ABUJA – Mr Victor Muruako, the Acting Chairman, Fiscal Responsibility Commission (FRC), has called on Federal Government to review a report calling for the scrapping of the commission.
A statement issued by Mr AbdulGaniyu Aminu, the Head of Media Relations of the commission on Saturday in Abuja, said the commission made the appeal when the House Committee on Finance members visited it.
According to the statement, the acting chairman also appeals to the National Assembly to strengthen the commission to enable it to perform better.
The statement said that since its inception, the commission had succeeded in instilling a new regime of fiscal prudence and accountability among Ministries, Departments and Agencies (MDAs).
It said that the commission had been compelling MDAs to pay the required funds from their operating surpluses to the Consolidated Revenue Fund.
“The Fiscal Responsibility Act is critical to the survival of the economy, so we appeal to the National Assembly to make necessary amendments to the Act to ensure greater performance.
“The cost of running the FRC in the last five years is N3.520 billion compared to the revenue of N259.586 billion that it had compelled the MDAs to pay to government’s coffers.
“Rather than scrap it, the commission should be strengthened and empowered to continue its assignments to ensure greater economic stability,’’ it quoted Muruako as saying.
The statement said that Alhaji Abdulmumeen Jibril, the Chairman of the committee, in response, said that the decision to scrap the commission was “a misplaced priority.’’
It said that Jibril insisted that the commission should neither be scrapped nor merged with any commission or agency.
It quoted him as saying that the National Assembly would partner with the executive to strengthen the commission for it to function better. (NAN)