The monthly Federation Account Allocation Committee (FAAC) meeting has been suspended indefinitely.
Yesterday’s scheduled meeting was the briefest, lasting less than an hour.
Addressing reporters, Chairman of Commissioners Forum, Mr. Mahmood Yunusa said the meeting can only be reconvene after “the process is strengthened.”
According to him, “the next meeting is a function of when we finish. What we are looking for is for the process to be strengthened, once the process is strengthened, there is no need for this fight.”
He noted that the decision of the state governments and other members of FAAC to oppose Nigeria National Petroleum Corporation (NNPC) NNPC’s paltry remittances “is about the system and the process and we are working on it.”
He said “it is no longer a joking matter, it has gone to the highest level. Mr President will sit down, he is highly interested in this, he is taking his time to ensure that the right thing is done.”
The state governments determination is hinged on the desire to “strengthen and deepen this process, once the process is strengthened, the correct amount is supposed to go to federal revenue account.”
If the process of remitting proceeds to the Federation Account is strengthened, Yunusa assured that “even if it is small we can not challenge NNPC, so we are also helping NNPC from undue pressure.”
He noted that state governments and other FAAC members opposed to NNPC “know that people are facing difficulties but this is a sacrifice that all of us must do to get out of this problems of NNPC under-remittance. If the process is operated the way it is supposed to, no body will complain.”
This is the third time the May accruals in the Federation Account for disbursement in June 2018 has been postponed. This has crippled states and federal authorities from paying civil servants June salaries.