CBN and the AGFappeared before the Senate Committee on Public Accounts could not explain how ₦596 billion ecological fund was spent from 1999 to 2015.
and the Accountant General of the Federation on Thursday when they appeared before the Senate Committee on Public Accounts could not explain how ₦596 billion ecological fund was spent from 1999 to 2015.
Mr Ayine had said, contrary to the provision of Section 5 of the Revenue Allocation Act which requires that an agency be established to manage the ecological fund, no agency had been established to manage it. Thereafter, the Senate committee chairman, Matthew Urhoghide, summoned the Secretary General of the Federation , Boss Mustapha, while also asking the CBN to submit the statement of ecological fund account to the committee.
The accountant-general, Ahmed Idris, in response, said: “The noncompliance of the remittance of 5 per cent of the contributory pension was as a result of insufficient funds. Also, I wish to state, as funding improves, the service will comply accordingly.” Displeased about the response of the Customs Service, Chairman Urhoghide said the committee would not take noncompliance to an act of parliament by agencies. However, due to the absence of representatives from the Custom Service, the matter was stood down.
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