Senate Raises The Alarm Over Unremitted N2trn Revenue

Barely 24 hours after President Muhammadu Buhari ordered a probe of the activities of the Nigerian Ports Authority following the suspension of the agency’s managing director, Hadiza Bala Usman, over alleged remittance shortfalls to the tune of N165.3bn, the Senate has raised the alarm over another unremitted N2trillion revenue by some ministries, departments and agencies of the federal government.

The lawmaker said the Senate probe panel had invited the minister, the DG of Budget office and the accountant-general of the federation to brief them on the discoveries of the committee in the course of the over four-week investigation. He told the Finance minister that from submissions already made during committee sittings and computations from the Fiscal Responsibility Commission , about 60 government-owned enterprises may have about N2trillion of government revenue still unremitted in their coffers or already spent on frivolous expenditure extant laws.

“We cannot continue to run government business as we used to do in this time when there are huge demands for government to fund needed infrastructure and other socio-economic programmes”. Responding, the minister of Finance commended the Senate committee for the ongoing probe, acknowledging that in recent times there had been noticeable increase in revenue from agencies directed to pay in their revenue to the CRF as required by the law.

how I wish they could act deep to recover it rather than mere uncovering, alarms are sometimes raised when benefiting eludes.

I hope this is not a false alarm!

Incompetency and criminality every where

If we hear this more than like this eeh, I will.....

God punish all of you.

Nigeria Latest News, Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

New computer village developer raises alarm over activities of miscreants“We have written several letters to the Commissioner of Physical Planning and Urban Development on the issue of the over 3,000 illegal immigrants occupying the cleared site for the project.' Get rid of yellow or brown teeth in 3 days with our teeth whitening kit NgZido
Source: PremiumTimesng - 🏆 3. / 78 Read more »

NFF Raises the Alarm over Rising Violence against Women, GirlsTobi Soniyi The Nigerian Feminist Forum has expressed concern at the rising level of insecurity, despair, and bloodshed across the country even as it called on governments at all levels to put meas…
Source: THISDAY LIVE - 🏆 14. / 51 Read more »

Family raises alarm as New Telegraph staff goes missing after being arrested by police in Imo - Daily Post NigeriaThe whereabouts of the Sales Representative of New Telegraph newspaper in Imo State, Mr. Chuks Ugwuibe has become a source of worry after he was He's an IPOB member he's a wolf in a sheep skin.
Source: DailyPostNGR - 🏆 11. / 59 Read more »

Uber raises fares by 13% in Lagos - Punch NewspapersThe most widely read newspaper in Nigeria 2023 approaching, we the youths are focused on the government while we neglect the masses that are prone to be bribed with chicken change during coming election.. Pure water Soft drinks Food stuff and daily commodities price hiked. We need to start from here before there. Lagos It would be surprising not to; even sachet water has raised here. Who knows our ultimate destination? Doesn’t make sense posting about Uber price review in our country Lagos Nigeria while using a foreign country cars pictures rather than ours registered in Nigeria!!
Source: MobilePunch - 🏆 8. / 63 Read more »

Serena Raises Doubts Over Tokyo Olympics ParticipationSerena Williams raised doubts over her participation at the Tokyo Olympics on Monday, ahead of her return to the limelight this week at the Italian Open.
Source: LeadershipNGA - 🏆 4. / 77 Read more »