Fiscal Responsibility Commission (FRC) has charged Federal Road Safety Corps (FRSC) to strengthen revenue generation performance and remittances through improved understanding of the Fiscal Responsibility Act, 2007.
The Director, Administration and Human Resource of FRC, Alhaji Muhammed Zailani stated this while declaring open a two-day capacity building on Fiscal Responsibility Act, 2007.
Alhaji Zailani, who represented the Executive Chairman, Victor Muruako,Esq appreciated the dynamic Management of the Federal Road Safety Corps for organizing the training against all odds and for seeking a better understanding of the Fiscal Responsibility Act, 2007 in the quest to ensure full compliance on remittances of revenue to the Federal Government particularly at a time like this when all hands must be on deck to improve the Government capacity to provide solutions to all economic and infrastructural questions.
According to him, the fiscal responsibility initiative which was fully adopted by the Federal Government of Nigeria was an internationally accepted solution to the plethora of challenges of many governments of the world against profligate and careless abuse of office by public office holders around the world including Nigeria.
The initiative introduced rules and regulations for government fiscal operations by all government officials, the adherence of which is expected to introduce discipline, prudence, accountability and transparency and to ensure that all public funds are accounted for.
He went further to say that the Fiscal Responsibility law made provisions for clear governance of our national fiscal ecosystem including Establishment, Functions and Powers of the Fiscal Responsibility Commission, The Medium Term Expenditure Framework (MTEF); The Annual Budget; Budget Planning of Corporations; Budgetary Execution and Achievement of Targets; Public Revenues; Savings and Asset Management; Public Expenditure; Debt and Indebtedness; Borrowing; Transparency and Accountability; Enforcement; Miscellaneous Provisions; Interpretations as well as a Schedule, which captured the list of Government Owned Enterprises (GOEs).
The Ten Parts of the Act as specified above has the mandate in its long title to “provide for prudent management of the nation’s resources, ensure long-term macro-economic stability of the national economy, secure greater accountability and transparency in fiscal operations within a medium-term fiscal policy framework, and the establishment of the Fiscal Responsibility Commission to ensure the promotion and enforcement of the nation’s economic objectives; and for related matters”
The Director, Administration and Human Resources, FRC said that the commitment of the Commission in the programme is to promote and enforce the nation’s economic objectives in terms of revenue generation, which has become very important for the government to implement its numerous programmes outlined in the national budget which need funding.
He described the Federal Road Safety Commission as part of the Government agencies that earn revenue in several ways, adding that this programme was meant to strengthen the performance of the Federal Road Safety Corps on remittances through indepth knowledge of the Fiscal Responsibility Act, 2007.
In his response, the representative of the Corp Marshal, Deputy Corp Marshal Finance and Account, FRSC, Dauda Biu called for continuous training of this nature for improved understanding of the FRA, 2007, according to a statement by Bede Ogueri Anyanwu, Head, Strategic Communications Directorate of the FRC ,
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