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FG bars MDAs from spending Internally Generated Revenues

To stop the high incidence of unremitted operating surpluses that stood at N450bn as of last year, the Federal Government has barred its Ministries, Departments and Agencies from spending Internally Generated Revenues that are not appropriated in their annual budgets.

Also, declaring deficits will no longer provide an escape route for the MDAs to avoid payment of operating surpluses, investigation has shown.

Source: Financial Watch Nigeria


Tags: Federal Government  Mdas  Ministries