Reps order NECO to pay over N6bn to FG

The House of Representatives Committee on Finance has frowned at the level of indebtedness of the Nigerian Examination Council (NECO) to the federal Government through shortfall of the remittances of its operating surplus from 2014 to 2019.

According to the chairman of the committee, James Abiodun Faleke at a hearing on the matter on Wednesday, NECO is owing the Federal Government N6.6bn in unremitted surplus.



The drama began when Dr. Jacob S. Ekele, who represented the Chief Executive Officer of NECO, Mr. Abubakar Gana was asked how much the organisation has remitted to government coffers for the years 2014 to 2018

Ekele said they remitted N6million to the federal government coffers.

This prompted Faleke to ask what was the initial sum from which the N6 million was removed from.

“N6 million is 20 percent of X, what is X?,” Faleke said putting the session into an exam-like atmosphere.

But the committee discovered that NECO made N6. 18 billion for the year 2014 of which N6 million only was remitted as 20 percent of operating surplus.