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The House of Representatives Public Accounts Committee has intervened in the dispute between the Securities and Exchange Commission and the Fiscal Responsibility Commission regarding an alleged failure to remit over N45 billion to the Consolidated Revenue Fund.
The Committee has urged the two government bodies to resolve the issue amicably and return to the drawing board for a settlement.
This directive was given by Chairman Bamidele Salam during a public hearing on government revenue leakages in Abuja.
The Fiscal Responsibility Commission had accused the SEC of not responding to a 2022 report that highlighted N45 billion in unremitted operating surplus from 2007 to 2021. In response, SEC's Director-General, Lamido Yuguda, stated that the Commission had reconciled its operating surplus with the Office of the Accountant General of the Federation.
The SEC provided evidence of past remittances and expressed readiness to provide all necessary documents to refute the allegation.
A review of the submitted documents confirmed that the SEC had made all submissions and payments, which was corroborated by the Office of the Accountant General of the Federation. The report also highlighted the positive transformation of the Commission's financial position under Lamido's leadership.
