2024-2026 MTEF/FSP: Senate cautions MDAs on delays, non, remmitance into consolidated revenue account

By Iyojo Ameh

Senate has warned Ministries, Departments and Agencies(MDAs) on non and delayed remmitance of internally generated revenue into the Consolidated Revenue Account (CRA).

Chairman, Senate Committee on Finance, Senator Sani Musa gave the warning in Abuja during the second day of the interactive session on Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) with revenue generating agencies.

Senator Musa who was responding to presentation of the Nigerian Institute of Legal and Advanced Studies and the Nigerian Maritime Academy on delayed remmitances to the CRA said MDAs must take issues of remittance seriously.

He insisted that MDAs should present a breakdown of their revenue collection and remmitances from January to date to the committee.

He said MDAs were aware that any action in breach of financial regulations was a breach of the law.

According to him, agencies must work toward remitting the revenue due to government upon collection without delay, while requesting that all receipts of remmitances be made available to the committee.

Sani who raised issues of disparity of revenue projections and remmitances based on presentations of Nigerian Communication Commission (NCC) and presentation by Office of Accountant General for the Federation also urged the Accountant General of the Federation to interface with MDAs for reconciliation of remmitances made and revenue projections in the MTEF and FSP.

Responding, Mrs Oluwatoyin Madein, Accountant-General of the Federation said her office do engage the MDAs to reconcile their accounts and remitances made to government in line with extant laws

Also Director -General of the Debt Management Office, Mrs Patience Oniha (DMO),while responding to question on new government loan request said Nigeria needs to challenge itself on revenue generation given its projection on debt services by 2026.