Again, FAAC meeting ends in deadlock

The monthly Federation Account Allocation Committee (FAAC) meeting ended in a deadlock yesterday in Abuja.
The FAAC monthly meeting is the forum where money is shared among the federal, states and local governments ended with participants wearing long faces.
Revenue remittance discrepancies continue to disrupt the monthly meeting as States have continuously accused the Nigeria National petroleum Corporation (NNPC) of not remitting all revenue accrued within the month.
Even when the revenues are remitted by the state owned corporation, the other tiers of government find it difficult agreeing with figures.
The corporation has been accused of dishonouring its statutory obligations to the federation account over time.
The meeting originally billed for Friday could not hold as “there was no money to share”, an insider confided in our correspondent.
Chairman, Forum of Finance Commissioners of FAAC, Mr. Mahmoud Yunusa, refused to speak with journalists but said they were going back to confer with the state governors.
However, Director of Press, Ministry of Finance, Mr. Hassan Dodo, said the meeting would reconvene before the end of the week.

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