FRC Wants States To Domesticate Fiscal Responsibility Law

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Nigeria

By; PETER NOSAKHARE, Kaduna


Chairman of the Fiscal Responsibility Commission (FRC), Victor Muruako, has called on the federating states to domesticate the Fiscal Responsibility Law.
Speaking with newsmen on Wednesday in Abuja, Muruako noted that it became imperative to adopt this policy in order to consolidate the sterling principles of accountability and transparency in fiscal operations, and within a viable framework.
The Fiscal Responsibility Act 2007 is primarily designed to checkmate wastage and corruption, whilst ensuring accountability in the management of public finance.
Muruako, who cited the adoption of the policy in Sokoto, following its safe passage into law in 2020, also disclosed the commission’s readiness in providing technical assistance to the federating states, who had been properly engaged on the necessity of incorporating the fiscal responsibility policy into state laws.
He, however, expressed concern over the non-establishment of fiscal responsibility agencies in some states that have adopted the law, claiming the commission would not take a chill pill on pressing further to see to a streamlined fulfilment of this propitious policy in the interest of national financial security.
“We will keep encouraging them, we will keep running after them and we will keep reaching out.”

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