Consolidated Revenue Fund: Four Agencies Milk FG Over N28.4bn

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Teddy Oscar, Abuja

An interaction of between the House of Representatives’ Committee on Finance and revenue generating agencies on Thursday revealed that four agencies of the Federal Government failed to pay back their three-year internally generated revenue (IGR) totalling over N28 billion into the Consolidated Revenue Fund (CRF).

The years under review are 2011, 2012 and 2013, and the agencies include: the Corporate Affairs Commission (CAC), Federal Inland Revenue Services (FIRS), Raw Materials Research and Development Council (RMRDC), and Nigeria Customs Service (NCS).

In his submission before the Hon. Abdulmumin Jubril-led committee, Bello Mahmud, CAC registrar general, disclosed that CAC generated the total sum of N26.59 billion in the years under review, but could not remit a kobo into the revenue fund.

Mahmud, who said that CAC had no operating surplus during the years, explained that the commission was constrained by staff salaries and other allowances.

“Our revenue would have been more, but the Federal Government granted N2.6 billion waivers to companies,” he added.

He disclosed that CAC generated the sums of N7.2 billion in 2011, N9.657 billion in 2012 and N9.74 billion in 2013.

Mahmud, who hinted that CAC had made a projection of N13 billion IGR for 2014, added that the commission has projected to release the sum of N600 million into CRF.

In his presentation, Kabir Mashi, acting executive chairman of FIRS, submitted that the service generated the sum of N91.25 during the year under review, despite having a surplus of N3.269 billion in the same period.

Mashi said that FIRS generated the sum of N24.9 million in 2011, but had a surplus of N1.265 billion in the same year; N36.4 million in 2012, but had a surplus of N2.84 billion; and N29.95 million in 2013, but had an operating surplus of N169 million.

The representative of Alhaji Abdullahi Inde Dikko, comptroller general of customs, John Atte, DCG in charge of finance administration & technical service (FATS), submitted only the audited account of 2013.

He explained that those of 2011 and 2012 were still in process.

Atte said that NCS generated the sums of N33.04 million in 2011, N12.3 million in 2012 and N2.27 million in 2013, adding that NCS has projected the sum of N18.557 million for 2014.

In his reaction, Jubril, rejected the projected sum, saying that the amount is being too conservative, considering the status of NCS.

In its submission, RMRDC revealed that it generated the sums of N9.4 million in 2011, N17 million in 2012 and N15.7 million in 2013.

It added that the operating surpluses for 2011 and 2012 were N10.5 million and N7.114 million, while that of 2013 was still being waited for as a result of the audit, which is still ongoing.


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