Audit observed that the Management of the Council under-remitted the mandatory 25% of its total Internally Generated Revenue (IGR), due to the Federal Government’s Consolidated Revenue Fund (CRF) for the year ended December 2017, to the tune of N29,531,165.90.
The total internally generated revenue was N192,912,745.19 and the expected 25% remittance to the Consolidated Revenue Fund (CRF) was N48,228,186.30. However, only N18,697,020.40 was actually remitted to the CRF, leaving a balance of N29,531,165.90 unremitted.
The Registrar is required to remit both the balance of N19,761,061.30 and all interest accruing therefrom to the Consolidate Revenue Fund of the Federal Government, forwarding evidence of remittance to the Public Accounts Committees of the National Assembly for verification. Otherwise, sanction stated in FR 3112 should apply.
N/A
N/A
Click to enlarge image
Seach for project by title, MDA, state, status, year…
Do you know of project(s) in your community that has been abandoned, not executed or poorly implemented. Our team is ready to help you track it and get government to act.
Value for Money allows you to track, report and act on audited development projects abandoned, not executed or poorly implemented in your community to ensure public funds are efficiently, effectively, and economically utilized to improve service delivery to you and other citizens in Nigeria
Stay in the loop, get all project updates straight in your inbox.
