The House of Representatives Public Accounts Committee, chaired by Rep. Bamidele Salam, has expressed concern over the lack of transparency in the collection of foreign mission revenue during a meeting with the Accountant General of the Federation.
The committee is worried about the slow implementation of the automation of foreign currency collection in Nigeria's foreign missions, which aims to enhance accountability and transparency in revenue generation.
Accountant General of the Federation Mrs. Oluwatoyin Sakirat, explained that a contract was awarded to Files Solutions Limited in 2021 to automate foreign currency collection at a cost of N83.6 million for five years, with a commission of 1-5% depending on the amount collected.
However, the portal launched in May 2023 has not been utilized as of June 2024. Committee members expressed disappoint over the delay, citing the need for urgency transparency in revenue collection to address the current harsh economic situation in the country
chairman of the committee highlighted the importance of deploying the automated solution to improve revenue collection to reduce borrowing by govt.
The committee however ordered the commencement of automation within 60 days without extension and requested records of gross revenue generated from foreign missions over the last five years.
Discussion0