The Senate has given Acting President Yemi Osinbajo a two-week ultimatum to direct all government agencies that have failed to submit their 2017 budget proposals to the National Assembly in line with extant laws for consideration and approval, to do so or the affected agencies would be made to face the full wrath of the law.
The Senate also promised that once it gets the budget, it will make it public, work on it diligently as well as turn it around as quickly as possible.
Similarly, the senate has summoned the Federal Inland Revenue Service, FIRS, Central Bank of Nigeria, CBN, National Petroleum Investment Management Services, NAPIMS, Chevron Nigeria Limited and Nigerian National Petroleum Corporation, NNPC, over allegation contained in a petition accusing them of tax irregularities.
The summon was issued, yesterday, by the Senator Magnus Abe (APC, Rivers) led Senate Adhoc Committee on the alleged fraud against Chevron.
Bukola Saraki
Speaking shortly after the inauguration of the committee by Senate President, Bukola Saraki, who was represented by Senate Minority Leader, Godswill Akpabio, Senator Abe noted that the committee will not be biased in its investigation, vowing to uncover truth behind the $5 billion Tax fraud allegation against Chevron.
People can't spend money without approval —Saraki
Meanwhile, speaking while giving acting President Osinbajo a two-week ultimatum to direct all government agencies to submit their budgets for consideration and approval, the Senate President, Saraki, noted that Nigeria as a country fighting corruption, cannot continue "this way where people will be spending money without approval, without appropriations. It must stop, it will stop and is going to stop from now."
The Senate ultimatum, was sequel to a motion by Senate Deputy Leader, Senator Bala Ibn Na' Allah (APC, Kebbi State).
Senator Na'Allah in his presentation, said, the "Senate is worried about the non-submission of the 2017 budget proposal by Statutory Corporations to the National Assembly.
"Senate notes that section 21 (1-3) of the Fiscal Responsibility Act stipulates that: "The government corporations and agencies and government-owned companies listed in the Schedule to this Act shall, not later than six months from the commencement of this Act and for every three financial years, thereafter, and not later than the end of the second quarter of every year, cause to be prepared and submitted to the Minister, their Schedule estimates of revenue and expenditure for the next three financial years.
"Each of the bodies referred to in sub-section (1) of this section shall submit to the Minister not later than the end of August in each financial year: (a) an annual budget derived from the estimates submitted in pursuance of subsection (1) of this section and (b) projected operating surplus which shall be prepared in line with acceptable accounting practices.
"The Minister shall cause the estimates submitted in pursuance of subsection (2) of this section to be attached as part of the draft Appropriation Bill to be submitted to the National Assembly.
"Senate observes that non-compliance with the provisions of the Fiscal Responsibility Act constitutes abuse of power and economic sabotage aimed at frustrating the current economic measures being taken by the current administration to address the economic recession."
In his remarks, Senate President, Saraki, noted that the action must be taken very seriously against the backdrop that the huge amount of money independent revenue gets, exceeds what the country gets from oil, saying: "Let me thank the Deputy Leader for this very important motion. Truly, this motion is at the heart of the fight against corruption and it is very important as we see that independent revenue, the amount of money independent revenue gets even exceeds what we get from oil revenue.
"Clearly we have made our position that based on this amendment, these agencies must get their budgets to us in t
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