Federation Account

Tag: Federation Account

Azeez November 24, 2017

States refuse to hold meeting with FG over discrepancies in federation account

The 36 states of the federation on Thursday refused to attend the monthly Federal Account Allocation Committee (FAAC) meeting. The states alleged that there are discrepancies in the federation account…

Ezinne October 14, 2017

The Thread: Why the Senate needs to pass the Petroleum Industry Bill

This week has seen the NNPC, the nation's oil corporation, under the microscope for fraudulent contracts and ethnic politics. President Buhari has taken the brunt of the criticism, being the…

Omoleye Omoruyi September 11, 2017

How Diezani shunned the powers of NASS and approved NNPC funds – Report

The 2015 audit report of the Federation Account has uncovered how the former Minister of Petroleum Resources, Diezani Alison-Madueke, assumed the powers of the National Assembly to draw billions in…

Azeez April 18, 2017

How NNPC failed to remit $81.2bn in four years – Reps

by Azeez Adeniyi The House of Representatives has alleged that the Nigerian National Petroleum Corporation (NNPC) did not remit $81.2bn from crude oil sales to the Federation Account in four…

Azeez March 14, 2017

‘NNPC yet to remit $15.8bn to FG account’

by Azeez Adeniyi The Nigeria Extractive Industries Transparency Initiative has said despite its report, the Nigerian National Petroleum Corporation is yet to remit $15.8bn collected from Nigeria Liquefied Natural Gas…

Oludolapo Adelana March 1, 2017

Senate to probe NNPC

by Dolapo Adelana The senate has ordered a fresh probe into the affairs of the Nigerian National Petroleum Corporation (NNPC). The senate, which made the resolution at plenary on Wednesday…

Op-Ed Editor June 18, 2016

‘$12.9bn, ₦1.4trn…’ | The 5 numbers that mattered this week

Every week, different figures make news headlines. While some numbers are bereft of impact in the general scheme of things, a few others tend to be significant, and as such…

Kolapo Olapoju June 15, 2016

FG to loan N90bn to states [DETAILS]

The Federal Government will provide a N90 billion loan facility to state governments so as to reduce their dependency on the monthly handout from the Federation Account. The states of…

Kolapo Olapoju March 15, 2016

Massive fraud: N3.2trn unpaid into national treasury in 2014 [DETAILS]

According to the federal government, not less than N3.2 trillion was unremitted into the national treasury by various Ministries, Departments and Agencies of government as well as foreign missions in…

Kolapo Olapoju November 30, 2015

‘There’s no money’, ‘We must go back to the farms’ | The lamentations of Governor Aregbesola

Osun State Governor, Rauf Aregbesola, is heavily lamenting over the financial crisis in his state. Aregbesola says Osun received only N55m from the Federation Account for the month of September, 2015,…

Janeth J July 25, 2015

Aregbesola explains again why he couldn’t pay state workers

Governor of Osun state, Rauf Aregbesola has again said he couldn't pay workers because of the drop in allocations to the state from the federation account. Aregbesola said this Friday…

January 11, 2014

CBN Governor, Sanusi’s whereabouts unknown ‘since argument with Jonathan’

by 'Jola Sotubo According to a Sun News report, the whereabouts of Sanusi Lamido Sanusi, the Governor of the Central Bank of Nigeria (CBN),have not been known since Wednesday. It…

March 12, 2013

Vanished! N7.93 billion missing from Federation Account, CBN, NCS, FIRS under pressure

by Rachel Ogbu An audit investigation conducted into the operations of the Federation Account noted that the Nigeria Customs Service, NSC, claimed that it remitted the N2334.430bn, but 2007 records…

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