The Public Accounts Committee of the House of Representatives has given a 60-day ultimatum to the Ministry of Finance and the Accountant General of the Federation to automate foreign currency collection in Nigeria’s foreign missions.
The Chairman of the Committee, Bamidele Salam, gave the ruling during its hearing on the status of ‘Automation of Foreign Currency Collection in Nigeria’s Foreign Missions,’ held yesterday.
The Automation of Foreign Currency Collection portal is to enable the federal government have control over revenue generated by the country in foreign currency and to ascertain inflow from foreign missions to enthrone accountability and transparency.
The Accountant General of the Federation, Oluwatoyin Sakirat, in her remark at the hearing, said Files Solutions Limited was awarded a contract for the automation of foreign currency collection at Nigeria’s foreign missions worldwide at the contract sum of N83.6 million on April 28th, 2021, for five years in addition to the commission of one to five per cent, depending on the amount the company could collect.
