Over N1.5trn unremitted operating surplus in various MDAs – FRC

The Chairman of Fiscal Revenue Commission (FRC) Victor Muruako, has said that despite the progress recorded in substantial increase in the volume of remittances of operating surplus between December 2020 , there is still over N1.5 trillion unremitted operating surplus in various Ministries, Departments and Agencies (MDAs).

He noted this on Thursday in Abuja when Paradigm Leadership Support Initiative (PLSI) organised a workshop in collaboration with the Fiscal Revenue Commission (FRC) to strengthen the capacity of Ministries, Departments and Agencies (MDAs) in remitting operating surplus to government’ coffers.

Muruako said the training in Abuja would also ensure that the amount of independent revenue that will be received into Federal Government coffers in 2021 will clearly surpass the target.

He commended PLSI for its commitment to supporting and collaborating with the Commission to deliver its mandate particularly in the area of increasing the generation of independent revenue for through ensuring improved remittance of operating surplus into its Consolidated Revenue Fund.

“The continued default to remit what is due to the government cannot continue in the face of the severe revenue challenge confronting the country.

Also, speaking at a media briefing to herald the workshop, Executive Director of PLSI, Olusegun Elemo, said, “the objective of this partnership is to strengthen the capacity of federal agencies especially the 122 Schedule Corporations (covered by FRC Act) to enable remit to the Consolidated Revenue Fund what is due to government from tye revenue they generate thereby supporting the Federal Government to achieving its revenue targetin order to effectively implement programmes and projects as captured in the budget. “