The Federal Government has ordered an investigation into the shortfalls witnessed in the revenue remittances made over years by the Nigerian Maritime Administration and Safety Agency (NIMASA) and the Joint Admission and Matriculation Board (JAMB).
This was part of the resolutions taken yesterday during the Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari.
The Minister of Finance, Kemi Adeosun, who disclosed this to State House correspondents, described the looting in both agencies as massive even as she failed to name the agency that is to carry out the probe.
She however said the leakages had been blocked thereby helping the government to get funds to finance projects needed to stimulate the economy.
She pointed out that records showed that before the change in management, the highest amount ever remitted annually by the JAMB was N3 million.
She disclosed that the new management this year alone remitted N5 billion with another N3 billion ready for remittance.
The said the cabinet resolved that the past managements of the NIMASA and JAMB should be called to account adding that other undisclosed revenue agencies would also be investigated.
“We reported on the progress made by a number of our agencies some of whom have reported very significant increases in the amount paid into the consolidated revenue fund.
“Council discussed JAMB which recorded significant progress and NIMASA as well as others, and gave us the charge to really go and look at these agencies, look in some cases the past managements of those agencies and see where those agencies were leaking and to encourage agencies that haven’t done so to continue with efficiencies.
“The highest amount that JAMB has ever remitted to the consolidated revenue fund before this management was N3 million. This year, so far, they have done N5 billion and the minister of education reported that they have additional N3 billion that they are ready to remit which will take this year’s figure alone to N8 billion.
“Now, they have not increased their charges or their fees. So, the question that council members were asking was that where were all these monies before?
“So, the directive was given that we must call those who were the heads of those agencies and similar ones to account and that is what we intend to do”, she said.
She continues,“It is similar stories with other agencies and these are the leakages which we are now blocking. These are the monies in the consolidated fund that are now being applied in the projects that really need to get the economy moving.
“These are the monies that are missing that have led us to the position we are in. It is the greatest looting that this administration has come in to address.”
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