FRC causes remittance of  N1.8 trillion since inception

By Chimezie Godfrey

The Fiscal Responsibility Commission (FRC) says  since commencing operation in 2009  it has caused the remittance of more than N1.8 trillion into the CRF with Government investment of N5.8 billion covering Personnel, Overhead and capital projects.

The Acting Chairman of the FRC, Barr. Victor Muruako disclosed this at the capacity building on fiscal responsibility act, 2007 for Nigerian Railway Corporation held at the Lagos Airport Hotel Ikeja, on Sunday.

The Fiscal Responsibility Act, 2007 was signed into Law by former President Umar Musa Yar’Adua about 13 years ago while the Commission was inaugurated a years later in 2008.

He said: “It is eleven years running and the impact of the law is still permeating into the Nigerian system. That is simply to tell how bad our fiscal challenges has trailed.

“The Commission has  faced some level of resistance by some government agencies who take advantage of the toothless nature of the Act to resist implementation.

“But today following the inter- agency relationship with ICPC, the EFCC and indeed the Federal Ministry of Justice, a lot will begin to change.

“Unfortunately, the Commission has not got enough support to push up this template and engage these agencies on what constitutes Operating Surplus.

“Today, It is obviously not the best of times for Nigerian Economy particularly as we struggle to recover from the debilitating challenges of covid-19 pandemic.”

Muruako disclosed that the commission is working towards recommending more agencies for addition to the Schedule.

He added that the Commission whilst also looking critically at some of them that may be removed from the list for certain considerations relating to their operations and the welfare of the Nigerian people.

“The Commission has been encouraging citizen-enforcement of the FRA, 2007.

“By urging citizens to take advantage of Section 51 of the law which reads “ A person shall have legal capacity to enforce the provision of this Act by obtaining prerogative orders or other remedies at the Federal High Court, without having to show any special or particular interest,” he said.

He disclosed that the on-going amendment of the Act at National Assembly, which is at its Committee stage is already addressing short comings in a new zeal by the government to strengthen the FRC for better result given its success story so far.