President Goodluck Jonathan on Wednesday threatened that he would wield the big stick against any ministry, department or agency of government that failed to render accounts or did so late.
He said the full weight of the law would also be made to fall on agencies that failed to remit their operating surpluses.
Jonathan spoke shortly after swearing in two members of the Fiscal Responsibility Commission and two members of the National Population Commission at the Presidential Villa, Abuja before the commencement of the weekly Federal Executive Council meeting.
The House of Representatives Committee on Public Accounts had on November 19, 2012 summoned the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, and heads of many Federal Government MDAs over the alleged non-remittance of revenues totalling N4tn to the Federation Account.
The revenues were collected from 2006 to 2009, according to a report by the Office of the Auditor-General of the Federation, which the committee is currently working on.
The Chairman of the committee, Mr. Solomon Adeola, confirmed to journalists that it was investigating the activities of 60 out of the 601 MDAs.
Adeola said the Nigerian National Petroleum Corporation alone had $7bn recorded against it as revenue shortfall within the period, adding that another discovery was that the Nigerian Liquefied Natural Gas had not remitted any fund to the Federal Government for over seven years.
But Jonathan said his administration would no longer allow such a situation to continue.
“Let me use this occasion to warn government agencies that, henceforth, non-rendition or late rendition of accounts or non-remittance of operating surpluses will attract the full weight of actions as prescribed by law. Also, our commitment to building strong institutions in the lifetime of this administration shall remain unwavering,” the President declared
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