NewsExpress advert FCMB banner Fidelity bank banner NewsExpress advert
Revenue discrepancies: FAAC meeting fails to hold again

By Folasade Folarin on 26/04/2018

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 384

 The Federation Account Allocation Committee (FAAC) meeting scheduled to hold on Wednesday in Abuja, was postponed due to revenue discrepancies.

Mr Mahmoud Yunusa, Chairman, Forum of Finance Commissioners of FAAC, who disclosed this to newsmen in Abuja, said the postponement was unfortunate.

He said it was the second consecutive month that the Nigerian National Petroleum Corporation (NNPC) would not be honouring its statutory obligations to the federation account.

Yunusa, however, said that to resolve the discrepancies, a meeting had been scheduled between the NNPC and the state governors.

“We have some challenges; the figures we have gotten is far less than what was expected to be remitted by NNPC.

“As it is now, there is a meeting between the governors and the top management of NNPC at the villa.

“I believe this is a very high level deliberation and something good will come out of it.”

Yunusa who is also the Commissioner of Finance, Adamawa State, said in view of the current revenue challenges, it had become imperative for the corporation to become more transparent on how its operations are run.

“There are processes to be followed and before now, you do not get to hear such news, because whatever issue there is, you deliberate on it.

“However, because this government is a government of change, some level of transparency is expected.

“When you pick your figures and submit them, the person that is supposed to look at it and deliberate on it will ask questions if need be.”

Yunusa also said he did not know if the revenue underpayment by the NNPC was a deliberate attempt to short change the three tiers of government, adding that what happened could be an error.

“I don’t want to use the word insincerity, because if one party is wrong, the other party is right and if you add it together at the end of the day you make progress.

“Last FAAC was postponed twice and at the end of the day we made progress.

“That was during Easter break and in the spirit of Easter we held a meeting even though we were looking at the plight of the workers that were supposed to receive their salary when due.

“Based on the submission we have now, some states cannot pay salary now.

“So what we are doing now is to table a lot of the issues and that is why the matter is being discussed at the highest level now.” (NAN)

Source News Express

Posted 26/04/2018 12:57:53 PM


Share on facebook Yahoo mail icon Gmail icon Share on Google+



REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...


You may also like...
Sack Air Chief Marshal Badeh and Prof. Jega...

Explosion shakes Awka polling unit

U.S., Nigerien troops launch offensive after deadly attack...

Nigerian UN worker arrested for robbing banks in...

FG warns on harmful practices against children

BILL GATES HAILS PETER OBI •Anambra Gov’nor bags...

Strike: ASUU shuns meeting with FG

Assets recovery: FG asks court to stop Ekweremadu...

Release Kanu or be ready for violence —Biafra...

Nigeria retains 47th position in latest FIFA rankings...

Aregbesola defends ‘no primary school certificate, no salary’...

NiMET predicts sunny and hot weather in the...


Latest News Rethinking Nigeria’s development with Bill Gates, Okonjo-Iweala, By Adele Adeniji Still on Buhari’s verdict on Nigerian youths, By Jerome-Mario Utomi Armed bandits abduct housewives in Kaduna Cybercrime: UK sends 2 Nigerians to prison Brave worshippers capture suicide bomber inside mosque 41 items still banned under Nigeria-China currency swap deal – CBN Pope Francis unveils 14 new cardinals, no Nigerian on the list Anambra to revive over 200 skill acquisition and entrepreneurial centres New HIV infections among pregnant women raise concerns Why Okorocha wants Nwosu to be Imo Governor in 2019, By Collins Ughalaa Certificate Scandal: HEDA asks SFU to investigate Senator Omisore dumps PDP for SDP ahead of 2019


Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (344,940 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (341,563 views) Shameless Genevieve Nnaji exposes breasts in public (273,078 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (224,501 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (204,978 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (202,475 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (176,694 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (159,000 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (150,033 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (143,166 views) Lagos plane crash: Journalist releases victims’ names (139,830 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (132,240 views)


Categories Advertorials (3) African Press Organisation (81) Art & Literature (40) Business & Economy (3,136) Business Verdict (43) Columnists (853) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (497) Features (594) Global Business Monitor (273) International (1,964) Interview (149) Live Commentary (28) Love Matters (119) News (35,442) Opinion (953) Pidgin (10) Politics (5,021) Religion (742) Sports (1,512) Stock Watch (28) AMA & Al Jazeera Global Update


CBN banner

Firstmobile banner




Boko Haram commanders surrender


APO Group Partner




REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

GOCOP Accredited Member

GOCOP Accredited member



Africa Media Agency and Al Jazeera