FRC Operated Without a Board for More Than 13 Years, Nominee Tells Senate

Abdullahi Saidu, President Bola Tinubu’s nominee to chair the Fiscal Responsibility Commission (FRC) board, told the Senate that the commission had operated without a board for more than 13 years and maintained offices only in Abuja. He said the FRC lacked prosecutorial powers and effective monitoring of operating surpluses, and that a confirmed board would seek changes to the law governing the commission. Saidu pledged stronger monitoring of covered organisations, which are expected to remit 80 per cent of their operating surpluses to the Consolidated Revenue Fund, and said the commission could improve within a year with support from the National Assembly and other stakeholders.