28 March 2018, Sweetcrude, Abuja – The monthly Federal Account Allocation Committee (FAAC) meeting, which began on Tuesday was inconclusive due to discrepancies of about N37.76 billion in revenue presented by the Nigerian National Petroleum Corporation (NNPC).
The Accountant-General of the Federation, Mr. Ahmed Idris, told journalists in Abuja, that the meeting was inconclusive because of irregularities in figures presented by the NNPC.
He said, “Obviously, you are all aware that anything that has to do with federation revenue is statutory and, therefore, constitutional and we must always verify our figures to the last kobo.
“Failing to do so will amount to committing illegality and unconstitutionality. It is on this note that we observe some issues in the figures given by one of the major revenue generating agencies namely the NNPC.”
According to him, “The committee is of the opinion that until and unless these figures are reconciled, corrected, verified and factual; we cannot distribute the revenue as the case is.
“Let me again be quick to inform Nigerians that we are sensitive with the issue and to the fact that state governments may find it difficult without this money.
“But we have to follow the constitution and the laws for distribution of revenue,” he said.
Also, the Chairman, Forum of FAAC Commissioners, Mr. Mahmoud Yunusa, said the forum rejected the amount presented by the NNPC because it was far lower than what was projected for the month.