President Muhammadu Buhari has directed the Ministry of Finance to commence immediate audit of the accounts of all revenue generating agencies, Daily Independent reports.
Among agencies to be audited are the Federal Inland Revenue Service (FIRS), Nigerian National Petroleum Corporation (NNPC), Nigerian Maritime Administration and Safety Agency (NIMASA), the Nigerian Customs Service (NCS), Nigerian Ports Authority (NPA), Nigerian Civil Aviation Authority (NCAA) and Nigerian Television Authority (NTA).
The decision is part of strategies by the Federal Government to plug all revenue leakages and save monies to fund critical infrastructure. Minister of Finance, Mrs. Kemi Adeosun, who briefed State House Correspondents yesterday at the end of the Federal Executive Council (FEC) meeting alongside the Minister of Information and Culture Alhaji Lai Mohammed, said government was concerned about the continued failure of some agencies to remit funds into the Consolidated Revenue Fund (CRF).
She said the Ministry of Finance had, in December last year, issued a circular requesting that MDAs send their budget in line with the new initiative of tracking revenue leakages. “What we discussed today was the responsibility of the ministers to ensure that whether those agencies have boards or not, those budgets are prepared that the Ministry of Finance is going to sit down with the supervising ministers and with the boards concerned, where necessary, to go through their budgets and make sure that they are reasonable, that the costs are not inflated,” she stated.