The Public Accounts Committee of the House of Representatives has issued a 60-day ultimatum to the Ministry of Finance and Accountant General of the Federation to automate foreign currency Collection in Nigeria’s foreign missions.
Chairman of the committee, Bamidele Salam, gave the directive during its hearing on the status of Automation of eForeign Currency Collection in Nigeria’s foreign missions.
He expressed displeasure over the negligence of the ministry and the office of the Accountant General, of the Federation towards the technology that will improve the country’s revenue.
In her presentation, the Accountant General of the Federation, Oluwatoyin Sakirat Madein said that Files Solutions Limited was awarded a contract for the automation of foreign currency collection at Nigeria’s foreign missions worldwide at the contract sum of N83.6m on April 28th, 2021 for 5 years in addition to the commission of 1%-5% depending on the amount the company can collect.
She said 90 per cent, which totalled N75.2m of the payment has been paid to the contractor.
The AGF said that the terms of the contract with the contractor are to ensure that the collection of revenue from all Nigerian foreign missions is online in real-time, as well as a multi-currency conversion web portal and multi-language web portal.
“The Automation of Foreign Currency Collection portal was launched on May 25th, 2023, by the immediate past Minister of Finance but was never put into use as of 5th June, 2024.
“Our office is in the process of obtaining approval from the Ministry of Finance to deploy the software which has been tested.
“Discussion is ongoing with the Ministry of Foreign Affairs to provide a list of Foreign Mission for pilot purposes” she explained”.
Also speaking, the Managing Director of File Solutions Limited, Prince Nekan Olateru, said that the company concluded all the processes on the technology in the last three years.
Oduyemi Odumade, Edited By Grace Namiji
-
DayBreak on Kapital Show
With Ife and Bendodo
Welcome to our extraordinary breakfast show, where the sun has just begun to peek over the horizon, and the world is ripe with endless possibilities. From the early hours of 5AM to 10AM on weekdays, we invite you to indulge in a symphony of captivating content that will set the perfect tone for your day.
close Top popular
Post comments (0)