The National Assembly has warned all the revenue generating federal ministries, departments and agencies engaging in diversion of revenues to desist from the act, saying such practice would not be tolerated henceforth.The Chairman, Senate Committee on Finance, Sen. Solomon Adeola, gave the warning after a meeting with the Chairman, House of Representatives Committee on Finance.
According to him, the National Assembly will ensure that the Federal Government generates enough revenue to implement people-oriented policies and programmes. “Findings indicate that the major culprit in this shortcoming is the inadequacies of MDAs, coupled with their penchant for diversion of revenue on recurrent expenditure under frivolous excuses,” he said.
He said that every expenditure must henceforth be in compliance with the Fiscal Responsibility Act and other applicable laws in Nigeria.
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