The Economic and Financial Crimes Commission, (EFCC) and the Fiscal Responsibility Commission have announced plans to work together in blocking budget leakages and recovering operating surpluses withheld by agencies of government.
This was disclosed on Thursday in a meeting between the EFCC, boss, Abdulrasheed Bawa and the Chairman of FRC, Victor Muruako at the EFCC headquarter in Abuja.
Muruako said, “Fiscal Responsibility Commission, FRC recognizes that we can hardly achieve our key aim and objective of ensuring the long term stability of the nation’s economy without the assistance of your Commission. For one, we believe that the credibility of the economic system in Nigeria is a prerequisite for achieving economic stability and this is where EFCC comes in.”
The EFCC Chairman disclosed that the EFCC recognises the importance of the FRC, adding that, “We (EFCC) are in this together, Nigeria is the only country that we have. We are serving the same government, we are serving the same master which is our fatherland and we should be able to collectively work towards achieving that mandate”.
What you should know
The FRC revealed last month that the Ministries, Departments and Agencies (MDAs) were illegally holding N1.2 trillion, citing failure to remit 80% of operating surpluses to the Consolidated Revenue Funds (CRF) of the Federal Government in line with the Fiscal Responsibility Act.