The House of Representatives Public Accounts Committee has advised the Securities and Exchange Commission (SEC) and Fiscal Responsibility Commission (FRC) to amicably resolve the differences on the alleged non-remittance of over N45 billion to the Consolidated Revenue Fund.
Following defences put up by the SEC and FRC during the public hearing on leakages of government revenues on Monday, the Chairman of the Committee, Hon. Bamidele Salam, told the commissions to reconcile the differences in their figures and then revert back to the Committee after 21 days for a final resolution on the issue.
The FRC had alleged that the SEC did not respond to its report issued in 2022 which indicated N45 billion unremiited operating surplus was recorded against the Commission from 2007 to 2021.
The Director General of SEC, Lamido Yuguda, while reacting to the allegation, said the Commission had reconciled its operating surplus with the Office of the Accountant General of the Federation.
He maintained: “I think if the FRC had actually done a little more work, they would have seen from the OAGF all the efforts that we have made to reconcile the surplus figures from 2007 when FRC came into being.“
The SEC team presented in its report evidences of the remittances it had made in the past as proof to back its argument of not being culpable of the allegation and expressed its readiness to provide every document that is required of it by the Committee.
The documents submitted by the SEC to the Committee showed that it actually made all submissions and payments and this was corroborated by the representative of the Office of the Accountant-General of the Federation, who also informed the Committee of the regular reconciliation exercise between it and SEC.
