Business & Economy
FRSC Yet To Remit N5.1bn To Federation Account, FRC Alleges
Responsibility Commission (FRC) has alleged that the Federal Road Safety Corps (FRSC) is yet to remit N5.1 billion into the Federation Account from 2016 to 2019.
FRC made the allegation on Wednesday in Abuja at the ongoing public hearing on 2022 to 2024 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).
The public hearing is organised by the House of Representatives Committee on Finance.
The official of the FRC said that there was no evidence that the FRSC remitted the money as claimed, adding that the non-remittance was gotten from the audited financial report.
But FRSC, Corps Marshal, Boboye Oyeyemi in a swift reaction said that he was prepared to give evidence of the remittances while urging the committee to give FRSC the requisite time to reconcile with the FRC.
He said that there had been no budgetary provision for the production of plate numbers since the inception of the scheme.
According to him, some of the machine to produce plate numbers were funded from the proceed of operating surpluses.
He stated that what the corps remitted to the federation account was what it got after the production of plate numbers.
The News Agency of Nigeria (NAN) reports that the committee had earlier called on FRC to substantiate the claimed made by FRSC that it had remitted the said amount.
The chairman of the committee, Rep James Faleke had stated that the biggest problem confronting the country was revenue generation, which he described as appalling.
“We saw where the agency is spending N3 billion above its income, we saw where they spend money not budgeted for.
” Where this committee see it necessary, we will expunge unnecessary budgetary provision in order to shore up revenue for the country to forestall unnecessary borrowing,” he said.
