NECO to remit N1.2 bIllion to Federation Account

The registra National Examination Council (NECO), Prof. Charles Uwakwe, Thursday said the agency would remit N1.2 into the federation account this year.

Prof. Uwakwe stated this in a statement in Abuja on Thursday. He said the agency remitted N820 in two years to the federal government.

According to him, N500 million and N320 was remitted to the government in 2016 and 2017 respectively.

Prof. Uwakwe also disclosed that the National Assembly has urged the agency to improve on its remittance to the federal government.

To achieve this, he said, the agency has started making efforts to improve on the management of its resources.

Prof. Uwakwe said: "We have a mandate to do this therefore, we should be managing the resources that we have very prudently and there is also a bit of pressure on us to be remitting to federation account which we are very cognizant of.

"We are making efforts to ensure that we continue to improve in that respect and therefore prudent management of resources that we have must be our guiding principle.

"We just returned from the defense of our budget in the National Assembly and they have said there is need for us to increase our remittance to the federation account which we have been working on.

"We have improved from N320 million to more than N500 million. We estimate that by next exam we should be able to remit to the federation account about N1.2 billion. And it's appropriate for us to do that.

"People should come to the council for clarification when they have doubts. It is unacceptable because they peddle rumors to the detriment of the council."