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FISCAL RESPONSIBILITY COMMISSION
The Commission generated the revenues through interests on capital, dividends, and rental incomes, as captured by the Fiscal Responsibility Act of 2007
In line with the provisions of the Fiscal Responsibility Act, the DMOs were directed to not give loans to states without FRC approval.
All the 36 states of the federation contravened the guidelines of the DMO by contracting debts exceeding their 12-month revenues.
Chairman, Fiscal Responsibility Commission, Chief Victor Muruako has revealed that a total of 122 agencies are now required...