The Senate on Wednesday issued a two-week ultimatum to Acting President Yemi Osinbajo to submit the budgets of the Central Bank of Nigeria (CBN), Nigerian National Petroleum Corporation (NNPC), Federal Inland Revenue Service (FIRS) and 35 other federal agencies.
The ultimatum followed a motion sponsored by Senator Bala Ibn Na’Allah (APC, Kebbi) titled, “Non-submission of the 2017 budget by Public Corporations in violation of the Fiscal Responsibility Act.”
Moving the motion, Na’Allah said the non-compliance to the provisions of the Fiscal Responsibility Act constitutes abuse of power and economic sabotage.
The Senate also passed a unanimous resolution, stopping the agencies from further capital expenditure until the agencies complied with the fiscal responsibility Act.
Senate President Bukola Saraki said the agencies must comply with the ultimatum. “I cannot see how we can continue in a society where we are fighting corruption and people will be spending money without approval, without appropriations, it must stop, it will stop and is going to stop from now.
“Clearly we have made our position that based on this amendment these agencies they must get their budget to us in two weeks and committee chairmen, I want to appeal that once we get the budget on our own part as well let’s ensure that we do it publicly, very diligently and try and turn it around as quick as possible,” he said.
