Nigeria Content Online

The Federal
Government has hired the services of some accounting firms to audit the
revenue accounting processes of all ministries, departments, and
agencies in the country.

Segun Aganga, the
Finance minister, said this at a two-day national workshop on
independent revenue generation, collection, and remittance, which
opened yesterday in Abuja. Mr. Aganga added that the exercise is
expected to help improve government revenue performance.

The theme of the
workshop is ‘Enhanced Revenue Base As a Veritable Tool for
Implementation of Government Policies and Programmes.’ The minister,
who described as “very poor”, revenue performances of ministries and
agencies, said out of a total N194.5billion of estimated internally
generated revenue (IGR) from January to August this year, actual
revenue collection was about N72.196billion, indicating a variance of
over N12.3billion.

While emphasising
the need for Nigerians to find a sound and uninterrupted source of
funding government budget, Mr. Aganga said the country would be able to
realise its aspiration of becoming one of the leading 20 economies in
the world by 2020, if its revenue generation base is expanded.

“Our nation can
only attain greatness if, uncompromisingly, we all manifest the
greatness in us by our thoughtfulness, good attitude, and noble needs
by affirming that, individually and collectively, we can realise the
vision by renewing our mind,” he declared.

Noting that
corruption and other financial crimes have, over the years, made the
attainment of accountability, probity, and transparency in governance
difficult, he urged participants in the workshop, made up of revenue
administrators to ensure that the training to be received redefined
their focus in their responsibility towards improved revenue
generation, collection and remittances to government.

Lapses and deficiencies

Ibrahim Dankwambo,
the Accountant General of the Federation (AGF), said the workshop
organised by the Revenue and Investment Department of his office was to
focus on lapses and deficiencies identified during routine revenue
monitoring exercises in the ministries and agencies.

Mr. Dankwambo said
over the years, the ministries and agencies were not maintaining proper
books of accounts, particularly the prescribed treasury cash books.
They were also habitually not issuing treasury receipts for remittances
due to lack of Tax Identification Number (TIN), poor follow-ups by
paying agencies, and wrong postings of withholding tax and Value Added
Tax (VAT), as well as other forms of tax collections in cash books.

He said his office
will ensure greater accountability and transparency in the country’s
fiscal operations, thereby facilitating adequate monitoring of the
activities of revenue generation and administration agencies; new
revenue offices are to be opened nationwide.

As a pilot scheme,
he said plans have been concluded to establish revenue monitoring
offices in Port Harcourt, Lagos, Kano, and Maiduguri, while a team of
revenue officers would be set up to monitor on a daily basis the
revenue performances of MDAs in the various regions.