FRC Collaborates with National Assembly to Amend FRA

The Fiscal Responsibility Commission (FRC), chaired by Charl Chukwuemeka Abana, is intensifying its collaboration with the National Assembly to amend the Fiscal Responsibility Act (FRA) of 2007. This initiative aims to promote prudent resource management, ensure macroeconomic stability, and enhance accountability in public spending.

During a courtesy visit to Raymond Omenka Omachi, the Permanent Secretary of the Federal Ministry of Finance, Abana noted the need to strengthen the Act, which currently contains several offenses but lacks corresponding sanctions. He discussed ongoing efforts to align the commission's operations with best practices and mentioned a recent management retreat aimed at developing a strategic work plan.

Abana raised concerns about staffing shortages and inadequate office accommodations within the commission. Omachi expressed support for the commission's initiatives and acknowledged its significant contributions to fiscal discipline in Nigeria.

He assured continued support from the ministry, particularly during public hearings and stakeholder engagements.