Nigeria: Minister summons FAAC meeting for Wednesday, to meet NNPC GMD

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WorldStage Newsonline– Nigeria’s Minister of Finance and Chairman of the Federation Account Allocation Committee (FAAC), Mrs. Kemi Adeosun, has reconvened the meeting of the Committee for Wednesday, 28th March, 2018 at 9:00am to resolve the dispute that led to its adjourmant on Tuesday without sharing the federation allocation the three tiers of government on Tuesday.

The meeting was stalled due to belief that the revenue figure presented by Nigeria National Petroleum Corporation (NNPC) was inaccurate.

According to a statement, the meeting called by Adeosun will hold at the Auditorium of the Federal Ministry of Finance and will be attended by the Accountant General of the Federation, Mr. Ahmed Idris; Commissioners of Finance and Accountant-Generals of the 36 States and representatives of the Nigerian National Petroleum Corporation (NNPC), Federal Inland Revenue Service, Nigeria Customs Service, Department of Petroleum Resources, among others.

“The Minister has also called for an emergency meeting next week with the Group Managing Director of NNPC, Mr. Maikanti Baru, and key management over revenue payment into the Federation Account,” the statement said.

Speaking after an abrupt stoppage of the meeting today, Accountant General of the Federation, Ahmed Idris, told journalists that meeting was inconclusive because some issue around reconciliation of figures were on the table.

He said, “We observed some issues on the figure given by one of the major revenue generating office by NNPC, and the meeting is of the opinion that until and unless this figure is reconciled, corrected, verified and factual, we cannot distribute the revenue as the case is.”

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