By Faith Anisiobi, The Sight News
The Fiscal Responsibility Commission (FRC) has directed the Nigeria Customs Service (NCS) to immediately submit its outstanding audited financial statements, expressing concern that the agency has failed to file the reports since 2019 in violation of the Fiscal Responsibility Act (FRA), 2007.
The Acting Executive Chairman of the Commission, Barrister Charles Chukwuemeka Abana, gave the directive while receiving a delegation from the Nigeria Customs Service at the Commission’s headquarters in Abuja.
Abana said the failure to submit audited accounts breached the provisions of the Fiscal Responsibility Act and urged the Customs Service to comply fully with the law by forwarding the outstanding financial statements and ensuring the prompt remittance of its operating surplus into the Consolidated Revenue Fund (CRF).
He also called on the Service to strengthen revenue generation while maintaining transparency, prudence and accountability in the management of public finances, noting that the persistent non-compliance of some government agencies with the Act has undermined the Federal Government’s fiscal management efforts.
The FRC boss explained that the Commission’s operating surplus computation template is straightforward and has enabled compliant agencies to make meaningful contributions to fiscal sustainability and national economic development.
Citing the Nigeria Immigration Service as an example, Abana said the agency recorded significant improvements in compliance and financial reporting after participating in the Commission’s capacity-building programme on the implementation of the Fiscal Responsibility Act. He urged the Customs Service to follow the same path.
He further assured the delegation that the Commission would provide the necessary technical support and professional guidance to help the Nigeria Customs Service achieve full compliance with the Act, reaffirming the FRC’s commitment to fostering a productive partnership with the agency in promoting fiscal discipline and accountability.
Responding on behalf of the delegation, the Comptroller of Accounts, Amedu O., attributed the delay in submitting the audited accounts to communication gaps. He assured the Commission that the Nigeria Customs Service would take immediate steps to submit the outstanding financial statements, comply with the Fiscal Responsibility Act, and work with the FRC to reconcile its submissions using the approved operating surplus computation template.
The meeting ended with both institutions reaffirming their commitment to strengthening collaboration to enhance transparency, accountability and prudent financial management in Nigeria’s public sector.
