Under-remittances: FAAC Meeting Deadlocked Over Irreconcilable Disagreement

By Mark Itsibor


Abuja (Precise Post) – The Federal Account Allocation Committee (FAAC) meeting for the month of March ended without conclusion after hours of deliberations by the members.

Director of press, Federal Ministry of Finance, Mr. Hassan Dodo simply said, “The meeting was inconclusive.” He failed to give reasons for the forced adjournment.

Our correspondent gathered that the meeting was postponed indefinitely due to irreconcilable disagreement among members over under remittances by some revenue generating agencies, among other issues.

A source who was at the meeting told newsmen that the issues responsible for the adjournment would be discussed at the National Economic Council (NEC) meeting today (Thursday). He said the outcome of the NEC meeting would determine when the March FAAC meeting would be reconvened.

Revenues generated in February are supposed to be evaluated and approved for sharing to the three tires of government at the meeting, which was postponed yesterday.

The meeting is usually attended by states’ commissioners for Finance, representatives of federal government revenue generating agencies and other agencies of government, with the minister of Finance, Mrs. Zainab Ahmed as the chairman.

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