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Maritha Ebolosue
Published 30 April 2021
The Chairman of the Independent Corrupt Practices and other related offences Commission, Prof. Bolaji Owasanoye, SAN, has said all the money recovered by the commission are paid into the coffers of the Federal Government.
Owasanoye, who appeared before the Senate Committee on Finance, investigating the activities of revenue-generating agencies of the government in Abuja, told the committee that the ICPC had no retention powers over funds or assets recovered from corrupt people.
He said the commission had a designated account for the recovery of proceeds of crime called, ‘ICPC Recovery Account,’ into which all recovered funds were deposited for payment into the Consolidated Revenue Fund of the Federal Government.
The Chairman of the Independent Corrupt Practices and Other Related Offences Commission, Professor Bolaji Owasanoye, said that the agency does not spend money recovered from individuals and corporate entities.
Corruption: We did not spend recovered funds ― ICPC Corruption: We did not spend recovered funds ― ICPC
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The Chairman, Independent Corrupt Practices and Other Related Offences Commission (ICPC), Professor Bolaji Owasanoye, on Thursday, said all monies recovered and generated by the commission were paid into the coffers of the Federal Government.
Professor Owasanoye, according to a statement by the ICPC spokesperson, Mrs Azuka Agugua, disclosed this when he appeared before the Senate Committee on Finance, investigating the activities of revenue-generating agencies of the government, in Abuja
He told the committee that ICPC has no retention powers over funds or assets recovered from corrupt people.
The Fiscal Responsibility Commission (FRC) says it caused Ministries, Departments and Agencies to remit over N2.15tn into the Consolidated Revenue Fund of the Nigerian Government as operating surpluses over the past 11 years.
This was stated by Victor Muruako, FRC Chairman, on Monday during a courtesy visit to the Minister of Special Duties and Inter-Governmental Affairs, George Akume, in Abuja.
Muruako sought the collaboration of the ministry to organise a National Fiscal Responsibility Forum for local government chairmen and councilors to inculcate in them, the principle of prudent management of resources and transparency.
“Over N2.15tn was paid into the Consolidated Revenue Fund of the Federal Government over the past years as operating surplus from government corporations against just about N7bn government allocation to the agency since inception.
FRC discloses payment of over N2 15trn into FG s Consolidated Revenue Fund vanguardngr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vanguardngr.com Daily Mail and Mail on Sunday newspapers.