The public accounts Committee of the House of Representatives has given a 60-day ultimatum to the Ministry of Finance and the Accountant General of the Federation to automate foreign currency collection in Nigeria’s foreign missions.
The Chairman of the Committee, Hon. Bamidele Salam, gave the ruling during its hearing on the status of ‘Automation of Foreign Currency Collection in Nigeria’s Foreign Missions,’ held on Tuesday.
The Automation of Foreign Currency Collection portal is to enable the federal government to have control over revenue generated by the country in foreign currency and to ascertain inflow from foreign missions so as to enthrone accountability and transparency.
The Accountant General of the Federation, Mrs. Oluwatoyin Sakirat, in her remark at the hearing, said 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 N83.6 million on April 28th, 2021, for five years in addition to the commission of one to five per cent, depending on the amount the company could collect.
Sakirat, said 90 per cent which totalled N75.2 million of the payment had been paid to the contractor and the terms of the contract with the contractor was to ensure that the collection of revenue from all Nigerian foreign missions was online in real-time, as well as a multi-currency conversion web portal and multi-language web portal.
She explained, “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.”
According to the Managing Director of File Solutions Limited, Prince Nekan Olateru, while speaking said the company concluded all the processes on the technology in the last three years
Hon. Timehin Adelegbe, who is a member of the Committee noted that there was lack of transparency in foreign revenue collection, which the automation of foreign currency collection would correct.
Another member of the Committee, Hon. Sunday Umeha moved a motion that the Ministry of Finance, Ministry of Foreign Affairs, Accountant General and other actors in the contract award for Automation of Foreign Currency Collection and Nigeria foreign missions should as a matter of urgency commence the immediate collection of revenue, using the automated platform within 60 days.
The Committee while expressing displeasure over the Ministry of Finance, the Accountant General, and other actors’ negligence towards the technology that would improve the Country’s Revenue unanimously ordered the commencement of Automation of Foreign Currency Collection and Nigeria’s foreign missions revenue using the automated platform within 60 days without an option of extension.
The Committee further ordered the Accountant General to submit records of the gross revenue generated for all foreign missions in the last five years.
Juliet Akoje
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