Daily Trust

Fiscal Responsibi­lity Commission generates N2trn in 14yrs

- By Abdullatee­f Salau

The Fiscal Responsibi­lity Commission has generated over N2trn since inception in 2007.

The commission’s chairman, Victor Muruako, disclosed this in Abuja yesterday during a public hearing on a bill to repeal and re-enact the Fiscal Responsibi­lity Act, organized by Senate Committee on Finance.

He said the revenue had been remitted to the Consolidat­ed Revenue Fund.

The bill seeks to curb financial fraud and wastages within Ministries, Department­s and Agencies to ensure more effective and efficient delivery of public services.

It also proposes that the commission retains a portion of the operating surpluses paid into the federation account as cost of collection.

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