Thursday, 28 June 2018 05:06

Again, FAAC meeting ends in stalemate over NNPC remittance

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Federation Accounts Allocation Committee (FAAC) meeting ended in Abuja on Wednesday night without sharing allocations for the month.

No member of the committee agreed to talk to journalists on why they left the meeting without allocations to various tiers of government.

The meeting, attended by Commissioners for Finance and Accountants General from the 36 states of the federation and Federal Capital Territory, lasted two days.

Journalists who waited for several hours for the usual communique issued from FAAC secretariat at the end of such meetings were disappointed when information filtered in that the briefing would not hold.

Spokesperson of the finance ministry, Mr Hassan Dodo, later told journalists the briefing for which he issued the invitations had been cancelled.

“Gentlemen of the Press, I have been directed to inform you that the usual media briefing at the end of FAAC meetings will not hold. Another date will be communicated to you when the committee is ready to brief the Press,” Dodo said.

He refused to take questions from journalists anxious to know why the briefing, which usually presents details of the allocations to the three tiers of government, was cancelled on short notice.

All members of the committee were practically scampering out of the venue of the meeting at Ministry of Finance auditorium apparently to avoid any contact with journalists.

Chairman of Commissioners of Finance Forum of FAAC, Mr Mahmoud Yunusa, told reporters they were breaking to go and consult their principals, the state governors.

He, also, did not say exactly why the meeting ended the way it did.

However, our correspondent overheard a conversation by one of the commissioners about the outcome of the meeting.

“The meeting has ended. But, there is no money to share, because what NNPC brought was incomplete. Now we are going for a meeting with the governors on what next to do,” the commissioner was heard saying.

Since February this year, FAAC meetings had ended in stalemate, with the inability of NNPC to remit enough revenue always cited as reason.

In February, the meeting, convened to consider and approve statutory revenue allocations for the month, ended abruptly.

It took the intervention of finance minister, Mrs Kemi Adeosun, and vice president, Mr Yemi Osinbajo, for representatives of the states and FCT to agree to reconvene the following day to share the N647.39 billion that was available.

Although NNPC and top hierarchy of FAAC, along with finance ministry officials, have met several times to reconcile the revenue shortfall, no report has been issued on what was found.

PT

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