DAILY POST
For lacking consistent financial records, the Nigerian Senate on Monday knocked the Nigerian Agricultural Insurance Commission (NAIC).
The commission has been unable to provide details of its finances―from 2021, 2022, and up to the third quarter of 2023―requested by the Senator Sani Musa-led Senate Committee working on the Medium Term Expenditure Framework.
Committee members at an interactive session on Monday with officials of NAIC expressed discontent at the antics of the commission over its inability to produce receipts for expenditures of its revenues generated.
NAIC claimed to have spent revenues it generated, while some amount tagged “surplus” was transferred into the Federal Government account.
In a document submitted to the committee, the MD and CEO of NAIC, Mrs Folashade Joseph, while presenting the corporation’s 2024 Revenue, Overhead, and Capital Projections, told the panel that the agro-insurance outfit transferred N3, 847, 202, 032.03 to the Consolidated Revenue Fund (CRF) of the federal government in 2023.
