Ministries Departments and Agencies (MDAs) were forced to remit N1.7 trillion into the Consolidated Revenue Fund (CFR) in 11 years.
The MDAs did not willingly remit the funds, they were made to return the monies because they were proceeds of corruption.
Having remitted this much to the CRF, it has been revealed that MDAs are yet to return another N1 trillion to the coffers.
Chairman of the Fiscal Responsibility Commission (FRC), Mr. Victor Muruako made these disclosures when he paid a courtesy call on the Independent Corrupt Practices and other related offences Commission (ICPC) in Abuja.
According to Mr. Muruako “the FRC has caused over N1.75trillion to be remitted to the Consolidated Revenue Fund (CRF) in the last 11 years.”
He also disclosed that, “agencies of government are in deficit of over N1trillion, which a close working relationship with the ICPC can help retrieve and further block loopholes in public finance management.”
To check corruption in MDAs, the Fiscal Responsibility Commission (FRC) and the Independent Corrupt Practices and other related offences Commission (ICPC) have agreed to collaborate to recover stolen assets.
Both agencies will also work together to track capital projects “in order to advance the fight against corruption in Nigeria.”
They will also exchange ideas and resources “in prosecuting the fight against corruption in public finance management in the country.”
Speaking on the importance of both organizations collaborating, Mr. Victor Muruako said the collaboration between the ICPC and FRC “must now be rejigged for better results against the obvious over bearing influence of the twin evils of inefficiency and corruption.”
According to Mr. Muruako, “in order to ensure that the FRA was adhered to, the Commission had to devise alternative strategies to nudge the MDAs to discharge their functions through stakeholders’ interactions and bilateral engagements geared towards increasing awareness and understanding the requirements of the FRA, 2007.”
Muruako lamented that “corrupt officials cart away billions of naira in different guises through government funds under their care,” adding: “we cannot afford to continue to watch this situation continue.”
In his response, the Chairman of the ICPC, Prof. Bolaji Owasanoye (SAN), identified assets recovery and capital projects tracking as areas of immediate cooperation between his agency and the FRC, noting that the mandates of both organizations make it expedient that they have to work together to eliminate impunity and corruption in public office.
“We are quite happy to collaborate with the FRC in the areas of assets recovery and capital projects tracking and to leverage on our enforcement powers to achieve the mandates of our agencies,” he said.
Prof. Owasanoye also pledged the support of the ICPC in manpower development and training for staff of the FRC, stressing that capacity-building is very important towards the realization of the objectives of anti-corruption agencies of government