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Business & Finance

FG will punish agencies holding back revenue – Adeosun

Kemi-Adeosun
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The agencies indicted by a federal government audit for failure to remit over N450 billion into the government coffers between 2010 and 2015, are to be prosecuted, Finance minister Mrs Kemi Adeosun, has said.

They are to be reported to the Economic and Financial Crimes Commission (EFCC) for prosecution.

Mrs Adeosun said demand notices had been issued to affected agencies for the payment of outstanding operating surpluses, which was a violation of the provisions of the Fiscal Responsibility Act 2007.

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She said the agencies had been invited to a meeting on Tuesday , to enable them submit a repayment plan or face appropriate sanctions, including deduction of amount owed directly from TSA balances, besides prosecution by the EFCC.

The defaulting agencies are: ?Nigeria Communication Commission, Nigerian Ports Authority, Nigeria Civil Aviation Authority, Bureau of Public Enterprises, Nigeria Shippers Council, National Pensions Commission, Nigeria Bulk Electricity Trading? and National Health Insurance Scheme.


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