Fiscal Commission seeks probe of AMCON, NNPC, NIMASA, others over non-remittance of revenue

The Nigerian National Petroleum Corporation (NNPC), the Assets MANAGEMENT Corporation of Nigeria (AMCON), the Financial Reporting Council (FRC) and the Nigerian Maritime Administration and Safety Agency (NIMASA) have been fingered as most defaulting agencies in the remittance of revenue into the Consolidated Revenue Account (CRA).

The Chairman, House of Representatives Committee on Finance,  Abdul’Mumin Jibrin, made this known Wednesday during an oversight visit to the Fiscal Responsibility Commission (FRC) in Abuja.

Jibrin made the observation while responding to complaints made by the acting Chairman of the Commission, Victor Chinemerem that certain agencies of government have formed the habit of looking down on the Commission and therefore don’t like to submit their financial records as they relate to remittances in a given fiscal year.

He said: “You are mentioning NCC and others, what about the NNPC which is the biggest culprit in this conspiracy against the country? AMCON, NIMASA have all been on our radars for so many years they claim to be operating at a loss. The rate of non-remittances from the NNPC alone is ridiculous.

“As for AMCON and NIMASA they have been claiming to run at a loss year-in year-out, but now that AMCON is MAKING PROFITS from the sale of banks and other businesses, you should follow them up and ask for their financial statement and record of their remittances.

“One other notorious agency which puts up a holier-than-thou attitude but with a very hazy fiscal behaviour is the Financial Reporting Council. They are doing the JOB that the Commission should be doing. Their activities are supposed to be under the radars of the Commission. The Committee has received hundreds of petitions concerning the malfeasance that is going on there. Go after them and make sure that they know their boundaries,” he said.

Chinemerem, had earlier informed the Committee of the immense difficulties his Commission faced as a result of certain loopholes in the Commission’s Act which some agencies take advantage of as alibi in their resolve to default in remitting revenue.

He noted that the commission needed powers to prosecute offenders and that until such is done, the situation would remain the same.

“We need the powers to prosecute and punish offenders of fiscal responsibility. Countries who have gone ahead to make progress in their economies are those who PAY adequate attention to their fiscal responsibility regimes.

“Agencies have succeeded in making government look like an orphan through their attitude towards the Commission in a manner that they doctor their account books using different methods to defraud government.

“We have had issues with the NCC (Nigeria Communications Commission) until the Committee intervened and they paid N22.9 billion for 2077 and 2010.

“The last N2 billion was paid in April. We are yet to look at their books for 2011 and 2013. Agencies are in the habit of declaring loses even before our team of experts go to check their books. Some of them have formed the habit of not respecting this Commission. NAFDAC has also refused to PAY returns, saying that the Commission would soon be closed down,” he stated.

He added that NIMASA which has never been in the habit of PAYING into the account also came through recently when it paid the sum of N1.3 billion last week.

On the need to strengthen the Commission via adequate budgetary provision and legislation, Jibrin stressed that his Committee would assist the Commission by ensuring that more MONEY is allocated to it in the 2015 budget as well as push for an amendment to the establishment Act with a view to equipping it with the powers to compel recalcitrant agencies to comply.

Source: http://dailyindependentnig.com