Senate orders NAFDAC, Ogun-Osun River Basin to reconcile accounts, threatens budget sanctions 

The Senate through its Committee on Finance, Wednesday, directed the National Agency for Food and Drug Administration and Control (NAFDAC), the Office of the Accountant-General of the Federation (OAGF) and the Fiscal Responsibility Commission (FRC) to reconcile discrepancies in revenue deductions from NAFDAC.

This was as it gave the Ogun-Osun River Basin Development Authority (OORBDA) 14 days to regularise its financial records or face sanctions, including the suspension of budget releases.

The committee issued the directives during an investigative hearing on the remittance of Internally Generated Revenue (IGR) and operating surplus by Ministries, Departments and Agencies (MDAs) into the Consolidated Revenue Fund (CRF) for the 2023–2025 financial years.

Chairman of the committee, Senator Sani Musa (Niger East), said the reconciliation became necessary after conflicting figures emerged between NAFDAC and the Fiscal Responsibility Commission over deductions from the agency’s operating surplus.

NAFDAC presented figures showing that it generated N18.73 billion in 2023, N29.85 billion in 2024 and N39.6 billion in 2025, reflecting a steady increase in its internally generated revenue.

The agency’s director-general, Prof. Mojisola Adeyeye, told lawmakers that although NAFDAC had remitted about N3.9 billion as operating surplus between 2007 and 2023, changes introduced under the Treasury Single Account (TSA) policy in January 2024 had created financial challenges.

She stated that the adoption of a zero-balance TSA arrangement resulted in deductions being made from the agency’s revenue before it could access the funds, leaving it unable to meet some of its financial obligations.