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 […]
The Office of the Accountant General of the Federation (OAGF) has hinted of its current efforts on the drafting of a Bill that will give legal backing to the Public Finance Management (PFM) Reform initiatives and the operations of the Treasury of the Federation. The Accountant General of the Federation (AGF), Dr. Oluwatoyin Madein, who […]
Apparently worried about the current backlash from universities’ administrators and analysts on the announced fiscal measure to deduct 40% from internally generated revenue (IGR) of the tertiary institutions, President Bola Tinubu on Friday shelved the implementation of the directive. Specifically, the President attributed the decision to halt the implementation to its inappropriate timing given the […]
The Accountant General of the Federation, Ahmed Idris, has said that the recently launched Open Transparency Portal (OTP) by the Federal Government now makes it easy for members of the public to access information on financial transactions by Ministries, Departments and Agencies (MDAs). Idris made this disclosure while addressing members of the Governing Council of […]
The Federation Accounts Allocation Committee (FAAC) yesterday at the end of its virtual meeting disclosed that the three tiers of government shared a total sum of N682.060 billion from the federation account as their allocations for the month of August 2020. Out of the sum, inclusive cost of collection to NCS, DPR and FIRS, the […]
The Federal Government has approved a new Treasury Single Account (TSA) tariff model which transfers the payment of the one percent service charge into the TSA to payers. The fiscal measure was one of the major highlights of the newly approved TSA tariff model unveiled at a one-day stakeholders’ sensitisation exercise on TSA e-Collection charges […]