Federation Account: FG, Govs Pledge To Resolve Outstanding Issues18

An agreement has been reached on the Federation Account to resolve all outstanding issues to do with the Federation Accounts.

As part of this, a commitment to settle the arrears of the Federation Accounts Allocation Committee (FAAC) payments has been agreed.

This was the key development from a meeting of the Committee set up by Mr President to resolve this issue today.

The Committee is headed by His excellency, Governor Yuguda of Bauchi. Other members of the committee include the Governors of Delta, Anambra and Gombe.

The Coordinating Minister for the Economy and Minister of Finance, Dr Ngozi Okonjo-Iweala; the Minister of State, Finance, Dr Yerima Ngama;  the Accountant General of the Federation, Mr Jonah Otunla and the DG Budget Office of the Federation, Dr Bright Okogu are also members of the Committee.

The Committee also resolved to tackle the root causes of the revenue challenges facing the country including illegal bunkering and oil theft in a decisive and sustainable manner.

 
The meeting which was held in a positive and constructive atmosphere reaffirmed the determination of the Federal Government and the Governors to continue working together for the common good of the country.

 
To underscore the commitment reached at the meeting, it was also resolved that FAAC meeting will reconvene immediately.