The MD and CEO of NAIC, Mrs. Folashade Joseph, presented the corporation’s 2024 Revenue, Overhead, and Capital Projections to the committee. She stated that NAIC transferred N3, 847, 202, 032.03 to the Consolidated Revenue Fund (CRF) of the federal government in 2023, but contradicted herself by arguing that the organization experienced “huge losses in 2022” and consequently could not remit for the year.
The committee expressed disappointment with NAIC’s performance over the fiscal year and mandated the organization to provide its audited accounts for the years 2021, 2022, and the third quarter of 2023. Furthermore, the committee chairman emphasized the panel’s commitment to “block all loopholes in the accounts of MDAs” and ensure transparency in government finances.
The committee also engaged in discussions with the Nigerian Financial Intelligence Unit (NFIU) and the Equipment Leasing Registration Authority (ELRA).