• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Friday, July 18, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

FRC causes agencies to remit N2.6trn

FRC

The Matters Press by The Matters Press
March 21, 2022
Reading Time: 2 mins read
0
Jaiz Bank expands with new branches

Naira

The Fiscal Responsibility Commission (FRC), on Monday in Abuja said that the agency caused agencies to remit N2.6 trillion to the federation account in 12 years.

RELATED POSTS

Befitting honour for former President Buhari commendable – TMSG

17-member committee for burial of Buhari

Lagos falls flat to APC

The Chairman of FRC, Chief Victor Muruko, said this at the opening of a five-day capacity building training for Fiscal Responsibility Boards of Kaduna and Sokoto States.

Muruako said that the remittances made into the Consolidated Revenue Fund (CRF) came as operating surpluses from revenue generating agencies.

While urging the participants to be good ambassadors of FRC, Muruako tasked them to apply more fiscal responsibility to check corruption in their various states.

According to Muruako, in our previous activities, we have saved the government a huge sum of money.

“From our fiscal verification, we made a lot of observations that our revenue monitoring recovered tens of billions to the consolidated revenue fund and that is prevention of corruption.

“Those funds in those agencies would have been available for public officers to syphon but we caused them to remit them to the government coffers.

“More than N2.6 trillion was paid into the CRF of the Federal Government in the past 12 years as operating surplus from government corporations,’’ Muruakor said.

According to him, the efforts of the agency have become major resources to the National Assembly in terms of ensuring compliance to extant laws on revenue generation.

“Notably, the commission participated as the reference agency in the over four months revenue hearings in 2021 by the Senate and the House of Representatives.

“This actually raised operating surplus remittance from N213 billion to 313 billion and the total independent revenue from 532 billion in 2020 to 1.2 trillion in 2021,’’ Muruako said.

He said that the commission was working toward producing a template for the preparation of the Medium Term Expenditure Framework (MTEF) and establishment of Fiscal Responsibility Institute.

According to Muruako, this will help to guide agencies of government to strengthen prudence and accountability in the management of public finance.

Earlier, the Chairman, Fiscal Responsibility Agency, Sokoto, Alhaji Aliyu Muhammad, said that the training was critical to enable the agency develop sufficient capacity to deliver in its mandate, particularly on ensuring transparency and accountability.

On his part, the Chairman of Fiscal Responsibility Commission, Kaduna, Mr Murtala Dabo, said that the training would assist the commission to institutionalise good governance in the state.

According to him, fiscal responsibility cannot be overemphasised, the resources are scarce so we must ensure there is prudence in spending and there is real value for money.

Tags: FRC
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Befitting honour for former President Buhari commendable – TMSG
Economy/Technology

Befitting honour for former President Buhari commendable – TMSG

July 17, 2025
Buhari attends inauguration of Barrow of Gambia
Entertainment/sports

17-member committee for burial of Buhari

July 14, 2025
Lagos falls flat to APC
Economy/Technology

Lagos falls flat to APC

July 13, 2025
African intellectuals release letter to world, caution continent on selfness
Economy/Technology

Nigeria celebrates Soyinka at 91

July 13, 2025
China introduces new visa
Economy/Technology

Nigeria maintains issuance of 5-year visa to Americans

July 13, 2025
ADC, AN ASSEMBLAGE OF STRANGE BED FELLOWS, TIRED POLITICIANS– GROUP
Energy

ADC, AN ASSEMBLAGE OF STRANGE BED FELLOWS, TIRED POLITICIANS– GROUP

July 10, 2025
Next Post
Transparency group commends NEPZA of its anti-corruption reforms

NEPZA, medical firm move to end medical tourism

Nigeria suspends mining in Zamfara

Mines ministry contributes N7.8B to GDP in 2021

Recommended Stories

Seplat confirms exchange rate to determine interim dividend

Seplat still in deal with ExxonMobil

March 7, 2022
Soil fungus threatens banana growth in Africa

Soil fungus threatens banana growth in Africa

May 22, 2023
N43tn e-payments made in Nigeria

CBN to arrest defiant POS outlets, banks, others, in Bayelsa

February 15, 2023

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Befitting honour for former President Buhari commendable – TMSG
  • 17-member committee for burial of Buhari
  • Lagos falls flat to APC

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us