Revenue-generating agencies hand over unremitted N793 million to Recovery Committee

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Revenue-generating agencies hand over unremitted N793 million to Recovery Committee

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Courtesy of the Recovery Committee set up by Minister of Finance, Kemi Adeosun two weeks ago. It has been announced that the federal government has recovered an additional N793 million unremitted surpluses from three revenue generating agencies accused of short changing the government.
Minister of Finance, Kemi Adeosun

Minister of Finance, Kemi Adeosun

This was announced by the Director of Information, Federal Ministry of Finance, Salisu Dambatta in a statement on Wednesday.The Recovery committee was charged with the task of recovering N450 billion operating surpluses from revenue generating ministries, departments and agencies.A demand was issued by the committee to 17 of the initial 33 affected agencies of which it met with only 10. The agencies include: The National Shippers Council, National Health Insurance Scheme, Nigeria Export Promotion Council, Nigeria Civil Aviation Authority, Nigeria Communication Commission, Nigeria Postal Service, National Pension Commission, Nigeria Bulk Electricity Trading Company, Raw Materials Research and Development Council and the Federal Radio Corporation of Nigeria.According to the statement, N278 million was recovered from the Raw Materials Research and Development Council (RMRDC), N407 million from the Nigeria Shippers Council and N108 million from the Nigeria Export Promotion Council totalling N793 million.It was also stated that other agencies were in the process of submitting repayment plan for approval.Meanwhile, four agencies that were unable to make it to the meeting due to short notice have been scheduled to appear before the Recovery Committee.They include the Central Bank of Nigeria, National Pensions Commission, Nigeria Television Authority and the National Information Technology Development Agency.

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