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Published On: Fri, Jul 13th, 2018

FAAC meeting postponed indefinitely, until NNPC, C’ttee resolve differences

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By Etuka Sunday

The Chairman of Finance Commissioners’ Forum and Adamawa State Commissioner of Finance, Mahmood Yunusa has disclosed that the Federation Account Allocation Committee (FAAC) would not hold until further notice due to the ongoing misunderstanding between the committee and the Nigeria National Petroleum Corporation (NNPC).
The deadlock is the third in a series all in an effort to share the May allocation which should have been done in June.
Mahmood said this on Thursday in Abuja after the meeting was aborted for the third time in a series.
He said that the reason the FAAC meeting is cancelled again “is because we want to strengthen the system to avoid a repeat of this issue in the future. It is not about how much the NNPC has remitted now, it is about putting the necessary things in order to make sure we do not experience this.
“The President is very much interested on this issue and it is on his table now very soon all that need to be done would be done so that every money coming to the federation account will be channeled to the appropriate authority.
“Every money has to go to the federal government account. The moment the system is strengthened, definitely there will be no any problem. There will be no more saying bring more money, the money is shortened or this and that.
“We know that people are facing difficulties, people are in pains, salaries have not been paid by federal government, salaries are owed in a lot of states but this is the sacrifice that all of us must do in order to resolve this under remittance of revenue by NNPC.
“We are all partners in progress – the state’s, local government and the NNPC itself. At the end of the day, NNPC will also appreciate what we are doing now at the end of the day, because if new process are put in place and being operated the way they are supposed to be, nobody will complain and even the NNPC will be off the pressure. But if you are supposed to remit much money into the federation account naturally the much money will come what any agency is able to generate and pay into the federation account, definitely it will come through the entrenched process.”
The chairman of the forum said that once the issue is resolved, there would no be any fight anywhere. “So that is where we are now and I think we are going on the right direction and we are about solving the problem, and we have made a tremendous progress,” he said.
On when next the meeting will hold, the Forum’s chairman said he didn’t know adding that “it is a function of when we will conclude on the issue.
On whether the NNPC is cooperating with the Committee, he said, “it is a matter of law and nobody is above the law. We are not fighting but we are only insisting that the right thing be done.”

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