Senate Committee on Finance has mapped out plans to have the FIscal Responsibility Commission(FRC) attend its interactive sessions with all Federal Government Revenue Generating Agencies as part of the drive to ensure that government get the needed revenues from its agencies and prevent leakages and frivolous spendings.
Chairman of the Committee, Solomon Adeola (APC, Lagos West) who disclosed the modalities over the weekend during the Committee’s first meeting with the FRC Acting Chairman, Mr. Victor Muruko And his management team said the commission has not been performing its functions optimally over the years owing a lot of factors stressing that more than ever before the commission must live up to its responsibilities as enshrined in the Fiscal Responsibility Act of 2007 setting it up.
“Your commission have a watchdog role over Revenue accruing to the Federal Government . With the country facing financial challenges to fund urgent infrastructure and social development, the issue of government revenue leakages and frivolous expenditures by some agencies needs to be curtailed and FRC play a critical role in ensuring this. That is what the Act establishing the commission envisaged and our Committee will be working with the commission during oversights on revenue generating agencies.
He regretted that the Board of the Commission has not been constituted with an acting chairman since 2013 adding that these among other factors will militate against its effective operation in performance of its roles.