In his response, Abubakar explained that most of the expenditures were settlements of outstanding liabilities.
The House of Representatives committee on Finance has threatened to shut down the Corporate Affairs Commission for having a higher expenditure than generated revenue between 2016 and 2021.The committee also recommended that the budget office suspend the budgetary approval for the commission until the commission presents reports of all expenditures.
In the ongoing interactive session on the 2022-2024 Medium-Term Expenditure Framework organised by the committee, the chairman of the panel, James Faleke questioned the registrar of the CAC, Garba Abubakar over the operational expenditure of the commission.“When you pay yourself revenue and allowances that take away our revenue, that you ought to have remitted to the government, it is not acceptable,” he said.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Reps threaten to withhold CAC’s 2022 budget over missing financial reportsThe House of Representatives has threatened to withhold budgetary allocation to Corporate Affairs Commission (CAC) after the commission failed to render financial statement going back four years.
Read more »
Zamfara Lawmakers Suspend Plenary Indefinitely After Bandits Abducted Speaker's Dad | Sahara ReportersGunmen believed to be bandits had launched an attack on the Magarya in Kanwa District of Zurmi Local Government Area of the state and abducted the Speaker's father, Alhaji Muazu Abubakar, some weeks ago.
Read more »
Katsina Lawmakers Weep At Plenary For Buhari Government Over Rising Killings | Sahara ReportersKatsina is Buhari’s home state and the governor at a recent briefing lamented that about 10 Local Government Areas are under bandits’ continuous attacks.
Read more »
Benue Governor, Ortom Threatens To Sue Buhari Government Over Grazing Routes | Sahara ReportersBuhari last Thursday approved the recommendations of a committee chaired by the Chief of Staff to the President, Ibrahim Gambari to review “with dispatch, 368 grazing sites, across 25 states in the country, and to determine the levels of encroachment.”
Read more »
Why Boko Haram Terrorists Are Surrendering To Nigerian Army—Report | Sahara ReportersLai Mohammed, the Minister for Information and Culture, also said repentant Boko Haram terrorists should not be prosecuted but treated as prisoners of war.
Read more »
Former Nigerian First Lady, Aguiyi-Ironsi's Wife, Victoria Is Dead | Sahara ReportersShe reportedly died in the early hours of Monday, aged 97.
Read more »