EXCLUSIVE: cenbank, FAAC at loggerheads over probe of federation revenue accounts | TheCable
This was disclosed by FAAC’s post-mortem sub-committee at its monthly meeting on Tuesday, January 17, 2023.
The sub-committee was providing an update on a proposed review of the FGN/CBN treasury crude account No: 20054141287, according a document obtained by TheCable. At the last FAAC plenary meeting held on November 18, 2022; a consultant engaged by the Nigerian Governors Forum , had made a presentation to ascertain whether all revenues generated by ministries, department, and agencies and paid into a designated account with the CBN during the aforementioned period; were fully moved to the federation account for distribution to the federating units as provided by section 162 of the Constitution of the Federal Republic of Nigeria .
“The ad hoc committee called for another meeting on Thursday, 12th January, 2022, and a letter of invitation, signed by the chairman of RMAFC was sent to CBN, yet they did not attend.” “The sub-committee has gone to this length to ensure that CBN attends the meeting because they are critical to the issue, without their participation the assignment would not proceed.”
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