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Reps query FAAN for remitting N130m out of N36b

25 February 2014, 11:49

Abuja - The House of Representatives Committee on Finance on Monday in Abuja queried the Federal Airport Authority of Nigeria (FAAN) for remitting only N130 million out of the N36 billion it generated in 2013.

The Chairman of the committee Abdulmumin Jibril asked for the explanation at a meeting with revenue generating agencies of the government.

“Why do you expend money that you are supposed to remit to the Government? I believe you are in breach of the laws of our land," he said.

He asked FAAN to furnish the committee with the details of approval for the agency to spend money before remitting what it liked to the federation account.

The legislator asked FAAN to go back and get their explanations, where they got the approval to spend such a huge amount of government money from and provide justification for what they have done.

He said that if every agency of government was allowed to spend money generated by them without approval, no money will be remitted back to the Federation Account.

“What I ask you to do is to go and write what you have done and where you got your approval from," he said.

He stressed that the Financial policy regulation requires FAAN to remit 25 percent  of its gross earning back to the Federal Government.

Jibril also queried the continued absence of the Managing Director of FAAN from committee meetings.

Earlier in a remark, the Director, Business Development of the Authority, Adeniyi  Balogun said that in 2013, the FAAN generated N36billion as revenue and remitted N130 million to the Federal Government after its expenditure.

According to him, the agency did not receive any money from the National Assembly for their expenditure.

He said that FAAN paid its staff salaries, recurrent and capital expenditure from the revenue it generated.

Balogun tendered ``unreserved apology'' on behalf of the FAAN Managing Director, George Esezobor Uriesi for being absent from the meeting.

He said that FAAN projected to generate N56 billon revenue for 2014 as against the N17 billion projected for it by the Budget Office for the same period.

Meanwhile, the committee has ordered the Nigeria National Petroleum Corporation (NNPC) to appear before it on Tuesday.

The NNPC, which was supposed to appear before the committee on Monday, gave no reason for being absent from the meeting.

-    NAN

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