₦6bn sec income generation: REPS tackle accountant general on remittance records


Members of the House of Representatives have tackled the office of Accountant General of the Federation for failing to provide evidence of 25 percent of the N6 billion internally revenue generated by Securities and Exchange Commission (SEC) for 2020 fiscal year.

The lawmakers expressed the concerns during the interactive session with SEC Director General, Lamido Yuguda on the review of the 2020 to 2022 budget defence and 2023-2025 Medium term Expenditure Framework (MTEF) and Fiscal Policy paper (FPP).

While responding to inquiry on the evidence of the 25 percent remittance of the N6 billion revenue generated in 2020, the SEC director general said the money is deducted from the source automatically, adding that the system is too effective.

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