Reps finance committee to focus on revenue leakages

The House of Representatives Committee on Finance says it plans to block revenue leakages in government Ministries, Departments and Agencies (MDAs) as well as ensure adequate funds for government activities.

The Chairman of the committee, Rep. James Faleke (APC-Lagos state) said this at an interactive session with stakeholders on Tuesday in Abuja.

Faleke said that there was a need for all African countries to look inward for economic growth and development given the looming global economic downturn.

He said that the committee needs to be guided by the Constitution and the Standing Orders of the House in discharging its duties.

“In addition to our core jurisdictional mandate, we will be addressing the revenue and fiscal aspects of the various Ministries Departments and Agencies (MDAs) through effective oversight and legislation on those fiscal policies that will provide effective revenue generation and economic development,” he said.

In her remarks, the Accountant General of the Federation, Mrs Oluwatoyin Madein said her office was putting measures in place to improve revenue generation.

She said that measures were being put in place to digitalise the entire process of revenue remittances and receipts issuance.

Madein said that the Office of the Accountant General was ready to collaborate with the committee to achieve its mandate.