The Federal Government is yet to put a specific figure to the amount of money so far returned by those who looted the treasury, as disclosed by President Muhammadu Buhari. The Minister of Finance, Mrs. Kemi Adeosun, told journalists , at yesterday’s Federation Accounts Allocation Committee , FAAC, meeting, in Abuja, that the process was still on-going.
According to her, when collated, the funds would be returned to where they were stolen from as appropriate. Her words, “There is no figure on the funds being returned yet. The process is on-going. When it is completed and the accounts are available, they would be returned to where they were stolen from. We haven’t come to that yet.”
Meanwhile, the sum of N 400. 310 billion was shared among the three tiers of government as revenue earned in the month of October and meant for November expenditure. It represent a N78.314 billion increased above the N321.996 shared in the previous month. The federal government took a total of N200.662 billion from both federation Account and Proceeds of Value Added Tax, VAT. States and Local Governments received N126. 177 billion and N95.303 billion, respectively. The oil producing states got an additional N24.141 billion as derivation on oil revenue.
The revenue organizations, namely the Federal Inland Revenue Service, Nigeria Customs Service and the Department of Petroleum Resources, DPR were paid , N6.650 billion, N3.535 billion, and N1.531 billion, respectively, as cost of collection. An analysis of the revenue sources showed that the Non-Mineral revenue has surpassed earnings from the Mineral sector with the former accounting for N213. 080 billion to the latter’s N187.230 billion of what was shared.
The Nigerian National Petroleum Corporation paid N6.330 billion to the central coffers as refunds, while N6. 6995 was also earned from Exchange Gain.
This government needed to be more open, Nigerians deserve to know the breakdown of the amount returned and the name of the people involved. We have already started implementing plead bargaining policy, so the process should be made open to Nigerians , it is our common wealth and not that of Federal Government alone.
ReplyDeleteDiscerning Nigerians do not believe you. Ok if you cannot give us figures may we at least have names. You cannot cast aspersions and expect us to swallow it hook line and sinker. Some of us are saying you don't have a leg to stand on because there are no looted funds. Six months down the line we should at least have a direction. The world is waiting and watching.
ReplyDeleteIf James returned N4, musa N5 that woll be what? N9. Simple maths. Why would she and GMB say they can't give a figure, but they have received an amount. If you steal what was stolen, dogs will lick you both love Naboth. You should have just kept quite. Nigerians are now mega smart. If you like declare half and keep half.
ReplyDeleteAPC should stop deceiving us and work more on their campaign promises. We hear diff lies everyday. Jonatan spent 64billion on Independence now they are saying he spent only 300m in 4yrs. People are returning money. Who are the people? how much are they returning? During the campaign they said there nothing like subsidy now they are owing marketers subsidy. 4wks of fuel scarcity no concrete explanation! This is Fraud not Change
ReplyDeleteAPC should stop deceiving us and work more on their campaign promises. We hear diff lies everyday. Jonatan spent 64billion on Independence now they are saying he spent only 300m in 4yrs. People are returning money. Who are the people? how much are they returning? During the campaign they said there nothing like subsidy now they are owing marketers subsidy. 4wks of fuel scarcity no concrete explanation! This is Fraud not Change
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ReplyDeletePeople are returning money. Who are the people? how much are they returning?
NO ANSWERS????
ma guy 9ja don wise up ooh..You should have just kept quite.
Madam patience tell us say name conductors dey find change. But Nigerians no believe. Simple mathematics. Minister of finance no sabi. Is it hard to say we so far we have received X-Amount from Mr A and Y-Amount from my Mr B. But more are still coming from Mr C, D & E.
ReplyDeletefrom one lie to another. no matter how far a lie has gone truth will surely overtake it. 4yrs is not forever
ReplyDeleteNo wonder PDP fooled Nigerians for over 15years,some Nigerians are just damn stupid and brainless. Investigations and looted funds recovery are ongoing,any sensible and responsible human would await the completion of the process before demanding their reports into all recovered stolen cash but definitely not some Nigerians going by their reasoning level and comments here.
ReplyDeleteYes I agree with you, we have to wait and see the completion of the process!
ReplyDeleteIn 4 years time or have they told you when the process will be completed? So how much have they recovered so far?
DeleteNigerian can't wait till the completion of the process. We want to know how far at every materials time. (update) that is transparency before any lie change in process. APC liar.........
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