THE Senate Ad-hoc Committee on alleged misuse, under-remittance and other fraudulent activities in revenue collection has revealed that many agencies of the Federal Government shortchanged it to the tune of N1.7 trillion through under remittance between 2012 and 2016.
According to the Senate, the N1.695,585,887,406 reportedly lost by the Federal Government during the period under review is from N21.5 trillion generated by 93 agencies covered.
The committee also in its report, which was laid last Thursday and billed for consideration this week, disclosed that the Nigerian National Petroleum Corporation, NNPC, which is one of such revenue generating agencies, ran at a deficit of N3.1 trillion during the period under review.
In the 32-page report, obtained yesterday, 25 of the entire 93 revenue generating agencies covered, were alleged to have defrauded the Federal Government of N1.7 trillion.
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