The Senate has accused government-owned enterprises of frustrating efforts by the present administration to shore up its revenue profile.
Senator representing Lagos West and Chairman Senate Committee on Finance, Adeola Olamilekan, made the allegation when the Minister of Finance, Ahmed Zainab appeared before the Committee. Also in attendance at the session was the DG, Budget Office, Ben Akabueze.
Picture caption: Senator Adeola Olamilekan
The meeting, at the instance of the Senate , was called as part of its ongoing investigation into revenue remittances by Ministries, Department and Agencies (MDAs) between 2014 and 2020 and the payment of 1% Stamp Duty on all contract awards by the MDAs within the same period.
Senator Olamilekan alleged that the GOEs have failed to remit over N3 trillion operational surplus to the Consolidated Revenue Fund which he noted was a flagrant violation of the 1999 Constitution of the Federal Republic and the Fiscal Responsibility Act (FRA),2007.
The Chairman Senate Committee on Finance who further disclosed that the Office of the Accountant has confirmed the development however blamed the latter’s office for lack of diligence in the collection of the Operational Surplus hanging in those agencies.
