We have recovered 53.5 billion naira from the MDA debt of 5.3 billion naira – Minister – The Sun Nigeria
Since Uche UsimAbuja
the Minister of Finance, Budget and National Planning, Ms. Zainab Ahmed, said the ministry was leveraging a multi-layered data mining effort to collect huge debts owed to the Federal Government by various ministerial departments and agencies. (MDA).
Speaking at the official launch of Project Lighthouse Debt Analytics and Reporting Platform in Abuja on Monday, Ahmed disclosed that through the project’s consolidation efforts, the government has been able to aggregate monumental debts of around $5.2 trillion. naira owed by MDAs, of which 53.5 billion naira has been recovered in the last 12-18 months.
Project Lighthouse is an initiative that involves using advanced data mining and analysis techniques to identify tax defaulters, establish their tax liabilities, and send notifications to the relevant authorities for necessary action.
According to the minister, the debts were brought to light from aggregated data of over 5,000 debtors in 10 MDAs.
She said: “Working with the Office of the Accountant General of the Federation (OAGF), we have been able to recover the sum of N53.5 billion over the last 12 to 18 months through the integrated information system on Government Financial Management (GIFMIS) as recovery point of contact.
“However, to consolidate the current effort of this project, a debt collection application has been created to be monitored by the new debt collection unit. “The debt collection unit will capitalize on the efforts made by the project consultants to provide the government with up-to-date records on its credit status by harmonizing debt records across all MDAs in the country, giving debtors access to a platform to view and clear debt transparently and secure as well as strengthen the institutional framework for the execution and management of the federal debt recovery plan,” she explained.