Unremitted N450bn revenue: FG demands payment plan

New executive order will boost revenue generation – Presidency

The presidency has directed federal revenue generating agencies to work out the modality for refunding N450billion revenue they failed to remit into the federation account.

Finance Minister, Mrs Kemi Adeosun, addressing a news conference in Abuja on Thursday December 1, said that 33 federal agencies are involved in the non-remittance of the revenue, but says some of them have started returning some of the revenue.

The chief executive officers of the affected agencies, the minister explains, have been asked to come up with a plan for repaying the unremitted revenue adding that a meeting with them has been scheduled for December 6.

She gave some of the agencies that are affected by the directive as the Central Bank of Nigeria, the Securities and Exchange Commission, Petroleum Technology Development Fund and the National Agency for Food and Drug Administration and Control.

A committee set up by the presidency to recover the unremitted revenue is headed by the Accountant General of the Federation, Ahmed Idris.

The unremitted revenue were uncovered after auditing of the revenue payment into the federation accounts by the revenue generating agencies.

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