Senate Gives Agencies Two Weeks To Submit Budgets
Someone is watching everyone so no one should be caught pants down.
Agencies of the Federal Government that spend funds allotted to them without the approval of the National Assembly, as stipulated by the law, will have to abandon that practice.
On Wednesday, the Senate in line with Sections 21(1), (2) and 3 of the Fiscal Responsibility Act (FRA), passed a motion that requires all concerned agencies to submit their budgets to the National Assembly in the next two weeks.
The upper chamber believes that the decision will curb the ongoing practice by Statutory Corporations of the Federal Government which spend funds not approved by the National Assembly.
It also wants Ministers that supervise such agencies to immediately submit the budgets of these agencies to the National Assembly.
Also suspended are all capital and non-essential expenditures for the current budget year, pending the submission and subsequent approval.
The Senate President, Bukola Saraki, said that the decision is in-line with the current anti-corruption fight of the President Muhammadu Buhari-led Federal Government.
“This is because it limits the discretionary spending of public funds by the heads of government parastatals and agencies.
“Moving forward, in order to ensure that this practice does not repeat itself, the Senate will immediately begin to work on amending the Fiscal Responsibility Act to ensure that legal infractions like the non-compliance to the provisions of the Act receive adequate punitive measures,” the Senate President added.