Connect with us

News

States Kick Over N200b FAAC Remittance Shortfall

Published

on

...Accuse NNPCL of making ‘incomplete’ payments

…Experts reconciling subsidy outlay ahead next meeting

The Forum of Commissioners of Finance under the Federation Account Allocation Committee (FAAC) is demanding immediate action from the Nigerian National Petroleum Company Limited (NNPCL) on the remittance of about N200 billion to the Federation Account.

The forum said the NNPCL has made only one incomplete remittance of less than N200 billion to the Federation Account since October 2024.

Dispute between the states and the organisation is blamed for the inability of FAAC to convene for its monthly meeting last week.

Advertisement

It is understood that both parties are in touch to resolve the issue.

READ ALSO: FAAC: FG, States, LGs Share N1.7tn November Revenue

Chairman of the Forum, Akin Oyebode, told The Nation that “Subsidy ended in October 2024. Since then, NNPCL has only made one incomplete payment of under N200 billion to the federation.”

Advertisement

Oyebode said states and local governments need more resources to fulfill their obligations.

He explained that NNPCL is responsible for three types of payments: royalties to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), taxes to the Federal Inland Revenue Service (FIRS) and dividends to the federation as its shareholder.

Due to NNPCL’s irregular remittances, a reconciliation of subsidy arrears is underway to determine whether the federation owes NNPCL or vice versa.

Advertisement

Oyebode stressed that until this reconciliation is concluded and a payment plan is agreed upon, NNPCL should fulfill its financial obligations to the federation.

READ ALSO: FG, States, LGAs Share ₦1.424tn FAAC Revenue In December 2024

On last week’s stalled meeting of FAAC, Oyebode said talks were ongoing to establish clear terms of engagement with NNPCL.

Advertisement

If NNPCL presents a reasonable position, the meeting will hold soon. Commissioners are ready to return to Abuja,” he said.

Oyebode downplayed any notion of conflict, stressing that both parties were working towards a mutual agreement.

He described President Bola Tinubu’s subsidy removal policy as a catalyst for these financial discussions, which were previously impossible under the subsidy regime.

Advertisement

On resolving NNPCL’s inconsistent remittances, Oyebode expressed optimism that the reconciliation would be completed within weeks.

READ ALSO: Breakdown Of FAAC’s N1.358tn July Allocation To FG, States, LGs

Once concluded, both parties will agree on a payment plan.

Advertisement

If it is established that the federation owes NNPCL, it may need to adjust its revenue allocation.

If, on the other hand, NNPCL owes the federation, it must propose a repayment plan.

Oyebode is hopeful that the matter would be fully resolved before the end of 2025.

Advertisement

The Chief Corporate Communications Officer, Mr Olufemi Soneye, who The Nation contacted for a response had not responded to the message sent to him as at press time yesterday.

READ ALSO: Breakdown Of FAAC’s N1.358tn July Allocation To FG, States, LGs

He was also yet to return the telephone calls made to him.

Advertisement

FAAC comprises the minister of finance as chairman, all state commissioners of finance, state accountants-general, the accountant-general of the federation and the permanent secretary of the federal ministry of finance and members meet every month to allocate federally collected revenues.

The Federal Government collects 52.68 per cent of the revenue, states 26.72 per cent and the 774 local governments 20.60 per cent.

Advertisement

News

Tenebe Threatens To Suspend Edo Commissioner Who Fails To Wear Asiwaju’s Cap

Published

on

Chairman of the All progressives Congress in Edo State, Jarrett Tenebe, has said that any Commissioner sent out of the State Executive Council meeting for not wearing Tinubu’s signature cap would be suspended from the party.

Recall that Governor Monday Okpebholo had, during the Inauguration of the last batch of Commissioners, to wear the cap whenever they attend Exco meeting.

Tenebe in a television interview and monitored by our reporter said it was an act of indiscipline and insubordination for any Commissioner not to obey Okpebholo’s directive.

Advertisement

He said any impediment for Edo APC not to achieve 3.5 million votes for President Tinubu in 2027 would not be tolerated.

READ ALSO:Tenebe Fingers Edo APC Chieftains As Plot To Replace Him As Chair Thickens

He said, “If you refuse to wear the cap as the governor has directed, we will suspend you. That is indiscipline and insubordination.

Advertisement

“We are doing it because we have made a promise that 3.5 million votes are guaranteed. Everybody has keyed into realising the 3.5 million votes.

“If, as a member of the APC, you got an appointment, you are supposed to be loyal to the President.

“We are expressing our loyalty to the President by wearing the cap. Those complaining are not members of the APC. We, in Edo, have made it clear. No Asiwaju cap, no Exco.”

Advertisement

 

Continue Reading

News

Police Alert Public On Anonymous Bomb Threats In Edo

Published

on

The Edo State Police Command has alerted corporate organisations and members of the public to a wave of anonymous bomb threats being used by unidentified fraudsters to extort money.

The warning was contained in a public advisory issued on Monday by the Assistant Public Relations Officer, ASP Eno Ikoedem.

She said the command is investigating what it described as clear attempts to extort through fear and intimidation.

Advertisement

“The Edo State Police Command has observed a disturbing crime trend involving anonymous callers threatening individuals, business owners, and corporate organisations in Edo State, claiming that explosive devices have been planted within their premises.

READ ALSO:Edo State Government Pays Last Respect To Late NSCDC Commandant

“The callers then demand money, threatening to detonate the alleged explosives if their demands are not met. These acts are clear attempts at extortion through fear and intimidation, and the Command is actively investigating reported cases,” Ikoedem said.

Advertisement

In light of the development, the command urged members of the public to remain calm.

She added, “Do not panic or give in to any financial demands from such callers. The Command’s Explosive Ordnance Disposal (EOD) unit is fully capable of detecting and neutralising explosives.

“Report all such calls or messages immediately to the nearest police station or to the Command’s Control Room via 08077773721 or 08037646272.

Advertisement

READ ALSO:Tenebe Fingers Edo APC Chieftains As Plot To Replace Him As Chair Thickens

Avoid spreading unverified information or causing unnecessary panic.

“Stay vigilant and report any suspicious persons, objects, or movements in your surroundings.”

Advertisement

Meanwhile, the Commissioner of Police, Monday Agbonika, has ordered the deployment of specialised units, including the EOD team, Intelligence Bureau, and Tactical Squads, to respond swiftly to any reported threats and safeguard the public.

The Command also confirmed it is working closely with telecommunication providers and other security agencies to trace and apprehend the perpetrators.

Advertisement
Continue Reading

News

Edo State Government Pays Last Respect To Late NSCDC Commandant

Published

on

The Deputy Governor of Edo State on Monday led the state’s government delegation to pay last respect to the late Commandant of the Nigeria Security and Civil Defense Corps (NSCDC), Edo StaSte Command, Agun Joseph

The delegation comprised of all the security heads in the state, associates, politicians, as well other security.

The event which took place in Festival Hall in Benin, the deputy governor of the state described the late commandant as a man who impacted positively in the lives of the people.

Advertisement

Idahosa said Joseph will surely be missed, not only by his colleagues, but hundreds of others who came in contact with him.

READ ALSO:CSOs, Academia, Impacted Communities Launch Climate Justice Campaign In Edo

Joseph was a man of man of exemplary leadership, a team player, and a thorough bred officer who shared intelligence with sister agencies during his service years.

Advertisement

“As a state and people, we appreciate the commandant for being an astute officer who displayed quality leadership, exemplified courage, fairness, and justice in matters of security and governance.”

“Through his leadership at the NSCDC in the state, he exemplified courage, integrity, and professionalism of the highest order.

“He was a man guided by fairness, justice, and a deep sense of responsibility and excellence, always adhering to global best practices in matters of security and governance.

Advertisement

READ ALSO:JUST IN: NSCDC Commandant, Slumps, Dies In Edo

“Today, we gather with heavy hearts to pay our last respects to a remarkable officer, a dedicated public servant, a loving husband, and a devoted father.

“A man whose life was dedicated to serving our dear state and nation with distinction and honour,” he stated.

Advertisement

On behalf of the Edo State Government, Idahosa extended heartfelt condolences to the bereaved family, friends, and colleagues.

Addressing the daughter, and brother of the deceased who were physically present at the valedictory session, Idahosa said, “We share in your grief and pray that God grants you the strength to bear this painful loss.”

READ ALSO:NSCDC Mining Marshals Smash Illegal Mineral Storage Network In Rivers

Advertisement

“Though Commandant Agun has departed this world, His legacy endures — in the countless lives he touched, in the officers he trained, and in the peace and stability he worked so hard to uphold.

“As we bid him farewell, let us honour his memory by rededicating ourselves to the ideals he stood for — integrity, diligence, and selfless service to humanity,” he stated.

Heads of security agencies present at the event were that from the Nigerian Police, Nigerian Airforce, Nigerian Immigration, Nigerian Correctional Service, NDLEA, and the FRSC.

Advertisement

It would recalled that until his death, Agun, 57, was the commandant of the state command of the NSCDC.

Continue Reading

Trending