FRC indicts NAFDAC for non-remmitance of N1.439b to Federation Account

By IAfrica
In Nigeria
Jul 17th, 2014
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The Fiscal Responsibility Commission (FRC) has indicted the National Food and Drugs Administration and Control (NAFDAC), for failing to remit N1.439 billion operational surplus to the Federal Account as required by Law.

Speaking on issues relating to NAFDACs Audited Financial Statements  in Abuja, yesterday, the Head, Policy and Standard of FRC, Mohammed Ola Tijani, said the body has reviewed NAFDAC’s accounts from 2007 to 2009 and has “discovered that you have to pay N1.439 billion to the federation accounts as demanded by law.”

Tijani said a close look at NAFDAC’s account indicated that the agency generated N491,252 million surplus in 2007, N857,132 in 2008 and N607,680 in 2009, but paid N64, 048 million to the federation account in 2007, N93 million in 2008 and N105,000 respectively.

He said NAFDAC’s account books also indicated that the 2007outstanding stood at N427,204 million, N763,565 in 2008 and N502,680 millions in 2009.

In his speech, the Acting Chairman of FRC, Barrister Victor Chinemeren Muruako, said that NAFDAC would be sanctioned if it delays the payments.

”I would have appreciated it if the D-G of NAFDAC himself was here, I will only appeal to your management to hurriedly pay this money to government’s purse, failure of which will make us to write damaging reports on your agency,” he warned.

He said: “The Federal Government needs this monies to build infrastructure and create employment for our youths. We will not relent in our efforts to assist government to recover all monies outside.”

NAFDAC was however given the grace to come up with a date the money would be paid.

The representative of NAFDAC and Director of Finance and Accounts, Ademola Mogbojumi, said his entourage will take the message back to the Director-General, Paul Ohi for prompt action on the matter.

The Fiscal Responsibility Act of 2007, Section 2, makes it mandatory that government agencies, such as NAFDAC should  remit certain percentage of their operational surplus to the Federation Account.


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