Politics
Gov. Tambuwal Assents Fiscal Responsibility, Revenue Integration Bill
The Executive Governor of Sokoto State, Aminu Tambuwal, has assented the Fiscal Responsibility, Revenue Integration (FRAC) bill into law.
The bill which was signed into law on Tuesday by the Governor sought among other things, the provision for the establishment of a Fiscal Responsibility Agency in the state.
At its plenary the Sokoto State House of Assembly (SOHA) presided over by its Deputy Speaker Abubakar Magaji had passed the law on the same day.
The governor also signed another law to integrate, harmonize and consolidate all revenues accruing to government ministries, departments and agencies; in order to enable it generate sufficient revenue that could be ploughed into social service and economic growth in the state.
The enactment of both laws, which took effect December 31, 2019, and also signed by the Clerk to SOHA, Abdulrazak Shehu, followed the presentation of two reports regarding the establishment of FRAC and the need to enact the law on revenue integration to the House by Hon. Ahmed Mohammed Malami member representing Sokoto South II constituency.
Also Read:
https://ekohotblog.com/2020/01/02/tuc-describes-2019-as-a-tough-year-for-workers/
Section 2 (vii) of the preliminary provisions of FRAC stipulates that when the agency comes on stream it will “provide full, accurate and timely disclosure of financial information relating to the activities of the Government and its agencies that is ensuring transparency and accountability.”
Equally, sub-section (viii) of the preliminary provision stated that FRAC shall “manage risk faced by the State prudently, having regard to economic circumstances.”
Meanwhile, the revenue integration law, according to its ‘explanatory memorandum’ is to “codify and consolidate various laws relating to the taxes, levies and revenues in the state and establish the Sokoto State Internal Revenue Service.”
Advertise or Publish a Story on EkoHot Blog:
Kindly contact us at [email protected]. Breaking stories should be sent to the above email and substantiated with pictorial evidence.
Citizen journalists will receive a token as data incentive.
Call or Whatsapp: 0803 561 7233, 0703 414 5611
