Senate Committee on Finance warns MDA’s over diversion of revenues 

Revenue generating federal ministries, departments and agencies (MDAs) engaging in diversion of revenues has been marked by the NASS and warn to desist from the act.

The Chairman, Senate Committee on Finance, Sen. Solomon Adeola, gave the warning after a meeting with the Chairman, House of Representatives Committee on Finance.

Adeola, in a statement issued on Sunday in Abuja by his Media Adviser, Chief Kayode Odunaro, said that the era of diversion of revenues generated by MDAs was over.

According to him, the National Assembly will ensure that the Federal Government generates enough revenue to implement people-oriented policies and programmes.

“It has been observed that year in year out, the Federal Government has not been able to meet its targets on independent revenue sources.

“Reports show that over the years, the Federal Government has not been able to surpass 30 per cent of its revenue targets.

“This has resulted in low level of budget implementation for critical capital projects.

“We need to reverse this trend. Indeed, we intend to introduce quarterly review of targets so that needed revenue can come to the federal purse” he stated