Economy
THE Fiscal Responsibility Commission (FRC) says it is strengthening collaboration with regulatory and anti-corruption agencies to address violation of fiscal laws for accountability.
Mr Charles Abana, Acting Chairman of the commission, said this in an interview with the News Agency of Nigeria (NAN) on Monday in Abuja.
Abana said that inter-agency collaboration remained critical to tackling corruption and enforcing fiscal discipline.
He said that the Fiscal Responsibility Act was designed to reduce opportunities for corruption while preventive measures were the primary objective of the law to promote transparency.
“Some individuals still exploit weaknesses within public systems for personal gains. The commission’s enabling law is undergoing amendment at the National Assembly,” he said.
Abana expressed optimism that the amendment process would be concluded in due course.
He said that the commission would continue to rely on collaboration with other agencies pending the amendment.
He said such partnership enables authorities to hold offenders accountable and significantly strengthen enforcement efforts.
The chairman explained that violations under the agency’s law could also relate to fiscal responsibility offences.
“The commission is also collaborating with relevant institutions, which had already amended their law, to develop a framework for joint enforcement actions.
“Offenders could be sanctioned under existing laws where applicable. The efforts will help close enforcement gaps pending amendments to the Fiscal Responsibility Act,’’ he said.
The FRC boss noted that collaboration had become an effective tool for promoting compliance adding that stronger cooperation would improve accountability in public finance management.
He expressed the commitment of the commission to strengthen institutional partnerships to deter misconduct as well as encourage prudent use of public resources for effective fiscal governance.
He said fiscal discipline was essential for sustainable economic growth and effective debt management while checking inflationary pressures.
Abana appealed to government at all levels to embrace prudent spending and transparency in managing public resources, adding that the FRC remained concerned about the cost of governance in Nigeria.
According to him, the commission monitors compliance with fiscal responsibility provisions by government institutions, organises workshops and stakeholder engagements on reducing public expenditure.
“The commission is statutorily empowered to monitor, review and evaluate the audited financial statements of Ministries, Departments, and Agencies (MDAs), to promote transparency and accountability.
“It also assists states and local governments to strengthen fiscal responsibility frameworks and provides technical support to sub-national governments where necessary,” he said.
The chairman emphasised the need for all tiers of government to adopt sound fiscal practices, reaffirming the commission’s commitment in promoting transparency, prudent spending and sustainable debt management in Nigeria.
(NAN)
W.U
June 8, 2026.
Tags: Fiscal Responsibility Commission Mr Charles Abana