The Director General of the Security and Exchange Commission (SEC), Dr. Lamido Yuguda has been queried by the Senate’s Joint committee on Finance and National Planning on false N10billion spent on salaries of less than 600 staffs of the agency on yearly basis .
This followed a series of questions from members of the commitee led by Senator Solomon Olamilekan Adeola ( APC Lagos West), who ordered the agency to immediately remit N300million into the Consolidated revenue fund ( CRF), on or before Thursday next week .
Trouble started when DG SEC, in his submission before the committee on revenue projections for the 2021 budget , said out of N4billion revenue generated by SEC in 2019, only N86.835million was remitted into the Consolidated Revenue Fund CRF.
The members of the committee thereby expressed shock by the wide gap between revenue generated and remittance made , Senator Adeola thereafter sought for clarifications from the Accountant General of the Federation ( AGF ) , Ahmed Idris , on the performance index of SEC.
The AGF in his response said ,the N86.835million remitted into CRF by SEC in 2019 from the N4billion revenue generated , was outrageously low.
Ahmed Hassan Ahmed for CIN
