FRC set to release template on MDAs operating surplus to curb fraud

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• BPE stresses inter-agency
To enforce compliance of financial discipline and curb corruption in public life, the Fiscal Responsibility Commission has concluded plans to set template and timelines for all revenue generating agencies on the payment of operating surpluses to the Federation Account of the Nigerian Federation.

According to the Nigerian fiduciary guidelines, all revenue generating and self- financing agencies of Government are suppose to remit to the Federation Account 80 per cent of their operating surpluses, but the directive is hardly obeyed as most often, the agencies jerk up their operating costs to consume the surpluses in a bid to deny the country the benefit of the surpluses.

Now, all those gimmicks are soon to be checked as the body charged with the mandate of ensuring financial discipline across the country – the Fiscal Responsibility Commission acting Chairman, Victor Muruako has declared that a template to enforce compliance is in the offing.

Muruako disclosed this plan yesterday when the newly appointed Director- General of the Bureau of Public Enterprises ( BPE), Allex Okoh paid him a visit . He said the visit of the BPE DG clearly shows that he was prepared to work with relevant stakeholders, and to establish a good synergy with the FRC.

He added that whatever “we are doing, it is to fund the nation’s treasury, which requires the co-operation of all revenue generating agencies in the country”.

He announced that the template for operating surpluses in the country would soon be launched and all the government revenue generating agencies, including the BPE would be formally invited.

Muruako pledged to support the Bureau now that it was ready to synergize with the FRC.

Earlier, the Director General of BPE , Mr. Alex Okoh, says inter-agency collaboration and synergy are crucial to the success of the Federal Government programmes.

The Director-General said that the visit signals the importance the Bureau attaches to the mandate and the work of the FRC.

Okoh, says inter-agency collaboration and synergy are crucial to the success of the Federal Government’s programmes.

Okoh promised that under his watch, the Bureau would give priority attention to building blocks in order to earn a seamless relationship with Ministries, Departments and Agencies (MDAs) in the country.

In this article:
Alex OkohFRCVictor Muruako


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