Essential Facts About Home Insurance

Understanding the basic facts about home insurance is crucial to protecting your investment whether you are a first-time home buyer or an e...

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06/03/2017

Federal Govt Issues Circular to Control Spending In MDAs - [NECO]

Information reaching our NECO news desk through ProshareNg this afternoon is that Federal Government of Nigeria have issued a circular to the following agencies: NECO, JAMB, NCC, NIMASSA, NPA, NTA, CAC. This circular was issued to compel all of the above mentioned boards and agencies who are operating outside the budgetary control to comply with the constituted law "Sec 22(2) of the Fiscal Responsibility Act (FRA)". The above listed agencies are expected to remit 80% of their operating surplus into the Consolidated Revenue Fund.

Education: NECO Result Checker

Ministry of Finance


Read the rest of the story from ProShareng.


According to the Minister of Finance, some agencies have never credited the Consolidated Revenue Fund despite having salary, capital and overhead financed by the Federal Government. Indeed, cost to income rates of 99.8% have been the average, meaning that they spend all their internally generated revenue and subventions released to them. 


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1 comments so far

Federal Govt knows what is the best for them, let them do it.

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