A Senate Ad Hoc Committee has revealed that 25 agencies have shortchanged the Federal Government to the tune of N1.695 trillion by deliberately refusing to remit revenue accrued to the Consolidated Revenue Fund.
The committee also disclosed that Nigerian National Petroleum Corporation (NNPC) was running on a deficit of about N3.115 trillion between 2012 and 2016.
The committee said more than 600 agencies were involved but listed 92 of them.
The committee, led by Sen. Olamilekan Adeola, was mandated by the Senate to investigate all agencies and institutions of government charged with the responsibility of generating, collecting, accounting and remittance of internally generated revenue.
According to the committee, the total Revenue generated by the agencies between 2012 and 2016 was N21.5 trillion.
The Ad-Hoc Committee also uncovered that the Ministry of Finance…
Read More…..PM News
