Non-Remittance Of 80% Operational Surplus to The Consolidated Revenue Fund (CRF)

Posted on
by OLUDOLAPO TUBI
  • Project Status: N/A

MDA

Veterinary Council of Nigeria Maitama, Abuja

Project Location/State

Award Year

2019

Contract Sum

₦₦0.00

Amount Paid

₦₦0.00

Unaccounted

₦₦36,145,761.67

Context/Observation

I.The Council generated a total sum of N122,273,614.28 and incurred expenditures of (N79,481,047.29) leaving the sum of N45,182,202.09 as operating surplus.
II.Management of the Council was expected to remit 80% of N45,182,202.09 operating surplus, which amounted to N36,145,761.67 to the Consolidated Revenue Fund (CRF).
III.The sum of N36,145,761.67 was not remitted as required.

Contractor

N/A

Beneficial Ownership Information

N/A

Legislative Recommendation

The Registrar is requested to:
I.Furnish reasons why Operating Surplus was not remitted as required by extant regulations.
II.Remit the sum of N36,145,761.67 to Consolidated Revenue Fund (CRF).
III.Forward evidence of remittance to the Public Accounts Committees of the National Assembly.
IV.Otherwise, sanctions relating to failure to collect and account for Government Revenue specified in paragraph 3112 of the Financial Regulations will apply.

Executive Action

N/A

Progress Report

N/A

Data Source

2019 Non-Compliance Audit Report of the FG

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