i.A total of N550,760,605,975.75 was net collection for the year 2016;
ii.The sum of N550,229,485,590.01 was remitted into the Federation Account net of the bank charges;
iii.Unremitted net collection was N531,120,385.74 which, when added to the opening balance of N455,917,932.81 being under-remittance for 2015, brought the under-remitted balance to N987,038,318.55
iv.The Service reported a closing under-remittance of N976,564,637.04
v.The actual under-remittance of N987, 038,318.55 which when compared to sum of N976,564,637.04 reported by the Service, gave an under-disclosed amount of N10,473,681.51
The Comptroller-General NCS is requested to:
i.Account for the unremitted sum of N10,473,681.51; 421
ii.Remit all unremitted balances amounting to N10,473,681.51 to the Federation Account and forward evidence of remittance to the Public Accounts Committees of the National Assembly, and
iii.Otherwise, sanction relating to failure to collect and account for government revenue stated in paragraph 3112 of the Financial Regulations will apply.
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