The Fiscal Responsibility Commission (FRC) says it will develop strategies that will fast-track remittance of surplus revenue into federal government coffers by line agencies in 2019.
The Ag. Chairman of the Commission, Mr Victor Muruako, stated this in an interview with the News Agency of Nigeria (NAN) on Monday at the Yankari Game Reserve in Bauchi State.
He said that the Commission had operated for 10 years to enhance the need to introduce effective techniques to enable Federal Government raise funds for its capital projects across the country.
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He said that recently, the Commission introduced a template for calculating surplus revenue, adding that most agencies had already keyed in.
Muruako said that the Commission would no longer tolerate failure to remit surplus revenue or lack of prudence from any line agencies.
“The commission will review and develop strategies because the Federal Government needs funds to execute all its campaign promises.
” Some scheduled agencies are not complying by not presenting their annual financial report; we will not allow that to continue.
Muruako said the Commission would strictly adhere to public procurement procedure for accountability and transparency in its operations.
NAN reports that the FRC is currently holding a seven-day retreat on Procurement and Management at the Yankari Game Reserve, Bauchi State, starting from February 2. (NAN)
