The Fiscal ResponsibilityÂ Â Â Commission is to collabo rate with the Centre for Social Justice to enhance fiscal transparency and effective budget monitoring This was the outcome of the meeting held between the Fiscal Responsibility Commission led by the Chairman, Alhaji (Dr.) Aliyu Jibril Yelwa and the Centre for Social Justice led by its Lead Director, Eze Onyekpere on Wednesday at the Commissionâ€™s headquarters.
At the end of the fruitful meeting, the two bodies agreed to cooperate on capacity building to ensure effective monitoring of the budgeting and implementing processes. While noting that the Fiscal Responsibility Act was enacted to ensure good governance and due process in fiscal matters, they agreed to collaborate in documenting infractions of the Act as well as point out successes and failures recorded in its implementation.
The Chairman of FRC, Alhaji (Dr.) Aliyu Jibril Yelwa noted that the mandate of the two bodies was similar as it was predicated on ensuring that resources are well utilized in accordance with the law to the benefit of Nigerians.
He assured that the Commission will continue to partner with NGOs and other relevant stakeholders so as to promote transparency and deepen our nascent democracy. He said the Commission has a duty to ensure that the objectives of the Medium Term Expenditure Framework (MTEF) is strictly adhered to by the relevant authorities, adding that the Nigerian public is entitled to know when and how funds are being spent.
The Lead Director of Centre for Social Justice, Eze Onyekere said the Centre is worried by recent reports of borrowings by the government from the World Bank without prior legislative approval as well as the recent claim by a state governor that he could borrow without legislative approval.
He noted that the Ministry of Finance was yet to start the MTEF process for the current year and may miss the end of the second quarter deadline for the submission of the MTEF for the approval of the Federal Executive Council.
He said his Centre is intervening in some Fiscal Responsibility bills pending before state legislatures with a clause by clause analysis and best practices on the way forward.