Monday, Nov 30th 2020 5:16 PM

Market Digest Nigeria


EFCC presents N29.8bn as 2021 budget to National Assembly

The Economic and Financial Crimes Commission (EFCC) on Wednesday presented a budget of N29,861,694,947 billion to the National Assembly for its operations in 2021.

Mohammed Umar Abba

A breakdown of the estimate indicated that N24,407,559,975 billion is earmarked as personnel cost, N3,600,773,354 billion as overhead while N1,853, 361, 618 billion is projected for capital expenditure.

Presenting the budget to the Senate Committee on Anti-corruption and Financial Crimes, headed by Senator Abdul Kwari, the acting chairman of the commission, Mohammed Umar Abba, gave an overview of the performance of the commission’s 2020 budget.

He disclosed that of the total of N32.694 billion appropriated for the commission in the current year, N25.136 billion, representing 76.88 per cent had so far been released.

A breakdown of the figure showed that N21.398 billion was released as personnel cost, N2.100 billion for overhead and N1.638 billion for capital projects.

Abba further disclosed that N18.823 billion, representing 74.88 per cent of the N25.136 billion released had been fully utilized.

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