HEADS MAY ROLL OVER SENATE’S ULTIMATUM ON CBN, FIRS’ N2 TRILLION STATEMENT OF ACCOUNTS

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What happens next after the Senate’s  order  that both the Central Bank of Nigeria (CBN) and the Federal Inland Revenue Service (FIRS) must tender detailed statements of more than N2 trillion expenditures by Tuesday next week?
Last Wednesday, the Senate issued a strong  warning to agencies of government that have failed to present their statements of income and expenditure over the past three years .
Speaking during a press briefing at the National Assembly,  the Public Account Committee (PAC) of the Senate, disclosed that some Ministries, Departments and Agencies (MDAs) of the federal government, have not disclosed their accounts as stipulated by law, for years.
Senator Matthew Urhoghide, Chairman of the committee, told News men, that the PAC had issued a strong warning to the affected agencies to submit their statement of accounts, to enable the committee carry out “special oversight functions”.
The committee said it has the backing of sections 85, 88 and 89 of the 1999 constitution of federal republic of Nigeria and Order 97(5) of the Senate Standing Orders 2015 as amended.
Despite several notices for agencies to submit their statement of accounts, many MDAs had refused to comply.
“In the light of this, all the defaulting agencies are by this notice, given the last opportunity to make submissions before their invitation to the scheduled public hearing”, Senator Urhoghide said.
The committee therefore, gave 7-day ultimatum to the defaulting agencies, to make submissions “on their responses to the issues raised by the committee in its various correspondences regarding their income and expenditure operations from 2017 to date”.
The committee listed the Central Bank of Nigeria, Federal Inland Revenue Service, Federal Airport Authority, Asset Management Corporation of Nigeria and Office of the Accountant General of the Federation.
Others are, Federal Capital Territory Administration, Niger Delta Development Commission, Nigerian Investment Promotion Council, Federal Airport Authority and National Agency for Science and Engineering Infrastructure.
Also defaulting are, Nigeria Football Federation, Federal Roads Maintenance Agency, National Space Research and Development Agency, Nigerian Building and Road Research Institute, Nigerian Maritime Administration and Safety Agency and Industrial Training Fund.
Those invited also include, Presidential Amnesty Program, Ministry of Niger Delta Affairs, Petroleum Equalization Fund Management Board, Nigerian Petroleum Development Company, Nigeria Railway Corporation and Small and Medium Enterprises Development Agency.
The Senate also invited Federal Road Safety Corps, Nigerian Airspace Management Agency, Nigeria Insurance Trust Fund and National Primary Healthcare Development Agency.
– Kenny Folarin
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