The Nigeria Immigration Service (NIS) has failed to submit  its Annual Financial Statements (AFS) to the Fiscal Responsibility Commission (FRC) since 2012.

The Nigeria Immigration Service (NIS) has neglected to present its Annual Financial Statements (AFS) to the Fiscal Responsibility Commission (FRC) beginning around 2012.

The Fiscal Responsibility Act (2007) gives that every administration organization should present its AFS three months after the finish of each monetary year.

Nonetheless, a report “Where could the Money be”? by the Growth Initiatives for Fiscal Transparency (GIFT) Nigeria Project, introduced in Abuja, yesterday, demonstrated that the NIS has defaulted in the accommodation of its AFSs over the most recent 10 years.

The GIFT Nigeria Project is under the Strengthening Civic Advocacy and Local Engagement (SCALE) Project executed by Palladium Group with financing from the United States Agency for International Development (USAID).

The report distinguished a few other central government organizations which were gathered under the “Less than ideal Compliance Category” to include: Solid Minerals Development Fund, Nigeria Bulk Electricity Trading PLC, Federal Mortgage Bank of Nigeria, Abuja Security and Commodity Exchange Commission, National Drug Law Enforcement Agency and National Food Reserve Agency, all of which have not submitted AFSs beginning around 2016.
As per the report, the Administrative Staff College of Nigeria, Gurara Water Management Authority, Nigerian Content Development and Monitoring Board were financially past due of AFSs accommodation starting around 2017.

The Center for Management Development was distinguished as having presented its AFSs to date, as it beat 58 different organizations which had just 2021 AFSs to submit

Itemized investigation of the report showed that 73 organizations had remarkable AFSs between 2018 to 2021; with 19 others having extraordinary AFSs pre-2018.

The Fiscal Responsibility Commission (FSC) does the compromise of records of MDAs in view of the budget reports from the earlier year which they are ordered to distribute most recent toward the finish of the principal quarter of each and every year.

The compromise was intended to prompt the piece of potential deficiencies in settlement to government money vaults by MDAs and attending interest to settle up laid out balances.

Segment 22 of the FRC Act gives, “Despite the arrangements of any composed regulation overseeing the enterprise, every organization will lay out a general Reserve Fund and will designate thereto toward the finish of each monetary year, one-fifth of its working excess for the year.

“The equilibrium of the working excess will be paid to the Consolidated Revenue Fund (CRF) of the Federal Republic of Nigeria, not later than one month following the legal cutoff time for distributing every company’s records.”