The Fiscal Responsibility Commission (FRC) is seeking an amendment to its activities to allow for punishment on Ministries, Departments and Agencies (MDAs) who fail to render their accounts as prescribed by law.
The acting chairperson of the commission, Victor Muruako, said this at a press briefing in Abuja on Thursday.
He said the immediate amendment of the Fiscal Responsibility Act (FRA) will put an end to deliberate violations by public servants.
He said some agencies have taken advantage of the non provision of punishments for violators of the Act.
“The proposed amendment seeks to end the impunity that has previously attended the deliberate violation of critical provisions of the Act, especially regarding availing the commission, on request, certain documents/information relating to public revenues and expenditure as provided under Section 2(1) of the Act.
“There are no punishments provided for offences committed under the ACT. Hence, public servants find it very convenient to violate the act without care,” he said.
The Fiscal Responsibility Act (FRA) was enacted in 2007 to provide for prudent management of the nation’s resources, ensure long-term macro-economic stability of the national economy, and secure greater accountability and transparency in fiscal operations within the Medium Term Fiscal Policy Framework.
Under the Fiscal Responsibility Act 2007, all government agencies are expected to compulsorily remit their operating surpluses to the federation account, annually.
But Mr Muruako said some agencies have not submitted their audited financial statements for the past five years.
“This has really affected our operation and they find it convenient to escape the law because there are no consequences,” he said.