FRC Intensifies Collaboration with N’ Assembly to Amend Fiscal Responsibility Act

*Fiscal Responsibility Index studies for MDAs underway

Ndubuisi Francis in Abuja

The Fiscal Responsibility Commission (FRC) has intensified collaboration with the National Assembly to amend the Fiscal Responsible Act (FRA), 2007 which seeks to promote prudent resource management, ensure macroeconomic stability, and secure greater accountability in public spending.

FRC acting Chairman, Charles Chukwuemeka Abana, who disclosed this when he paid a courtesy visit to the Permanent Secretary, Federal Ministry of Finance, Mr. Raymond Omenka Omachi, noted that although the Act contains several offences, many lack corresponding sanctions, and therefore, need to be strengthened.

According to him, the commission is currently collaborating with the Federal Ministry of Justice to strengthen the Act, and ensure more effective implementation.