Home Business Special Concession Account, SCA For PPP Has Generated Over N2 Billion For...

Special Concession Account, SCA For PPP Has Generated Over N2 Billion For FG -ICRC Reveals

The Federal Government has announced that the Special Concession Account (SCA) for Public-Private Partnerships has a net N2,400,689,340 with the Central Bank of Nigeria.

The Presidency disclosed this in her social media statement on Thursday.

Giving the details from the regulatory body Infrastructure Concession Regulatory Commission, ICRC, in charge of Public-Private Partnership (PPP) transactions, the Federal Government said;

“The Special Concession Account (SCA) has become operational and has within a few months of its operation, yielded the sum of N2,400,689,340.00 (Two billion Four Hundred Million Six Hundred and Eighty-Nine Thousand Three Hundred and Forty Naira) which has duly reflected in the Special Concession Account (SCA) with the Central Bank of Nigeria.”

Engr. Chidi Izwah, who is the Director-General of Infrastructure Concession Regulatory Commission, ICRC, reveals that part of the objectives of the SCA is to make available and open the receipts of all PPP payments in the nation to promote a transparent record, remain accountable, and also make the receipts available for probity in case the need arise.

“Presently, the revenue accruing to the government via concession and PPP arrangements is not known, and this may lead to abuse and leakages by Ministries Departments & Agencies (MDAs) and Concessionaires,” Izuwah said.

Source: kemifilani.ng

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