Sharing of August revenue allocation stalled

CONTENTIOUS issues between   the Nigerian National Petroleum Corporation (NNPC) and the states of the federation caused the postponement of the meeting of the Federation Account Allocation Committee (FAAC)  scheduled for last Friday in Abuja.
Although the FAAC members, comprising  state commissioners for finance, and auditors general, representative of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), representatives of the Federal Inland Revenue Services (FIRS), Central Bank of Nigeria (CBN), the Nigeria Customs Service, the  Accountant General of the Federation, Chief Jonas Ogunniyi Otunla and the chairman of FAAC, the Minister of State for Finance, Dr  Yerima Lawan Ngama,  were all present to share allocations to the three tiers of government, the FAAC meeting could not hold because of financial imbroglio  involving the petroleum corporation.
Instead of the usual  FAAC meeting, the session was redesigned as an extra-ordinary meeting and was held behind closed doors with the representatives of FIRS shut out for most part of the duration.
Briefing newsmen after the meeting, which lasted more than two hours, the Minister of State for Finance, Dr Lawan explained that the FAAC meeting for September, which is usually held behind closed doors to discuss August allocations, had been postponed till a later date.

He said an extra-ordinary meeting was held to discuss matters involving the NNPC and the state commissioners for finance, adding that a small committee was earlier set up to discuss with the NNPC but was enlarged later, when it could not resolve the issue.
Probed further by reporters to explain the nature of the issue, the minister declined, but added that it was not connected with the N450 billion debt the corporation was owing FAAC.
Representatives of the states, the finance commissioners and the accountant generals were not happy that they could not go to their states with the August statutory allocations and the proceeds of the Value Added Tax ( VAT).
Speaking on the issue, the chairman of the  finance commissioners forum and Anambra State Commissioner for Finance, Mr Eze Eches, told newsmen after the meeting that they were not happy going back to their domains without the August allocations.

Story:  Nigerian Tribune