By Baron Ike
Contrary to insinuation by the chairman, senate committee on Federal Capital Territory, Dino Melaye that the federal government had spent the money collected from the Paris and London clubs, the authorities have put a lie to the claim.
On Monday, November 28, Melaye accused the Federal Government of sharing the over $4 billion being refund of over-deduction from the federal and the 36 States as Paris and London Club debt repayments last month, but the federal government on Thursday, December 1 denied the reports .
The senator representing Kogi West Senatorial District made the disclosure on his Facebook page and called on the Economic and Financial Crimes Commission (EFCC) to wade in and ensure the funds were not looted by the state governments.
Melaye said:“The 36 states of the Federation collectively received over $4 billion being the over-deduction on Paris and London Club Loans on the accounts of State and Local Governments from February 1990 to March 2002.
“The movement of the funds has been confirmed by the Central Bank of Nigeria. Nasarawa State received N68 billion, Kogi, N80 billion; Benue, N91 billion, while Plateau, received 75 billion.
“Osun received N84 billion and Edo State received N82 billion. The monies were credited into the respective accounts of all the 36 states of Federation on Monday, 21st November, 2016, while that of Plateau State was paid into a UBA account (1019894291). Nasarawa State confirmed to have been paid into Fidelity and Skye Banks for State Government (N46 billion) and Local Government (N22 billion) respectively.”
The senator expressed regrets that all the 36 states governors did not want the general public, especially civil society organisations, to know about these monies, hence the silence over the payment.
However, the Minister of Finance, Kemi Adeosun has said no such money was shared.
“It is absolutely not correct. No $4 billion was shared.” She asked rhetorically, “where will the government get the $4 billion from?”
Regardless, Adeosun disclosed that the federal government generated about N272.03 billion independent revenues between January and October.
She added that independent revenues were projected to increase to N811.03 billion as government continued the recovery of amounts owed it by government agencies that failed to remit the earnings into the federation Account in line with the Fiscal Responsibility Act, 2007.
Adeosun said the Recovery Committee set up by government had invited the management of these agencies to explain why their operating surpluses have not been remitted as mandated by the Act.