{"id":41348,"date":"2022-08-31T08:56:20","date_gmt":"2022-08-31T08:56:20","guid":{"rendered":"https:\/\/www.withinnigeria.com\/broadnews\/?p=41348"},"modified":"2022-08-31T08:56:20","modified_gmt":"2022-08-31T08:56:20","slug":"reps-frown-at-discrepancies-in-2021-remittances","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/broadnews\/2022\/08\/31\/reps-frown-at-discrepancies-in-2021-remittances\/","title":{"rendered":"Reps frown at discrepancies in 2021 remittances"},"content":{"rendered":"<p>The <a href=\"https:\/\/www.withinnigeria.com\/broadnews\/2022\/05\/09\/house-of-reps-aspirant-seek-end-to-protracted-asuu-strike\/\"><strong>House of Representatives Committee on Finance,<\/strong> <\/a>has frowned at discrepancies in the figures of Office of the Accountant General of the Federation (OAGF) and the <a href=\"https:\/\/www.withinnigeria.com\/broadnews\/2022\/07\/29\/forex-cbn-urges-nigerians-to-shun-speculative-activities\/\"><strong>Central Bank of Nigeria (CBN)<\/strong><\/a> on 2021 remittances by government agencies.<\/p>\n<p>Rep. Stanley Olajide (APC- Oyo) a member of the committee said this at a public hearing on the 2023- 2025 Medium Term Expenditure Framework in Abuja on Tuesday.<\/p>\n<p>Olajide said that the figures presented by the OAGF and the CBN on remittances by some agencies like the Energy Commission of Nigeria (ECN), were not the same, saying that while the OAGF record indicated that the commission remitted N27 million, that of CBN showed only N13.63 million.<\/p>\n<p>\u201cI think with this discrepancy we are looking at right here, a status inquiry is required; because for this to be going on, I mean we are talking about tax payers money.<\/p>\n<p>\u201cHow can we have a process when money is sitting in CBN account and we do not know what agency will be credited for it, I think it is absurd, we need to go deep to find out what is going on here.<\/p>\n<p>\u201cSecondly Mr Chairman, looking at their submission, every year all these agencies come here and it is just about coming for a piece of the pie, we are loaning money to fund all these budgets.<\/p>\n<p>\u201cN2 billion in grants received and you are talking about 1 per cent return on investment, director in finance, who does that?,\u201d he said.<\/p>\n<p>\u201cLet\u2019s just look at 2021, N2.4 billion received and look at the kind of remittance you are talking about N13 million and we are talking about running a nation.<\/p>\n<p>\u201cThere is a committee talking about merging all these agencies, if their agency refuses to perform the way we need to, maybe it\u2019s time for us to collapse it into something else, return on investment matters now with what we are going through in Nigeria.\u201d<\/p>\n<p>Mr Clestus Nna, the Director of Finance, ECN, told the committee that the commission has receipts for funds remitted to the Consolidated Revenue Fund (CRF).<\/p>\n<p>\u201cFor 2021, we have the treasury receipt to back our 100 per cent remittance to the CFR.<\/p>\n<p>\u201cOur record is N13 million, we have tender fees, we generated N12 million from tender fees, we have options, we generated N553 thousand and refunds which is N183 million (thousand).<\/p>\n<p>\u201cThe total is N13, 627, 000,\u2019\u2019 he said.<br \/>\nThe chairman of the committee adjourned the hearing until Monday, Sept. 5, urging for reconciliation of the figures before the adjourned date.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The House of Representatives Committee on Finance, has frowned at discrepancies in the figures of Office of the Accountant General of the Federation (OAGF) and the Central Bank of Nigeria (CBN) on 2021 remittances by government agencies. Rep. Stanley Olajide (APC- Oyo) a member of the committee said this at a public hearing on the [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":41387,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"footnotes":""},"categories":[7],"tags":[2973,2981],"class_list":["post-41348","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-central-bank-of-nigeria-cbn","tag-house-of-representatives"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Reps frown at discrepancies in 2021 remittances &#187; BROAD NEWS \u2014 WITHIN NIGERIA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/broadnews\/?p=41348\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reps frown at discrepancies in 2021 remittances\" \/>\n<meta property=\"og:description\" content=\"The House of Representatives Committee on Finance, has frowned at discrepancies in the figures of Office of the Accountant General of the Federation (OAGF) and the Central Bank of Nigeria (CBN) on 2021 remittances by government agencies. 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