FEC DISCUSSES ECONOMIC GROWTH IN FIRST MEETING
The Federal Executive Council (FEC) says it is perfecting strategies towards plugging leakages in the Federal Ministries, Departments and Agencies (MDAs).
Briefing State House correspondents after the council meeting presided over by President Muhammadu Buhari, the Minister of Finance, Mrs Kemi Adeosun, said the strategy which is the only item at the first meeting of the FEC in 2016, is aimed at fiscal growth of the economy.
Mrs Adeosun decried a situation where many agencies of government don’t remit revenues to the Federation Account.
She maintained that henceforth, MDAs must submit a budget which must be approved by the government to ensure that public monies in public agencies are well spent.
She said the objective is to ensure that every Naira of government is well utilized.
The Council observed that in the past, MDAs spend money without control.
The Minister of Finance also denied reports that the Federal Government has withdrawn the budget.
According to her an audit has been carried out on agencies that collect money in foreign currency, to ensure that such agencies comply with the extant rules.