Close Menu

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    LASU Dismisses Senior Lecturers For Misconduct

    July 6, 2025

    Nigerians Should Be Patient, Things Will Be Better Soon – Wike

    July 6, 2025

    Ex- Arsenal Star, Thomas Partey Charged With Rape

    July 4, 2025
    Facebook X (Twitter) Instagram
    Trending
    • LASU Dismisses Senior Lecturers For Misconduct
    • Nigerians Should Be Patient, Things Will Be Better Soon – Wike
    • Ex- Arsenal Star, Thomas Partey Charged With Rape
    • Verghis Takes Over As World Bank Country Director For Nigeria
    • Court Orders Senate To Recall Natasha From Suspension
    • Why Peter Obi Should Be ADC’s Presidential Candidate – Datti
    • ADC: Coalition Leaders Are Gangs Of Failed And Expired Politicians – Wike
    • Sanwo-Olu Mourns As Super Eagles Legend, Peter Rufai Dies At 61
    Facebook X (Twitter) Instagram
    TheScrutinyNG
    Subscribe
    Sunday, July 6
    • Home
    • Politics
    • Business
    • News
      • World News
    • Sports
    • Interviews
    • Opinion
    • Entertainment
    • Columnists
    • ABOUT US
    TheScrutinyNG
    Home » Reps Gives 60-Day Deadline For Automation Of Foreign Currency Collection In Nigerian Missions
    3 Mins ReadJuly 30, 2024

    Reps Gives 60-Day Deadline For Automation Of Foreign Currency Collection In Nigerian Missions

    By Festus AdeloyeJuly 30, 2024No Comments3 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The House of Representatives Public Accounts Committee has given a 60-day ultimatum to the Minister of Finance, Wale Edun and the Accountant General of the Federation, Oluwatoyin Madein, to deploy the automation of foreign currency collection in Nigeria’s foreign missions.

    The Chairman of the Committee, Bamidele Salam, gave the charge on Tuesday, in Abuja at the public hearing on the status of automation of foreign currency collection in Nigeria’s foreign missions.

    The automation exercise is to facilitate the control generated by foreign currencies from embassies by the Federal Government.

    Addressing the committee at the hearing, Madein said that Files Solutions Limited was awarded a contract for the automation of foreign currency collection at Nigeria’s foreign missions across the globe.

    She added that the contract awarded on April 28, 2021, was worth a total sum of N83.6m, apart from a commission of 1-5 per cent depending on the amount the company can collect.

    She added that 90 per cent of the contract sum, amounting to N75.2m has been paid to the contractor.

    Mrs Madein noted that the terms of the contract are to ensure that the collection of revenue from all Nigerian foreign missions is online in real-time, as well as a multi-currency conversion and multi-language web portal.

    She said, “The automation of the foreign currency collection portal was launched on May 25, 2023, by the immediate past Minister of Finance but was never put into use as of June 5 2024.

    “Our office is in the process of obtaining approval from the Ministry of Finance to deploy the software which has been tested.

    “Discussion is ongoing with the Ministry of Foreign Affairs to provide a list of foreign missions for pilot purposes.”

    On his part, the Managing Director of File Solutions Limited, Nekan Olateru said that the company concluded all the processes on the technology in the last three years.

    In his contribution, a member of the Committee, Timehin Adelegbe lamented what he called the lack of transparency in foreign revenue collection, stating that automation would address the challenge.

    In what appeared a demonstration of commitment to get to the root of the issue, a member of the committee, Sunday Umeha moved a motion for compliance with automation within 60 days.

    Following the adoption of the motion, the panel ordered the commencement of automation of foreign currency collection in Nigerian missions within 60 days, without an option for extension.

    The committee further mandated the Accountant General to submit records of the gross revenue generated for all foreign missions in the past five years.

    Author

    • Festus Adeloye
      Festus Adeloye

      View all posts
    Oluwatoyin Madein Wale Edun
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Festus Adeloye

    Related Posts

    Breaking News

    LASU Dismisses Senior Lecturers For Misconduct

    July 6, 2025
    Featured

    Nigerians Should Be Patient, Things Will Be Better Soon – Wike

    July 6, 2025
    Featured

    Ex- Arsenal Star, Thomas Partey Charged With Rape

    July 4, 2025
    Featured

    Court Orders Senate To Recall Natasha From Suspension

    July 4, 2025
    Featured

    Why Peter Obi Should Be ADC’s Presidential Candidate – Datti

    July 4, 2025
    Featured

    ADC: Coalition Leaders Are Gangs Of Failed And Expired Politicians – Wike

    July 4, 2025

    Subscribe to News

    Get the latest sports news from NewsSite about world, sports and politics.

    Editor's Picks

    LASU Dismisses Senior Lecturers For Misconduct

    July 6, 2025

    Nigerians Should Be Patient, Things Will Be Better Soon – Wike

    July 6, 2025

    Ex- Arsenal Star, Thomas Partey Charged With Rape

    July 4, 2025

    Verghis Takes Over As World Bank Country Director For Nigeria

    July 4, 2025
    Latest Posts
    Advertisement
    Facebook X (Twitter) Pinterest Vimeo WhatsApp TikTok Instagram

    News

    • World
    • US Politics
    • EU Politics
    • Business
    • Opinions
    • Connections
    • Science

    Company

    • Information
    • Advertising
    • Classified Ads
    • Contact Info
    • Do Not Sell Data
    • GDPR Policy
    • Media Kits

    Services

    • Subscriptions
    • Customer Support
    • Bulk Packages
    • Newsletters
    • Sponsored News
    • Work With Us

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2025 The Scrutiny. Designed by Design Streams.

    • Privacy Policy
    • Terms
    • Accessibility

    Type above and press Enter to search. Press Esc to cancel.