Senate Panel Alleges NPA Spends N140bn Of N170bn Annual Revenue

The Senate President, Bukola Saraki has demanded the report  of the upper camber’s  Ad Hoc Committee on Alleged Misuse, Under-remittance and Other Fraudulent Activities, which was mandated to investigate Federal Government ministries, departments and agencies (MDAs).Saraki made the demand after the Senate passed the recommendation by the Goje-led joint committee on the mismanagement of operational surpluses by MDAs.The Senate President said, “We had a committee under (led by) Senator Adeola Olmilekan on this revenue (matter), I don’t know what happened to the report. The committee we set up for Internally Generated Revenue (probe), I have not gotten its report yet.” Chairman of the Committee, Senator Olamilekan Adeola, however, said the report was not ready, even as he assured that an interim report would be presented to the Senate soon.Perhaps giving an insight into what te report contains, he said, “On the issue of agencies of government to explore the operating surplus for financing the budget, I want to bring to the notice of the Senate that just eight of these agencies constitute 80 percent of the operational surpluses.“However, most of these agencies hide under frivolous expenditures to take out these operational surpluses and pay peanuts to the government.”Adeola responded that the reports presented by the defendants were inadequate, stressing that his panel had asked the MDAs to present their audited financial reports.He said: “You will not find the Central Bank of Nigeria carrying out the functions of the Federal Government; like a government within a government. We asked them yesterday to furnish us with more documents so that we can have a full-fledged report on the CBN, Nigeria Maritime Agency and Nigerian Ports Authority.“On the issue of NPA, we have an agency that is operating in isolation. This is one agency that has taken me aback. How can an agency generate over N170bn in a year and come to you to say that over N140bn or N140bn has been expended the same year? Where is the money they are going to pay into government coffers? “It is a whole lot of job but I can assure you that an interim report will be forwarded to the Senate on these eight agencies.”In his final remarks, Saraki stated, “This matter is now urgent and important because based on the recommendation we have agreed here, it is going to affect 2018 budget and 2017 budget implementation.“Whatever it takes, you need to dedicate time and let us have a report, at least on these three agencies within the next one week – two weeks maximum.” 

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