BEVERLY HILLS, April 26, (THEWILL) – The governors of the 36 states of the federation were on Wednesday locked in a crucial meeting with top officials of the Nigerian National Petroleum Corporation (NNPC) following the aborted Federation Account Allocation Committee (FAAC) meeting for March.
THEWILL recalls that Chairman, Finance Commissioners Forum of FAAC, Yunusa Mahmoud, had earlier told reporters that the meeting of the committee scheduled to share the revenue for March had been cancelled.
Mahmood said the cancellation of the meeting followed some challenges linked to poor revenue returns remitted by the NNPC.
“The meeting cannot hold because we have some challenges,” Mahmood had said.
“The revenue figures we got for the month is far less than what we expected to be remitted by the NNPC.”
THEWILL also recalls that last month, the meeting ended in a stalemate, as the committee opted not to share the amount remitted to the purse by the NNPC following alleged discrepancies discovered in revenue figures presented by the NNPC.
Hours after the inconclusive meeting, the finance minister, who is also Chairman of FAAC, Kemi Adeosun, convened an emergency reconciliation meeting the following day to attempt to resolve the confusion.
There are no immediate indication when Wednesday’s cancelled FAAC meeting would be rescheduled leading to anxiety as governors are unsure where the money for their workers salaries for the month is going come from.
About the Author
