Finance Ministry To Recover N450 Billion From MDAs

Posted by Admin | 7 years ago | 1,895 times



Minister of Finance, Kemi Adeosun, has constituted a committee led by the Accountant General of the Federation (AGF), Ahmed Idris, to recover about N450 billion un-remitted operating surpluses of various Ministries, Departments and Agencies (MDAs).

The Minister also directed the AGF to issue circular, limiting allowable expenses that can be spent as part of measures to ensure the agencies face strict monitoring, while internal leakages are sealed.

The Spokesman of the Finance Minister, Festus Akanbi, who stated this in Abuja, said the thrust of the committee’s job was to reconcile the operating surpluses of 31 revenue-generating agencies of government between 2010 and 2015.

He maintained that the committee would invite the management of these agencies to explain why their operating surpluses have not been remitted as mandated by the Fiscal Responsibility Act 2007.

Akanbi said some of the agencies had incurred huge expenses on overseas training, medicals and other huge spending on behalf of their respective supervisory ministries without appropriate approvals.


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