NIMASA Pays N9.975b, $38m Into Consolidated Revenue Fund

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The Nigerian Maritime Administration and Safety Agency (NIMASA) has within one year and one month contributed N9.975 billion to the Consolidated Revenue Fund (CRF). Within this period, the agency has also paid $ 38,272,12.12 million to the CRF, The Nation has learnt.

The agency on June 1, last year paid N5 billion into the CRF as “part payment of operating surplus for 2015 and 2016”. It followed up on June 2, last year with N4.975b “payment made into the CRF 2016 operating surplus”.

The agency paid $ 7 million on November 22, last year as “part payment of 2016 operating surplus”. On April 19, this year, NIMASA made another payment – $ 15 million  – to the CRF.

The agency on July 18 paid $ 16.272.121.12 million into the CRF as “payment of 2017 operating surplus”.

Minister of Finance Kemi Adeosun on September 13 praised the management of the agency, led by Dr. Dakuku Peterside, for shoring up its contributions to the federal purse. She also praised the Joint Admissions and Matriculations Board (JAMB) for contributing N5 billion to the CRF this year, adding that this was a giant leap from the N3 million yearly highest ever contribution from the agency.

She did not give the amount contributed by NIMASA.

Mrs. Adeosun, who spoke at a workshop in Abuja on compliance with the Fiscal Responsibility (FRA) Act, said the management of NIMASA brought down operational cost and was able to generate more money by half year than it did in the two preceding years.

”Unlike NIMASA and the Joint Admission and Matriculation Board (JAMB), some Agencies and Departments are operating in such a manner that returned minimal funds to government. To this effect, a circular has been issued restricting allowable expenses in line with reforms occurring across government businesses, as compliance checks would be undertaken regularly to ensure that all Agencies and Departments adhere to the new requirements.”

The Accountant General of the Federation (AGF), Mr. Ahmed Idris, also said despite the general downturn in accruable revenue to government due to the economic situation, the remittances to the CRF by NIMASA this year had been the highest by the Agency in recent years.

“It was also the first time in recent years that NIMASA will remit huge revenue into the government coffers,” he said.

For 2015, NIMASA’s contributions to the CRF was only N2 billion and $ 15m. There was also the payment of $ 24,025, 017.90, described as “direct debit by CBN on NIMASA accounts”. About half of 2015 was under the Dr. Goodluck Jonathan administration. President Muhammadu Buhari appointed Peterside as director-general on March 10, 2016.

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