The Secretary to the Government of the Federation (SGF), Senator George Akume, has reaffirmed the Federal Government’s commitment to strengthening the Fiscal Responsibility Commission (FRC), pledging sustained support for reforms aimed at deepening fiscal governance, transparency and accountability across public institutions.
Speaking during a courtesy visit by the Acting Chairman and Chief Executive Officer of the Fiscal Responsibility Commission, Barrister Charles Chukwuemeka Abana, and members of the Commission’s management team to his office in Abuja, Senator Akume commended the Commission’s contributions to advancing the Renewed Hope Agenda of President Bola Ahmed Tinubu, GCFR.
The SGF particularly praised the Commission’s advisory role in promoting prudent management of public resources and its collaboration with anti-corruption and oversight institutions to strengthen accountability, transparency and institutional integrity.
“There is light at the end of the tunnel,” Senator Akume said, assuring the Commission of his support in addressing its institutional challenges while wishing Barrister Abana a successful tenure as Acting Chairman.
Earlier, Barrister Abana said the visit was to formally notify the SGF of his assumption of office and brief him on reforms initiated to reposition the Commission for more effective implementation of its statutory mandate.
He disclosed that the Commission had embarked on a comprehensive reform agenda focused on improving operational efficiency, strengthening fiscal oversight and enhancing institutional performance.
According to him, one of his first actions upon assuming office was a familiarisation tour of all directorates and units of the Commission to assess ongoing activities, identify operational challenges and engage members of staff.
“The exercise provided valuable insights into our institutional strengths, operational gaps and areas requiring urgent intervention. It has also reinforced a culture of accountability, professionalism and results-driven service delivery across the Commission,” Abana said.
The Acting Chairman revealed that the Commission has intensified revenue monitoring and enforcement of compliance with the Fiscal Responsibility Act, 2007, particularly among Government-Owned Enterprises (GOEs) and other revenue-generating Ministries, Departments and Agencies (MDAs).
He explained that the initiative is aimed at improving transparency in revenue reporting, ensuring timely remittance of operating surplus into the Consolidated Revenue Fund and reducing revenue leakages.
Barrister Abana disclosed that the Commission facilitated remittances of about ₦1.84 trillion from operating surplus and internally generated revenue as of September 2025.
Despite lower revenue performance between January and May 2026, he said the Commission had already recorded over ₦760 billion in remittances from operating surplus and other independent revenues.
“The Commission is targeting ₦2.5 trillion in independent revenue for 2026,” he stated.
Abana further announced that the Commission has completed a revised Operating Surplus Computation Template incorporating the provisions of the Finance Act 2020 and other extant financial regulations, adding that the template is currently being automated to strengthen evidence-based fiscal oversight and improve public financial management.
He disclosed that the revised template would be officially presented on July 28, 2026, in Abuja, and appealed to the SGF to deliver the keynote address at the event.
The Acting Chairman also highlighted the unveiling of the Commission’s 2026–2028 Strategic Plan, which aligns with the Federal Government’s Renewed Hope Agenda through institutional reforms, stakeholder engagement, capacity building, international collaboration and the adoption of global best practices in fiscal governance.
He noted that the Commission had also successfully held its 2026 Management Retreat to review ongoing programmes, identify emerging fiscal governance challenges and develop strategies for improved service delivery.
Barrister Abana further disclosed that the Commission is developing the second edition of the Fiscal Responsibility Measurement Index (FRMI), a performance assessment tool designed to measure compliance with fiscal responsibility principles and support the oversight responsibilities of the National Assembly through objective fiscal performance data.
He added that the Commission has strengthened collaboration with key accountability institutions, including the Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and Other Related Offences Commission (ICPC), Code of Conduct Bureau (CCB), Bureau of Public Procurement (BPP) and the Office of the Auditor-General for the Federation to improve information sharing, coordinated oversight and enforcement of fiscal responsibility laws.
According to him, the Commission has also reached an agreement with the EFCC and ICPC to refer cases involving clear financial breaches for investigation and prosecution under their respective enabling laws.
Barrister Abana reiterated the Commission’s commitment to amending the Fiscal Responsibility Act, 2007, noting that evolving fiscal realities over nearly two decades necessitate a review of the legislation.
He explained that the proposed amendments would strengthen compliance mechanisms, improve enforcement powers, enhance transparency obligations and align Nigeria’s fiscal responsibility framework with international best practices.
The Acting Chairman appealed to the SGF to support the amendment process, noting that the Commission is already working closely with the Office of the Attorney-General of the Federation on a draft amendment bill.
He also sought the SGF’s intervention in addressing critical institutional needs, including the provision of a permanent office accommodation, replacement of personnel lost through retirement, resignation and death, acquisition of operational vehicles and digital forensic investigation tools to enhance the Commission’s operational capacity.
Barrister Abana reaffirmed the Commission’s commitment to supporting the Federal Government’s Renewed Hope Agenda by promoting fiscal sustainability, revenue optimisation, accountability and efficient public service delivery.
