Newly-appointed minister of finance, Kemi Adeosun
has raised an alarm over the refusal of President Muhammadu Buhari to
give details of the stolen funds which he said they had seized from
previous government officials.
Mrs Adeosun noted that the president, after revealing that his administration has recovered stolen money from previous government officials, he is yet to give details of the recovery to the federal ministry of finance.
According to The Nation, the finance minister, who was spoke with journalists in Abuja at the end of the monthly Federation Account Allocation Committee (FAAC) meeting in Abuja on Friday, said President Buhari was yet to provide the ministry with details of how much had been recovered but the recovery process was ongoing.
Adeosun did not also say if the recovered loot had been lodged into the federation account to be shared by the three tiers of government or if it was still in a separate government account pending further directive from the president.
The finance minister had raised the issue of the recovered money during the October 2015 FAAC briefing when she revealed that funds available for disbursement at the end of the meeting was more than the amount shared in the previous month, adding that the ministry was working assiduously to increase revenue for the federation.
A total of N473.83billion was shared by the federal, state and local governments at the end of the October 2015 FAAC meeting, a development which is quite differencet from the previous months of falling allocations.
Adeosun, who presided over her first FAAC meeting as a minister, informed that the October 2015, FAAC disbursements, represents an increase of N83.89 billion compared to the N389.93 billion distributed in September.
While informing that the amount shared comprised of revenue from statutory sources made up of N388.59 billion and Value Added Tax, N57.78 billion, she also informed that the statutory allocation to the three tiers of government, was distributed thus: the federal government N191.99 billion, states governments N97.38 billion and local governments N75.07 billion.
Meanwhile, Shehu Garba, the president’s senior special assistant on media and publicity, has listed Nigerian’s gain from Buhari’s numerous foreign trips.
Mrs Adeosun noted that the president, after revealing that his administration has recovered stolen money from previous government officials, he is yet to give details of the recovery to the federal ministry of finance.
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| Kemi Adeosun, Nigeria’s finance minister |
According to The Nation, the finance minister, who was spoke with journalists in Abuja at the end of the monthly Federation Account Allocation Committee (FAAC) meeting in Abuja on Friday, said President Buhari was yet to provide the ministry with details of how much had been recovered but the recovery process was ongoing.
Adeosun did not also say if the recovered loot had been lodged into the federation account to be shared by the three tiers of government or if it was still in a separate government account pending further directive from the president.
The finance minister had raised the issue of the recovered money during the October 2015 FAAC briefing when she revealed that funds available for disbursement at the end of the meeting was more than the amount shared in the previous month, adding that the ministry was working assiduously to increase revenue for the federation.
A total of N473.83billion was shared by the federal, state and local governments at the end of the October 2015 FAAC meeting, a development which is quite differencet from the previous months of falling allocations.
Adeosun, who presided over her first FAAC meeting as a minister, informed that the October 2015, FAAC disbursements, represents an increase of N83.89 billion compared to the N389.93 billion distributed in September.
While informing that the amount shared comprised of revenue from statutory sources made up of N388.59 billion and Value Added Tax, N57.78 billion, she also informed that the statutory allocation to the three tiers of government, was distributed thus: the federal government N191.99 billion, states governments N97.38 billion and local governments N75.07 billion.
Meanwhile, Shehu Garba, the president’s senior special assistant on media and publicity, has listed Nigerian’s gain from Buhari’s numerous foreign trips.
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