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Wednesday, August 25, 2021

FRSC lying, didn’t remit N5.1 billion in nation’s coffers: FRC

The Fiscal Responsibility Commission told a House committee that the FRSC has not remitted N5.1 billion generated into the nation’s coffers since 2016.

• August 25, 2021
FRSC Corps Marshal, Boboye Oyeyemi
FRSC Corps Marshal, Boboye Oyeyemi [Photo credit: Channels TV]

The Fiscal Responsibility Commission (FRC) has told the House of Representatives that the Federal Road Safety Corps is yet to remit N5.1 billion into the federation account from 2016 to 2019, contrary to earlier claims.

FRC made the allegation on Wednesday in Abuja at the ongoing public hearing on 2022 to 2024 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).

The public hearing is organised by the House of Representatives Committee on Finance.

The official of the FRC said that there was no evidence that the FRSC remitted the money as claimed, adding that the non remittance was obtained from an audited financial report.

But FRSC, Corps Marshal, Boboye Oyeyemi, in a swift reaction, said that he was prepared to give evidence of the remittances, while urging the committee to give FRSC the requisite time to reconcile with the FRC.

He said that there had been no budgetary provision for the production of plate numbers since inception of the scheme.

According to him, some of the machines to produce plate numbers were funded from the proceeds of operating surpluses.

He stated that what the corps remitted to the federation account was what it got after production of plate numbers.

The committee had earlier called on FRC to substantiate the claims made by FRSC that it had remitted the said amount.

The chairman of the committee, James Faleke, had stated that the biggest problem confronting the country was revenue generation, which he described as appalling.

“We saw where an agency is spending N3 billion above its income, we saw where they spend money not budgeted for.

“Where this committee sees it necessary, we will expunge  unnecessary budgetary provision in order to shore up revenue for the country to forestall unnecessary borrowing,” he said. 

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