By Temitope Ponle
The House of Representatives Committee on Finance has directed the National Agricultural Seeds Council (NASC) to present its approved budgets from 2014 to 2019.
Chairman of the committee, Rep. Abiodun Faleke said this in a meeting with the leadership of the council led by the Acting Director-General, Mr Agboola Adebayo on Thursday.
Faleke said the directive was to enable the committee investigate the council’s dwindling remittances to the Consolidated Revenue Fund (CAF).
This followed Adebayo’s presentation of the council’s yearly remittances of 100 per cent to the CAF from 2014 to 2019.
The chairman said that higher remittances were made in 2014 but dropped in the following years.
The NASC was also unable to state the banks used by the council.
“We need your approved budgets for 2014 to date; utilisation of budget; your auditor’s report from 2014 to date; your bank statements, even your TSA statements; all the contracts awarded upon which these tender fees were paid; and treasury receipts.
“By the Accountant-General’s record, we know your agency is indebted and from what you have said, I can see that this document is made up and we are not fools here,” he said.
The acting director-general said the revenue generated by the council in 2014 was N230.56 million while in 2015 it generated N72.38 million.
He said the revenue generated in 2016 was N60.71 million; in 2017 was N20.67 million; in 2018, it generated N34.32 million while in 2019 the revenue was N31.38 million. (NAN)