Senate Threatens Sanctions on NAFDAC Over Budget Issues
The Nigerian Senate, through its Finance Committee chaired by Sani Musa, has threatened budget sanctions against the National Agency for Food and Drug Administration and Control (NAFDAC) and the Ogun-Osun River Basin Development Authority for failing to reconcile their accounts. The committee's oversight revealed discrepancies in revenue remittances, with NAFDAC reporting operational surpluses of ₦18.73 billion for 2023, ₦29.85 billion for 2024, and ₦39.6 billion for 2025.
NAFDAC's Director General, Prof. Mojisola Adeyeye, explained that the agency remitted ₦3.9 billion from 2007 to 2023 but faced challenges due to the Treasury Single Account policy introduced in January 2024. The Senate has mandated the agencies to regularize their financial records within 14 days or face sanctions, including budget release suspensions.
Additionally, the Ogun-Osun River Basin Development Authority has been called out for failing to submit its 2022 financial audit, with outstanding liabilities dating back to 2022.
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