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Senate lauds FG's recovery of funds

10 December 2015, 20:04

Abuja - The Senate has expressed excitement over the refund of N8 billion allegedly collected by Remita, a revenue collection handling the Treasury Single Account (TSA) for Government.

Senator Olushola Adeyeye, through a point of order, raised the matter at the plenary.

He noted that the Senate had been vindicated for its calls to probe to unravel the alleged fraud and mismanagement of the TSA.

“I have received emails and short messages on how irrelevant the National Assembly is to National Affairs, Adedeye said.

"It is the National Assembly that terminated the third term agenda; it is the National Assembly that ensured smooth transition from one President to another. Now the National Assembly has make it possible for the government to recovered N8 billion from the mismanagement of TSA."

Also read: Kogi bemoans withholding of bailout funds

TSA, the movement of Federal Government funds into the CBN was directed by President Muhammadu Buhari on assumption of office.

Earlier, the Senate President, Bukola Saraki, had directed the Chairman of the Senate Joint Committee on Finance, Banking, Insurance and Other Financial Institutions and Public Account, Rafiu Adebayo to brief the Senate on the outcome of their investigations.

Adebayo confirmed that the CBN governor revealed to the committee that he was not aware of the 1 percent agreement with Remita and that the company had refund N8 billion to the Federal Government.

Saraki urged members of the committee not to succumb to any blackmail in their investigation. He advises them to be determined on the issue as it affected people of Nigeria. 



- CAJ News


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