By Tom Zaneni, Abuja
The House of Representatives has given a 60-day notice to the Ministry of Finance and the Office of the Accountant-General of the Federation to implement an automated system for collection of foreign currencies in Nigeria’s overseas missions.
The House Committee on Public Accounts issued the ultimatum during its hearing on the status of the Automation of Foreign Currency Collection in Nigeria’s Foreign Missions on Tuesday.
The committee said the initiative aims for a comprehensive portal for automating foreign currency collection, allowing the Federal Government of Nigeria to exercise full control over revenue generated in foreign currency.
It is also designed to enhance accountability and transparency by accurately tracking inflows from foreign missions.
Highlighting the concerns over the lack of automation system, a member of the committee, Timehin Adelegbe, said there was no transparency in foreign revenue collection.
He stressed that the automation of foreign currency collection was expected to address issues effectively.
A member of the committee, Sunday Umeha, had moved a motion, saying that the Ministries of Finance and Foreign Affairs and other partners in the contract award for automation of foreign currency collection “should as a matter of urgency commence the immediate collection of revenue, using the automated platform within 60 days.”
Highlighting the concerns over the lack of automation system, another member of the committee, Timehin Adelegbe, while speaking in support, said there was no transparency in foreign revenue collection.
He stressed that the automation of foreign currency collection was expected to address issues effectively.
The committee expressed displeasure over the negligence of the finance ministry, the office of the AG and other actors to implement the technology that will improve the country’s revenue.
It, therefore, unanimously mandated the initiation of an automated system for collecting foreign currency and managing revenue from Nigeria’s foreign missions. This automation must be fully operational within 60 days, with no possibility for extension.
In addition, the House of Representatives Committee on Public Accounts directed the Accountant-General to provide a comprehensive report detailing the gross revenue generated by all foreign missions over the past five years.
The Accountant-General of the Federation, Oluwatoyin Sakirat, had explained that Files Solutions Limited was awarded a contract on April 28, 2021, for the automation of foreign currency collection at Nigeria’s foreign missions.
She said that the contract, valued at N83.6 million, was to last for five years and the firm would receive a commission ranging from one per cent to five per cent, depending on the amount collected by the company.
Sakirat reported that 90 per cent of the payment, amounting to N75.2 million, had been made to the contractor.
She explained, “The contract stipulates that the contractor must develop a system for real-time online revenue collection from all Nigerian foreign missions. This includes creating a multi-currency conversion web portal and a multi-language web portal.
“Although the Automation of Foreign Currency Collection portal was launched on May 25, 2023, by the former Minister of Finance, it has not been utilized as of June 5, 2024. Currently, our office is seeking approval from the Ministry of Finance to deploy the software, which has already been tested.
“Discussions are currently underway with the Ministry of Foreign Affairs to provide a list of foreign missions for pilot implementation.”
