Business Top Stories

MDAs, Adeosun on war path over N450bn unremitted funds

FG rolls out 10-point roadmap to exit recession

The Minister of Fnance, Kemi Adeosun and about 33 government agencies and parastatals are presently on a war path over N450 billion said to have been unremitted to government coffers.

The MDAs and financial institutions are not also moved by threats to drag them before the Economic and Financial commission (EFCC).

Adeosun, had disclosed on Thursday in Abuja, that the Federal Government had commenced the recovery of N450 billion unremitted operating surpluses by 33 of its agencies.

She narrated that the figure was generated from an audit covering 2010 to 2015, adding that a Demand Notice has been issued to the affected agencies for Payment Plan.

Though palpable tension has gripped staff of the 13 agencies and institutions involved for their failure to return the funds to government coffers, most of them have described the intending action as political.

They contend that it is strange for government to have opted for an action that will lead to settling official matters in court, or before the security agencies.

A source among one of those mentioned for alleged default in remitting the said money said there was no such funds with them.

Among the agencies named are the NNPC, NCC, FAAN, NUC and NAFDAC which are expected to deposit at least 70 per cent of their generated revenue to government coffers through the Federal Government’s Treasury Single Account (TSA).

Mrs Adeosun said the affected agencies had failed to comply with the early directive on the dead line given them to deposit the money involved in government accounts.

But officials of the affected agencies said there was no failure on their parts to pay in their generated revenues to the government.

Read also: Senate angry, summons NEITI boss over unremitted N1trn

They said from their official transactions, all monies due to the government had always been paid as at when due, adding that government is even owing them.

An official of FAAN who spoke on condition of anonymity, said the minister was wrong to have included FAAN on the list of defaulting agencies.

“Some of the organizations and agencies included in the minister’s list were said to be having issues with the government on none payment of pension arrears running into several billions of Naira.

“There must be other issues being addressed by the Minister’s allegation,” the official stated.

The Finance Minister’s move is regarded by many as a last ditch effort to boost government revenue which had significantly noose-dived, leaving the administration with diminishing latitude to implement its various programmes.

The threat to drag anti-corruption agencies, EFCC in particular, into the fray is seen as an expansion of the anti-graft war intended to force MDAs into line.


RipplesNigeria… without borders, without fears

Join the conversation


About the author

Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.

/* ]]> */