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Top News In வளர்ச்சி ஆஃப் இயற்கை வளங்கள் Today - Breaking & Trending Today

Emmanuel Onwubiko: Search for equity in revenue allocation and mobilization

Emmanuel Onwubiko: Search for equity in revenue allocation and mobilization
dailypost.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailypost.ng Daily Mail and Mail on Sunday newspapers.

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Senate Uncovers How Jonathan, Sambo, INEC, FAAN, Others Diverted N665.8bn

Deji Elumoye in Abuja
The Senate has uncovered how former President Goodluck Jonathan, his deputy, Namadi Sambo, Independent National Electoral Commission (INEC), Nigerian Army, Federal Airports Authority of Nigeria (FAAN) and some Ministries, Departments and Agencies (MDAs) benefitted from alleged diversion of N665.8 billion Solid Minerals Development and Stabilisation Funds through the Accountant General of the Federation (AGF).
The upper legislative chamber has, therefore, ordered the AGF to ensure that the misappropriated funds in form of loans and Special allocations were recovered and paid back to the Special Funds Accounts within 60 days.
The Senate gave the marching order to the AGF after consideration and approval of the 2015 Auditor-General’s report presented at plenary by the Chairman of the Senate Committee on Public Accounts, Senator Mathew Urhoghide. ....

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Senate asks NPA to refund $37.6m, N67.51bn 'unremitted' revenues

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The upper chamber noted that the non-remittance of N67.51 billion for 2013 and 2014 into the consolidated revenue fund (CRF), being 25 percent of its internally generated revenue (IGR) contravened the Fiscal Responsibility Act 2007.
It added that the failure to remit capitalised interest to the CRF, “totalling” N99.71 million, between 2013 and 2014 contravened Rule 236 of the Financial Regulations.
In May 2021, the senate committee on finance had
invited heads of 60 government-owned firms, including the ports authority, to explain the failure to remit various funds running into about N3 trillion to the federal government’s account.
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In a statement signed by Ezrel Tabiowo, special assistant (press) to the senate president, on Wednesday, the upper chamber mandated the Economic and Financial Crimes Commission (EFCC) to investigate the accounting officer under Rule 3112 (I and II) of the Financial Regulations. ....

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Senate faults NNPC over under-remittance of N3.8trn from crude oil sales

By Kingsley Okoye/08067555610
Abuja, July 14, 2021 The Senate on Wednesday at plenary faulted the Nigerian National Petroleum Corporation (NNPC) over alleged under-remittance of N3.8 trillion revenue from domestic crude oil sales to the Federation Account between January and December 2015.
It therefore urged the corporation to desist from further deduction at source, as the practice contravened Section 162(1) of the 1999 Constitution (as amended).
It also mandated the Federation Accounts Allocation Committee (FAAC) or any other approving authority to urgently approve agreed percentage which should be allocated to NNPC monthly, as operational cost to prevent its operations from been affected adversely.
Senate’s decision was sequel to the adoption of 59 recommendations contained in the report of its Committee on Public Accounts on the Annual report of the Auditor-General for the Federation on the Accounts of the Federation for the year ended Dec. 31, 2015. ....

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Audit report: Senate asks NNPC, NPA, BPE, 56 others to refund N300bn

Audit report: Senate asks NNPC, NPA, BPE, 56 others to refund N300bn
tribuneonlineng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribuneonlineng.com Daily Mail and Mail on Sunday newspapers.

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