Commission picks holes in fiscal act, seeks reform

DESPITE the existence of the Fiscal Responsibility Act of 2007, the nation’s dream of enthroning a regime of prudent, ethical and effective management of public funds and resources across all arms and tiers of government in the Federation might not be realised anytime soon.  Reason: The Fiscal Responsibility Commission (FRC) yesterday disclosed that it was battling to enforce the Act with minimal results owing to several loopholes in the Act, which stakeholders are exploiting.

Chairman of the Commission, Dr. Aliyu Jibril Yelwa, stated this in Abuja at a Town Hall meeting on the 2012 budget organised by a non-government organization, ActionAid. Participants were drawn from government agencies, organised private sector, labour unions, the media, civil societies and professional associations. Yelwa observed that states and local councils were having a field day exploiting the Act by refusing to domesticate it and subject their processes to fiscal responsibility scrutiny. He described the Commission as “a police without gun sent to put down riot and arrest offenders.”

http://www.ngrguardiannews.com/index.php?option=com_content&view=article&id=79941:commission-picks-holes-in-fiscal-act-seeks-reform&catid=1:national&Itemid=559

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