The Fiscal Responsibility Commission (FRC) has said it will develop strategies to fast-track remittance of surplus revenue into Federal Government Consolidated Revenue Fund by line agencies in 2019.
The Ag. Chairman of the commission, Mr. Victor Muruako, who stated this in an interview on Monday at the Yankari Game Reserve in Bauchi, said the Commission which had operated for 10 years, would enhance the need to introduce effective techniques to enable Federal Government raise funds for its capital projects across the country.
He noted that recently, the Commission introduced a template for calculating surplus revenue, with most agencies already committed to complying with it.
Muruako said that the Commission would no longer tolerate failure to remit surplus revenue or lack of prudence from any line agencies.
“The Commission will review and develop strategies because the Federal Government needs funds to executes all its campaign promises.
“Some scheduled agencies are not complying by not presenting their annual financial report and we will not allow that to continue.’ He said
Muruako said the Commission would strictly adhere to public procurement procedures for accountability and transparacy in its operations.
The FRC is currently holding a seven-day retreat on Procurement and Management at the Yankari Game Reserve, Bauchi, starting from February 2.