Reps to probe NAFDAC over under-declaration of revenue

The House of Representatives Committee on Finance has placed the National Agency for Food and Drug Administration and Control (NAFDAC) on status enquiry, over the agency’s submissions which it said appears to show their income is more than what is recorded and declared.

Chairman of the Committee, Hon James Faleke, gave the ruling during a meeting with government agencies to probe the remittance of revenue, directing that the agency bring all its bank statements and other relevant records on April 5, 2022 when it is expected to appear again.

“You have to bring all your bank statements, your records, because we have the suspicion that your income is more than what is being recorded. It is more than what you are showing us. You will be back on 5th of April and we expect that the Accountant General office’s and Budget Office will be there,” Faleke said.

Director General of the Agency, Prof Mojisola Adeyeye, had earlier said in her submission that they generated N4.8 billion in the last quarter of 2021.

She however said they remitted N1.3 billion, while the N3.5 billion was used for the running of the agency.

A member of the committee raised an observation that the agency in its submission declared that 25 percent of a N1.2 billion revenue amounted to N818 million instead of around N300 million.

The NAFDAC DG tried to explain that this was because the Federal Government deducted the percentage from source which includes other funds that are not revenue.

However, the Committee Chairman disagreed saying it is either the total revenue is more than the sum being recorded or is a calculation error.

He said the Committee was out to monitor the remittance of expected revenue to the coffers of the government, adding that it was not a witch-hunt but aimed at improving the economic health of the country.

He stressed that all agencies must comply, adding that the committee would carry out its duty without fear or favour. (Daily Independent)