As N100 Arbitrage Emerges in Nigeria s FX Market, EIU Predicts Return to Dual Exchange Rate By December
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As N100 Arbitrage Emerges in FX Market, EIU Predicts Return to Dual Exchange Rate Before Year-end
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Addis Ababa hosts the biggest finance event of 2017
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Deji Elumoye and Udora Orizu in Abuja
The Senate Committee on Public Accounts has queried the Financial Reporting Council (FRC) over the extra-budgetary expenditure of N258 million on personnel cost in the agency’s budget for 2017 fiscal year.
The Committee chaired by Senator Mathew Urhoghide hinged the query on 2018 Audited Report prepared by the Office of the Auditor General of the Federation (AuGF), which is being considered by the National Assembly.
The query reads: ‘’We observed ,from audit, that the Council incurred the sum of N339,834,586.00 as against N81,245,107.00 contained in the 2017 approved budget. This resulted in an extra budgetary expenditure of N258,589,479.00 on Personnel cost.