{"id":1703,"date":"2021-08-25T14:03:33","date_gmt":"2021-08-25T13:03:33","guid":{"rendered":"https:\/\/mydailybells.com.ng\/businessbells\/?p=1703"},"modified":"2021-08-25T14:33:05","modified_gmt":"2021-08-25T13:33:05","slug":"frsc-boss-frc-in-counterclaims-over-n5-1bn-remission-to-federation-account-from-2016-to-2019","status":"publish","type":"post","link":"https:\/\/mydailybells.com.ng\/businessbells\/frsc-boss-frc-in-counterclaims-over-n5-1bn-remission-to-federation-account-from-2016-to-2019\/","title":{"rendered":"FRSC Boss, FRC in Counterclaims Over N5.1bn Remittance Into Federation Account From 2016 to 2019"},"content":{"rendered":"<h2><\/h2>\n<h2><span style=\"font-size: 18pt;\"><strong>The Fiscal Responsibility Commission, FRC, has alleged that the Federal Road Safety Corps is yet to remit N5.1bn into the Federation Account from 2016 to 2019<\/strong>.<\/span><\/h2>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 18pt;\">FRC made the allegation on Wednesday in Abuja at the ongoing public hearing on 2022 to 2024 Medium-Term Expenditure Framework and Fiscal Strategy Paper.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 18pt;\">The public hearing is organised by the House of Representatives Committee on Finance.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 18pt;\">The official of the FRC said that there was no evidence that the FRSC remitted the money as claimed, adding that the non remittance was gotten from audited financial report.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 18pt;\">But FRSC Corps Marshal, Boboye Oyeyemi, in a swift reaction, said that he was prepared to give evidence of the remittances, while urging the committee to give FRSC the requisite time to reconcile with the FRC.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 18pt;\">He said that there had been no budgetary provision for the production of number plates since inception of the scheme.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 18pt;\">According to him, some of the machines to produce number plates were funded from the proceeds of operating surpluses.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 18pt;\">He stated that what the corps remitted to the Federation Account was what it got after production of number plates.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 18pt;\">The News Agency of Nigeria reports that the committee had earlier called on the FRC to substantiate the claim made by FRSC that it had remitted the said amount.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 18pt;\">The chairman of the committee, Rep James Faleke, had stated that the biggest problem confronting the country was revenue generation, which he described as \u201cappalling.\u201d<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 18pt;\">\u201cWe saw where agency is spending N3bn above its income; we saw where they spend money not budgeted for.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 18pt;\">\u201cWhere this committee see it necessary, we will expunge unnecessary budgetary provision in order to shore up revenue for the country to forestall unnecessary borrowing,\u201d he said.<\/span><\/p>\n<p><span style=\"font-size: 18pt;\">(NAN)<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Fiscal Responsibility Commission, FRC, has alleged that the Federal Road Safety Corps is yet to remit N5.1bn into the Federation Account from 2016 to 2019. &nbsp; FRC made the allegation on Wednesday in Abuja at the ongoing public hearing on 2022 to 2024 Medium-Term Expenditure Framework and Fiscal Strategy Paper. &nbsp; The public hearing [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":1706,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[15,11],"tags":[957,956,954,130,955],"class_list":["post-1703","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-transport","tag-boboye-oyeyemi","tag-federation-account","tag-frc","tag-frsc","tag-n5-1bn-remission"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FRSC Boss, FRC in Counterclaims Over N5.1bn Remittance Into Federation Account From 2016 to 2019 &#8212; Business Bells<\/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:\/\/mydailybells.com.ng\/businessbells\/frsc-boss-frc-in-counterclaims-over-n5-1bn-remission-to-federation-account-from-2016-to-2019\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FRSC Boss, FRC in Counterclaims Over N5.1bn Remittance Into Federation Account From 2016 to 2019 &#8212; Business Bells\" \/>\n<meta property=\"og:description\" content=\"The Fiscal Responsibility Commission, FRC, has alleged that the Federal Road Safety Corps is yet to remit N5.1bn into the Federation Account from 2016 to 2019. &nbsp; FRC made the allegation on Wednesday in Abuja at the ongoing public hearing on 2022 to 2024 Medium-Term Expenditure Framework and Fiscal Strategy Paper. &nbsp; The public hearing 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