The affected revenue generating agencies are alleged to be generating money in United States dollars but remitting same into the Federation Account in naira.
This is even as the state governors have again cried to the Federal Government over their inability to pay workers salaries following the continuous dwindling revenue.
The Cross River State Governor, Prof. Ben Ayade, disclosed this to State House correspondents at the end of the fifth National Economic Council (INEC) meeting presided over by Vice President Yemi Osinbajo inside the Presidential Villa, Abuja.
Ayade who briefed the media alongside Governor Olusegun Mimiko of Ondo State; Governor Aminu Tambuwal of Sokoto State and Governor Darius Ishaku of Taraba State, said the Central Bank of Nigeria (CBN), was saddled with the responsibility of probing the agencies.
"A brief report of Federal Government of Nigeria dollar generating revenue agencies remitting in naira into the Federation Account was also given by the CBN governor. He said investigations are ongoing. Such agencies include but not limited to NNPC, NIMASA and NPA," Ayade said.
"We also discussed the concessionary loans to states based on collateralisation of the Excess Crude Account. The CBN governor briefed that 27 states have made request for the $10 billion facility and it is currently being processed.
"He has called on the affected states to complete all necessary documentations for the effective release of the said money.
"It is important to note that not all states have expressed interest in the ECA collaterised loan," he said.
Ayade also said the Permanent Secretary, Ministry of Finance, briefed the council about the Excess Crude Account which stands at about $2.25 billion as at October 15.
He said Osinbajo also briefed the council on the details of the planned refund of monies spent by state governments on the repairs of federal roads.
Ayade quoted the Vice President as saying that efforts were underway to refund all state governments that have followed the right procedure and due process in incurring expenses.
Mimiko on his part described the Federal Government's bailouts to states as a temporary one, disclosing that some state governors raised the alarm during the meeting that despite the bailout, it would still be difficult for them to pay salaries in the face of dwindling revenue.
"The bailout is a temporary assistance to the state to pay salaries. The bailout is the calculation of arrears of salaries being owed by states.
"The truth of the matter is that because of the ongoing fall in revenue, accruals to states from Federation Account and IGR are reducing.
"Many states complained to the council today that moving forward, these accruals will still not be enough to pay salaries monthly.
"The issue of the bailout is not the final solution to the perpetual fall in accruals although there is no question about the fact that it has helped the states," Mimiko said.
Governors who attended the meeting included those of Delta, Adamawa, Lagos, Zamfara, Kwara, Anambra, Plateau, Nasarawa and Kano states.
Others are those of Bauchi, Sokoto, Ogun, Yobe, Imo, Niger, Borno, Benue, Oyo, Ebonyi, Abia, Kaduna, Osun, Edo, Kebbi and Kogi States among others.
Some state governors were represented by their deputies.
AbleMoJah® Nigeria.
No comments:
Write comments