ADEOSUN: Nigerian governors hiding information on use of bail-out funds
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ADEOSUN: Nigerian governors hiding information on use of bail-out funds

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The Minister of Finance, Kemi Adeosun, has again cried out over the refusal of several State governors to fully disclose disbursement of bail-out funds given to them as stipulated under the terms of the Fiscal Responsibility Plan.

This was one of the highlights of the press statement released Thursday by Laolu Akande, Senior Special Assistant to the President on Media & Publicity Office of the Vice President, after the National Economic Council (NEC) meeting presided over by Vice President Yemi Osinbajo.

It noted as follows:

“The Minister (Adeosun) disclosed that several States have not been complying with conditions for the Budget Support facility as agreed under the Fiscal Responsibility Plan.

“She added that particular states are yet to publish the mode of their financial disbursement, while some others have also not completed the Biometric Data of their staff list as agreed by the Council.

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“The Fiscal Responsibility Plan endorsed last year by NEC details the conditions State governments are expected to meet to qualify for FG’s Budget Support Facility which ranges from N800m to over N1B per State, per month.”

Laolu then gave a run down of other things that transpired at the meeting. He said, “An update of the ongoing forensic audit of revenue accrued from revenue generating agencies and meant for the Federation Account was given today (Thursday) at the National Economic Council, NEC meeting.

“The Chairman of the Ad Hoc Committee of NEC on the audit, Governor Ibrahim Dankwambo of Gombe State, said the forensic audit is ongoing and assured Council that the full detail of the report would be ready in January, 2018.

“He mentioned the Nigerian Customs Service and the National Communication Commission as the two agencies that are now being audited in a review that has included other agencies including NNPC.

“The report is expected to detail the extent of revenue meant for the Federation but never made it to the Consolidated Account under the past administration.”

 

 

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