The director-general of the Budget Office, Ben Akabueze, has said the Office of the Accountant-General of the Federation had been asked to recover N300bn unspent funds from the various ministries, departments and agencies.
Akabueze was featuring on Channels Television’s Sunrise Daily.
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According to him, there is provision for projected recoveries to the tune of N238bn in the 2021 budget.
He said: “As we establish with certainty how much remittance any agency hasn’t made, the Office of the Accountant-General of the federation is to go into their accounts and pull back such funds, if they are still there.
“Apart from the general projection for recoveries mentioned, the government has also made provisions for remittances dues from the previous period that they may not have made, amounting to N300 billion in projection.”
He said Nigerian system was designed in such a way that yearly budget elapses on the last day of the year, adding that it is paramount for the government to make audit timelier.
He said untimeliness made it more difficult to recover some of the money.