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Special Committee Established By NASS To Investigate Unremitted N4 Trillion Revenue
The National Assembly Joint Committee on Finance has established a special panel to investigate a revenue shortfall exceeding N4 trillion, attributed to unchecked waivers granted by government agencies.....KINDLY READ THE FULL STORY HERE▶
This decision follows a motion raised by Senator Adamu Aliero during a hearing to assess the revenue profiles of ministries, departments, agencies, and government-owned enterprises in preparation for the 2025 budget.
The goal of the hearing was to enable the Senate and House of Representatives committees to generate accurate and realistic revenue projections for 2025.
The newly formed committee will be co-chaired by Senator Sani Musa and Hon. James Faleke.
Aliero, in presenting the motion, stated, “The issue of waivers has led to a significant gap between expected revenue and actual collections. Our records show that over N5.9 trillion should have been deposited into the consolidated revenue fund, but only N1.9 trillion has been received. This calls for the establishment of a special committee to investigate this critical issue.”
He emphasized, “We cannot allow revenue agencies to spend funds without the National Assembly’s oversight. If waivers are granted, it is crucial to determine who authorized them. A N4 trillion shortfall is a substantial amount, and our findings indicate that over N4.9 trillion has not been remitted. We need a dedicated committee to investigate the unremitted funds.”
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