FRCN HQ
Featured Headline News Nigeria

Reps block over N500m in FCCPC account

The house of Representatives committee on finance has directed the office of the Accountant-General of the Federation to block over N513 million in the account of the Federal Consumer Competition and Protection Commission (FCCPC).

Chairman of the committee, James Faleke, gave the directive after expressing dissatisfaction with the remittances of the commission to the federal government.

Mr Faleke stated that the account would remain blocked until the committee clears them when they reappear on Monday next week.

He also directed the executive commissioner of the FCCPC to come with all the officers of the commission as well as the management of the commission next week.

The problem started when the executive commissioner in charge of operations of the commission, Dr Adamu Abdullahi, stated that the commission generated N4.024 billion in 2021 but remitted only N1.341.

According to him, the commission used over N2.5 billion as overhead.

Faleke wondered how the federal government is expected to fund the budget when agencies spend the money they generated.

Reporting by Ibrahim Shehu; Editing by Muzha Kucha