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FRC advocates strict monitoring of public funds

The Acting Chairman, Fiscal Responsibility Commission, Mr. Victor Muruako has called for the reintroduction of payment for Monitoring and Evaluation to ensure accountability in the management of public funds.

Mr. Muruako made the call at a capacity building on Fiscal Responsibility Act 2007 for Ngerian Railway Corporation in Abuja.

The Acting Chairman of the Fiscal Responsibility Commission, Mr. Victor Muruako said in the course of the Organization’s assignment especially in Capital Project Verification, there were cases of government agencies cutting corners.

He therefore called on the Federal Government to commence the payment of Monitoring and Evaluation fee to ensure value for Money expended.

The Acting Chairman of the Fiscal Responsibility Commission also said that only 15 states had established Fiscal Responsibility agencies, and appealed to other states to comply for the benefit of their economies.

He explained that since inception, the Commission had brought about the remittance of more than N1.8 trillion naira into the Consolidated Revenue Fund from Ministries Departments and Agencies.

On the relevance of the training, Mr. Muruako said it would focus on calculating Operating Surplus for the Nigerian Railway Corporation. 

The managing Director and CEO of Nigerian Railway Corporation, Mr. Fidet Okhiria represented by the Deputy Director Finance, Adeola Osumakinde stressed the importance of the Fiscal Responsibility Commission to national economy.

The representative of the Nigerian Railway Corporation pledged commitment to effective services delivery to Nigerians in the transport subsector of the economy.

Annabel Nwachukwu

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