations that made zero
return to the Consolidated Revenue Fund are the Bureau of Public
Enterprises, the Nigerian Social Insurance Trust Fund, the National
Environmental Standards Regulatory Agency, the Nigeria Custom Service,
and the Nigerian Electricity Regulatory Commission.
The Security and Exchange Commission
made only one remittance of N1.93bn in 2009; the Nigerian Tourism
Development Corporation also made only one remittance of N51.73m in
2013.
Similarly, the Nigerian Ports Authority
made only one remittance of N6.16bn in 2013; just as the National
Business and Technical Examination Board made one remittance of N14.94m
in 2013.
Apart from the CBN, other agencies that
remitted comparatively high amount of money included the Nigerian
Insurance Deposit Corporation, N68.05bn; the National Maritime
Administration and Safety Agency, N37.16bn; the Nigerian Communications
Commission, N32.35bn; and the Federal Inland Revenue Service, N24.24bn.
The report said, “In 2015, the
commission continued its monitoring of the remittance of the operating
surplus of the scheduled corporations. A corporation’s annual report
from which the operating surplus/deficit is determined is prepared in
the year succeeding the one being reported on.
“It is instructive that the sum
received by the Federal Government as its share of operating surplus
from these corporations recorded year-on-year increases from 2007 to
2012.
“It is not in doubt that this
improvement in returns to the Federal Government was engendered by the
interventions of the Fiscal Responsibility Commission.”
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