The Federal Ministry of Finance said it would soon form a Sub Committee of three independent experienced analysts to examine the books of all the federation’s revenue generating agencies.
This was contained in a statement made available to newsmen on Friday in Abuja by Festus Akanbi, the Special Adviser on Media to the Minister of Finance, Kemi Adeosun.
According to the statement, the move was to improve accountability and increase the capacity of monitoring by the Federation Account Allocation Committee.
It stated that FAAC gave the approval for the appointment at its last meeting in February.
It said: “This is to enhance accountability, improve reconciliations and ensure transparent process in respect of all the revenues accruable to the Federation Account.
“The sub-committee is saddled with the responsibility of examining the books of the Federal Inland Revenue Service, the Nigerian National Petroleum Corporation, the Customs Service, Department of Petroleum Resources and the Ministry of Solid Minerals Development, among others.
“It is expected to report deficiencies observed to the Federation Account Allocation Committee and recommend the way forward.”
It stated that the analysts would form a sub-committee at FAAC and would be in charge of revenue reconciliation and blocking of leakages through the use of technology.
NAN.
Trending
- For swift recovery, stimulate, not levy comatose economy, by Ola Emmanuel
- Hajj 2024: NAHCON tasks kitchen staff on quality service, standard practice
- ICAN, NGX honour Dangote Cement for excellence in corporate reporting
- Osun football coach held by DSS for attempting to sodomise player
- Breaking: Man City are champions again, Arsenal second, Luton relegated + Final table
- Tinubu appoints InfraCorp as Lead developer of Nigeria’s green industrial zone, Evergreen City
- Tyson Fury: I lost because judges ‘sided’ with Ukraine
- Nigeria’s Adekeye emerges Chairperson, APPO Training Directors