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More States Get FG’s Bailout

Posted: Sep 17, 2015 at 6:52 pm   /   by   /   comments (0)

By Chesa Chesa, Abuja ?


The ?Federal Government’s revenue-generating agencies being investigated by the National Economic Council (NEC) have been indicted for ?lack of transparency and accountability in their operation of government accounts.

The agencies being investigated include the Nigeria National Petroleum Corporation (NNPC); Nigeria Customs Service; Federal Inland Revenue Service (FIRS); ?Nigeria Ports Authority (NPA), among others.

The indictment was contained in a preliminary report turned in by the NEC’s ad hoc committee on the probe of remittances ?to the Federation Account by the agencies.

The sub-committee?, chaired by Edo State governor, Adams Oshiomhole, found that there were no checks and balances in the manner the agencies remitted their revenue to the government treasury, thus giving room for underhand practices and corruption.

These disclosures were made to journalists by the Governor of Oyo state, ?Abiola Ajimobi, flanked by his counterparts from Benue, Delta and Kano states, after the NEC meeting at the Presidential Villa, Abuja, on Thursday.

“The committee interacted with revenue-generating agencies of the Federal Government and it was established among others that there was lack of transparency and accountability in the operation of the Federation Account.

“Secondly, they also told the Council that the work of the

committee is ongoing, so we still have more reports to receive from them.

“The engagement of the audit firms is essential and the

terms of reference have already been finalised with the

audit firms”, Ajimobi said. ?

The NEC meeting, which was ?chaired by Vice President Yemi Osinbajo?, also learnt from the Accountant-General of the Federation that Nigeria’s Excess Crude Account as at September 15, 2015 stood at $2.25 billion.

?From the Debt Management Office (DMO) came the disclosure that about N500 billion was involved in the debt rescheduling for state governments seeking financial bailout from the Federal Government.

Ajimobi explained that so far, ?26 states have applied for the debt rescheduling out of which 11 have completed the requirements; while 13 states are in the second phase. ?

?Meanwhile, the Federal Government has paid N13

billion ?to 13 states, which applied for refund on federal

roads rehabilitated by them. A total of N535 billion is

being demanded by 21 states for road repairs.

Ajimobi said: “?We discussed the issues of the

current and future agricultural policy direction.

“The Permanent Secretary (Ministry of Agriculture) made a very lucid presentation and it was extensively discussed and he gave us information on database of farmers in proceeds production capacity of food storage and grains increased fertilizer.

“He told us specifically that fertilizer used by farmers

increased by over 271 per cent, which was commendable, but the conclusion was that there was the need for more interaction with the states and local governments and their approach in agriculture should be bottom-top approach.”