The Economic and Financial Crimes Commission, EFCC, on Wednesday, November 4, 2020, presented a budget of N29,861,694,947 billion (Twenty-nine Billion, Eight Hundred and Sixty-one Million, Six Hundred and Ninety-four Thousand, Nine Hundred and Forty-seven Naira) to the National Assembly for its operations in 2021.
A breakdown of the estimate indicates that N24,407,559,975 (Twenty-four Billion, Four Hundred and Seven Million, Five Hundred and Fifty-nine Thousand, Nine Hundred and Seventy-five Naira) is earmarked as personnel cost, N3,600,773,354 (Three Billion, Six Hundred Million, Seven Hundred and Seventy-three Thousand, Three Hundred and Fifty-four Naira) as overhead, while N1, 853, 361, 618 (One Billion, Eight Hundred and Fifty-three Million, Three Hundred and Sixty-one Thousand, Six Hundred and Eighteen Naira) is projected for capital expenditure.
Presenting the budget to 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, N25.136billion, representing 76.88 percent has so far been released.
A breakdown of the figure shows 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 percent of the N25.136 billion released has been fully utilized.