Senate Orders NAFDAC to Reconcile Accounts Amid Discrepancies
The Nigerian Senate, through its finance committee, has ordered the National Agency for Food and Drug Administration and Control (NAFDAC) and the Ogun-Osun River Basin Development Authority (OORBDA) to reconcile their accounts following discrepancies in reported revenue figures. The committee, chaired by Senator Sani Musa from Niger East, stated that the agencies must regularize their financial records within 14 days to avoid sanctions, which could include the suspension of budget releases.
NAFDAC's Director General, Prof. Mojisola Adeyey, reported that the agency's figures showed a steady increase in its internally generated revenue, with projections of N18.73 billion for 2023, N29.85 billion for 2024, and N39.6 billion for 2025. However, NAFDAC has only remitted N3.9 billion in operational surplus from 2007 to 2023.
The introduction of the Treasury Single Account (TSA) policy in January 2024 has created financial challenges for NAFDAC, affecting its ability to meet financial obligations.
Plus234Feed summary based on reporting from Blueprint. Read the original report below.
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