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Reps to query NRC MD over N12.7bn shortfall in revenue remittances.

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.Laud Shippers Council boss

 

Jonas Ezieke, Abuja

 

 

The House of Representatives Committee on Finance on Thursday invited the Managing Director and Chief Executive Officer CEO of the Nigeria Railway Corporation NRC Engr Fidet Okhiria to appear before the probe panel on Monday September 12, 2022 over noticeable N12.7 billion shortfall in unremitted revenue to the Consolidated Revenue Fund CRF of the federal government.

 

At the ongoing Medium Term Expenditure Framework and Fiscal Strategy Paper MTEF& FSP interrective session of the House Committee with Ministries, Departments and Agencies MDAs of government, it was observed that the NRC generated N14 billion as Internally Generated Revenue IGR but remitted only N1.3 bn to CRF in 2021.

 

Deputy Chairman of the House Committee Hon.Abdullahi Seidu gave  a quick invitation for the MD to appear before the probe panel on Monday September 12, 2022 following the presentation of the N14 billion IGR racked in by the agency in 2021 fiscal year by Director of Finance Mrs Agboola Makinde in the audited annual accounts

 

Irked by the rendition of the accounts in terms of budget releases and revenue generation, the House Committee boss was flabagasted that out of the N14 billion revenue generated by the NRC in 2021 only N1.3 bn was paid intto the coffers of the federation.

 

He said: You cannot sit in the comfort of your office and spend government funds that you generated as revenue. It is against the laws of the land.

 

“There should be an urgent reconciliation of account of the NRC, Fiscal Responsibility Commission a d the Office of the Accoutant-General OAGF”.

 

But the Director who earlier had excused the MD at the hearing said that the agency’s actual revenue generation in the year 2021 was N6.2 billion as the N14 billion was not only from the IGR revenue.

 

Asked if the agancy get funded by the government in terms of personnel and overhead budgets, she said they get funded for only personnel cost and overhead and so is not fully funded.

 

Nothwithstanding, the Committee leader and other committee members insisted that the remittances of N1.3 billion out of the lump sum of N14 billion is infinitesimal and breach of law.

 

When the lawmaker inquired from the official documents of the office of the Accountant-General of the Federation OAGF about the statement of accounts of the agency, an official of the office replied that the office does not have it.

 

The Committee Chairman however commended the Executive Secretary of the Nigeria Shippers Council Barr Emmanuel Jime for what it decsibed as an exceptional performance in revenue drive and remittances by his agency.

 

While appearing before the Committee, the ex-lawmaker had presented N23.1 billion  approved revenue, the Council had remitted N557 million to the CRF in the 2021 financial year of the agency.

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