MTEF/FSP: Senate Directs MDAs To Forward Remittances’ Details

The Senate has directed ministries, departments and agencies (MDAs) to forward their remittances for the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF-FSP).

The Upper House said no federal agency would henceforth be allowed to spend the revenues they generated.

The chairman of the Joint Senate Committee, Sani Musa, who is also the chairman, Senate Committee on Finance, therefore directed all revenue generating agencies to furnish his panel with details of remittances they have made this year.

He directed the Office of the Accountant-General of the Federation to collate the details of the remittances and the list of defaulters.

Musa gave the order on Monday at the ongoing public hearing by a joint committee of the Senate chaired by him.

The panel includes the Committees on Appropriations; National Planning and Economic Affairs; and Local and Foreign Debts. They are to engage the heads of MDAs on the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF-FSP).

Musa said, “The National Assembly (NASS) is working hard to protect the economy of the country.

“The Nigerian National Petroleum Company Limited (NNPCL) for instance, is a Nigerian entity, it must abide by the Nigerian rules, it must abide by the ground norms. When it is due to remit, it must do so.

“No agency of the government should come before us to say they are exempted from remitting revenues to the consolidated revenue funds,” he said.

“The accountant-general should take note of the agencies that had yet to remit their revenues to the CRF. You should liaise with the committee’s secretariat so that we could find time to reconvene like this to sort out those issues,” he said.

Musa was responding to a presentation by the Nigerian Institute of Legal and Advanced Studies and the Nigerian Maritime Academy on delayed remittances to the CRF.

He insisted that the MDAs should present a breakdown of their revenue collection and remittances from January to date to the committee.

He said MDAs were aware that any action in breach of financial regulations was a breach of the law.