The Corporate Affairs Commission (CAC), an agency under the
Federal Ministry of Trade and Industry alongside 36 others have been stopped
from capital spending by the Senate.
The decision followed a motion presented by the Senate
leader, Ahmed Lawan stating that the parastatals have breached the provision of
Fiscal Responsibility Act, 2007 by not submitting their 2017 budget.
The Corporate Affairs Commission other agencies were
expected to subject themselves to Fiscal Responsibility Act and in line with
the anti-corruption drive of government.
In his submission, Lawan said: “Non compliance to the
provisions of Fiscal Responsibility Act constitutes abuse of power and economic
sabotage aimed at frustrating economic measures been taken by the present
administration to address the Economic recession.”
The brief debate on the matter showed a deliberate attempt
by government IGR parastatals in spending their capital funds not approved by
the Senate.
The Senate in a unanimous decision said such ” was an
aberration and unlawful for those agencies to go on free spending under any
guise.”
Deputy Senate President, Ike Ekweremadu was emphatic that
the parastatals should stop spending until they comply.
Senate President, Dr Bukola Saraki urged Committee chairmen
who have received 2017 budget from the affected agencies to return them, so
that it could be channelled through their Ministers in line with the tradition.
The CAC, CBN, NNPC and others as a matter of statutory
responsibility are expected to tender their financial year report and budget
for preceding year to the Senate through its Committee on Public Accounts and
that of Finance.
By Samson Atekojo Usman
