The Accountant General of the Federation informed the lawmakers that the previous administration awarded a contract for a collection portal, but the portal is not in use.
The House of Representatives Public Accounts Committee (PAC) has issued a 60-day ultimatum to the Ministry of Finance and the Office of the Accountant General of the Federation to implement the automation of foreign currency collection in Nigeria's foreign missions.
The committee, chaired by Bamidele Salam, gave this directive on Tuesday when the Accountant General of the Federation, Oluwatoyin Madein, appeared before it for an inquiry into revenue collection by foreign missions.
Mrs Madein informed the lawmakers that the previous administration had awarded a contract for a collection portal, but the portal is not currently in use.
She stated that a private company, Files Solutions Limited, was awarded a contract for the automation of foreign currency collection at Nigeria's foreign missions worldwide, valued at N83.6 million, on 28 April 2021, for five years. The contract included a commission of 1-5 per cent, depending on the amount the company could collect.
Mrs Madein noted that 90 per cent of the contract sum had been paid to the contractor for the project, and the work had been completed.
"The Automation of Foreign Currency Collection portal was launched on 25 May 2023 by the immediate past minister of finance but has not yet been put into use.
"Our office is in the process of obtaining approval from the ministry of finance to deploy the software, which has been tested. Discussions are ongoing with the ministry of foreign affairs to provide a list of foreign missions for pilot purposes," she said.
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Meanwhile, the Managing Director of File Solutions Limited, Nekan Olateru, stated that the company had completed all the processes on the technology over the last three years.
Subsequently, a member of the committee, Sunday Umeha, moved a motion that the ministry of finance, ministry of foreign affairs, and the accountant general should commence the immediate collection of revenue using the automated platform within 60 days. The motion was adopted unanimously by the committee members.
The committee also directed Mrs Madein to submit records of the gross revenue generated by all foreign missions in the last five years.
Nigeria has about 219 missions across the world, with some earning revenue through consular services.
