Some of the members of the Nigerian House of Representatives have on Tuesday blasted the office of the Accountant General of the Federation, AGF, over their recent lapses of failing to provide any evidence of 25 percent of the six billion naira internally revenue which had been generated by the Securities and Exchange Commission (SEC) for the 2020 fiscal year.
The lawmakers had also faulted the SEC during one of their interactive sessions with the Commission’s Director General, Lamido Yuguda, on the particular review of the 2020 to 2022 budget defense and 2023-2025 Medium-term Expenditure Framework (MTEF) and Fiscal Policy Paper (FPP) as well.
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The session had also been chaired by the Chairman House Committee on Finance, Hon. Abiodun James Faleke.
Some of the trouble had also started when Hon. Faleke had requested for AGF’s evidence of the ₦738 million representing the 25 percent of the SEC revenue in 2020.
Responding, the AGF said: “We have their record but not here, but we issue the receipts so we can confirm it because they are not part of the schedule we are supposed to have today.”
Commenting on the inquiry regarding the evidence of the 25 percent remittance of the ₦6 billion revenue generated in 2020, the SEC boss pointed out that there is an automatic deduction of the money from the source, adding that the system is too effective.
In another report, the House of Representatives Committee on Finance yesterday raised concerns while querying a contract allegedly entered into between the Federal Government and an investor, leading to the payment of $33 million monthly to the Azura power station located in Edo State.
The lawmakers were reportedly concerned that some of the important details of the agreement were quite shady hence their decision to question why the Nigerian Bulk Electricity Trading Company would sign such an agreement without the approval of the Federal Executive Council.
The lawmakers who were on oversight functions vowed to do their best to unravel the mysteries behind the agreement which they have expressed their displeasure about.