The House of Representatives Committee on Finance Thursday revealed that Ministries Departments and Agencies (MDAs) of federal government have been short-changing the country by engaging in massive under remittance of their revenues and extra-budgetary spending.

Chairman of the committee, James Faleke stated this in a remark at the end of the interactive session on the 2022-2024 MTEF/FSP with various revenue-generating agencies.

He said in the course of the interaction, the committee observed that the agencies leveraged their establishment Acts to spend their internally generated revenues (IGR) thereby denying the government of the needed income.

“The committee established that some of these Acts are self-serving and against national interest. The need to expeditiously amend such Acts cannot, therefore, be overemphasized.

“The committee is also worried over the agencies’ flagrant disregard for extant laws particularly the Constitution of the Federal Republic of Nigeria 1999 (as amended). Federal revenue generating agencies have refused to remit revenues due to the Federal Government of Nigeria.

“The action as it were is putting a major strain on the resources, which ordinarily should be available for the government to pursue its development objectives.

“Agencies of government embark on extra-budgetary spending contrary to the Constitution of the Federal Republic of Nigeria 1999 (as amended) and the Fiscal Responsibility Act.

“Some agencies that are yet to appear before the committee will be re-invited to appear on resumption of the House of Representatives, failing which our recommendations may include the removal of their capital and overhead from the 2022 budget,” the lawmaker said.

The chairman said the interactive session, aimed at blocking financial leakages and instilling fiscal discipline, has been revealing and rewarding.

Source:- Daily Trust

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