Accountant General Partners Fiscal Responsibility Commission On Boosting Government Revenues.

The Accountant General of the Federation (AGF), Mr. Ahmed Idris, has pledged increased cooperation and greater partnership with the Fiscal Responsibility Commission (FRC) in boosting revenues from Government Ministries, Departments and Agencies (MDAs).

Mr. Idris made this pledge when he received the Executive Chairman of the FRC, Mr. Victor Muruako, and his management team on a courtesy call to his office on Wednesday, June 23, 2021, in Abuja.

The AGF expressed commitment to work closely with the FRC in plugging revenue losses and wastages in public finance, especially by scheduled corporations and other MDAs which are statutorily mandated to remit operating surplus to the Consolidated Revenue Fund (CRF).

Mr. Idris regretted the revenue shortfalls that have led to borrowings by government in recent years and acknowledged the key roles the FRC is statutorily placed to play in boosting remittances to the public coffers through strict enforcement of the operating surplus template that has become a gazette of the Federal Government.

According to him, the Office of the Accountant General will escalate its working relationship and partnership with the FRC to avoid a situation where sister government agencies work in silos, stressing that “we must synergize and partner together to achieve a more effective and result-oriented implementation of the Fiscal Responsibility Act (FRA).”

Mr. Idris, who received the FRC delegation in company of his senior management team, also offered support to current efforts to amend the FRA, 2007 to give the Commission teeth to bite beyond just barking, saying “we will throw our weight behind amendment of the law to strengthen the oversight role of the FRC.”

Chairman of the FRC, Mr. Muruako, had earlier told his host that the Commission thought it necessary to visit the AGF in order to “deepen our inter-agency relationship in many areas and in a manner that would not only be robust and effective, but beneficially impact the management of public funds in Nigeria based on our shared ideals, principles, values and doctrine of prudence, transparency and accountability in the management of public revenues and expenditure as well as keeping borrowing/indebtedness at sustainable levels – which are the hallmarks of fiscal responsibility.”

Mr. Muruako, who stressed that the work load of the FRC has increased with the expansion of scheduled corporations under its watch to 122 which are required to remit 80% of their Operation Surplus into the CRF, called on the OAGF to upscale its support for his Commission, especially with respect to overcoming challenges hindering the entrenchment of fiscal prudence and transparency in public finance management of Nigeria.

Both chief executives agreed at the conclusion of the interactions to set up a joint team to smoothen areas of cooperation and partnership between the FRC and the OAGF with a joint pledge to maintain exchanges and interfaces in the interest of Nigeria.Bede Anyanwu, Head, Strategic Communications,
Fiscal Responsibility Commission (FRC)noted.