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Reps uncover N65b unremitted funds at FAAN
The House of Representatives has said it discovered over N65 billion unremitted revenue by the Federal Airport Authority of Nigeria (FAAN) between 2014 to 2019.
Chairman of the House Committee on Finance, Hon. James Faleke, made the allegations at a an interactive session with offcicials of FAAN at the National Assembly.
He disclosed that records available to the committee show that FAAN remitted only N9 billion out of the N74 billion it was suppose to pay into the federation account, in the five years under review.
He said the House was committed to ensuring that revenue generating agencies of government make accurate remittances to the federation account as at when due.
“Fom documents available to this committee by FAAN, we discovered that FAAN was supposed to have remitted the sum of N9.48billion but made remittance of N5billion for the year 2014 and similarly, in 2015 same FAAN under paid government over N7billion as it paid N1.145billion as reflected in the federation account.
“But in your books before us, you stated that you paid N2.151billion. All these would need reconciliation if only you make your receipts available to this committee in the next three weeks.
“Meanwhile, in 2016 the actual amount due to Federal Government was supposed to be N11.6billion but you FAAN paid N1.56billion in the federation account. Also in 2017 the actual amount due to federal government was N13.19billion, but you under paid the sum of N1.51billion.
“In 2018 you remitted N1.77billion instead of N14billion and in the year 2019 actual amount due to federal government was N15.49billion but you ended up paying N1.35billion.
“In all, the total sum paid is N9.046 instead of N74.36billion and we want you to give us the reason for this total disregard of the constitutional provision,” Faleke stated.
In his presentation, the Managing Director of FAAN, Mallam Rabiu Hamisau Yadudu said the agency was doing its best to live up the expectation as a regulatory agency, especially managing available resources.
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