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Tag: Ahmed Idris

FAAC: Fed Govt, states, LGAs share N345.095b in February

The Federal Government, state governments and local government councils have shared N345.095 billion as Federal Allocation for the month of February, 2016.

A communiqué issued by the Federation Accounts Allocation Committee (FAAC) and signed by the Accountant General of the Federation Ahmed Idris showed that the Gross Revenue of N270.499 billion received for the month of February was lower than the N290.961 billion received the previous month by N20.462 billion.

It indicated that oil production increased slightly between December last year and January this year despite explosions at Escravos Terminal, force majeure declared at Brass Terminal, shut-in and shut-down of pipelines at other terminals for repairs and maintenance.

The communiqué, released through the Deputy Director (Press) of the OAGF, Mrs. K.N. Offie, however explained that “there was also revenue loss of $45.90million as a result of drop in average price of crude oil from $39.04 in December, last year to $29.02 in January, this year.

“Also, a substantial drop in income was recorded from Oil and Gas Royalty, Companies Income Tax and import Duty.

“ Consequently, the distributable Statutory Revenue for the month is N270.499billion. The sum of N6.330 billion was refunded by NNPC (NIgerian National Corporation) to the Federal Government. There is exchange gain of N3.485 billion which was included in the amount for distribution. The value added tax VAT realised N64.781 billion was also included for distribution.

“Based on the foregoing, the total revenue distributable for the current month inclusive of VAT is N345. 095 billion.

“The details of the statutory revenue distributed for the month of February is as follows: Federal Government received N127.200 billion (52.68 per cent); states received N64. 518 billion (26.72 per cent); local government councils received N49.740 billion (20.60 per cent); while the oil producing states received N22.780 billion as 13 per cent derivation revenue.

“Furthermore, for the month of February, 2016, the gross revenue available from the Value Added Tax (VAT) was N64.781 billion as against N69.719 billion distributed in the preceding month, resulting in a decrease of N4.938 billion.

“The breakdown of the Value Added Tax (VAT) distribution for the month is as follows: Federal Government received N9.329 billion (15 per cent); states secured N31.095 billion (50 per cent) while the Local Government Councils got N21.767 billion (35%).”

March 23, 2016
Public funds won’t go into private pockets anymore – AGF

The Accountant General of the Federation (AGF), Ahmed Idris, has assured Nigerians that public funds will never end up in private pockets as was the case in the past.

Speaking at the Daily Trust Board of Economists Breakfast Meeting on Thursday in Abuja, Idris said Nigeria has adopted high international standards for its accounting system to ensure nothing is hidden from the general public.

He said the federal government has weeded all ghost workers out of government payroll through online system of salary payment and no single individual will be able to collect more than one single salary in a month due to checks put in place by the government.

The AGF said the Treasury Single Account (TSA) adopted by the federal government ensures that government can easily fund its budget as public funds will no longer go to private pockets.

The Minister of Information, Alhaji Lai Mohammed, lamented that the problems confronting Nigeria are self-inflicted.

Represented by Jimoh Lawal, at the breakfast meeting, Mohammed said Nigeria over the years decided to concentrate on only one product at the expense of others.

He said corruption and indiscipline have been a major problem in the country and these have affected all facets of the economy.

He observed that Nigeria could achieve more than what Singapore achieved in few years if Nigerians imbibed the virtues of discipline and shun corruption.

February 25, 2016
Bailout funds not from $2.1b in ECA – AGF
The Accountant-General of the Federation, Alhaji Ahmed Idris, said on Tuesday the bailout funds for states were not deducted from the $2.1 billion in Excess Crude Account.

He said the cash was sourced from the accrued Company Income Tax (CIT) realized from the Liquefied Natural Gas (LNG). The fund was put at N359, 374,355, 607.60.

He said the funds in Excess Crude Account were intact and the administration of President Muhammadu Buhari was yet to touch it.

The AGF made the clarifications in a statement issued through the Head and Deputy Director, Press and Public Relations in the Office of the Accountant-General of the Federation, Kenechukwu N. Offie, against the backdrop of misrepresentation of President Buahri’s gesture.

There had been allegations that the President emptied the nation’s treasury to offer relief package to states to pay workers’ outstanding salaries.

The statement said: “The Accountant-General of the Federation, Alhaji Ahmed Idris, has noted with great concern that the information in the public domain is inconsistent with the details of the amount distributed at the emergency Federation Accounts Allocation Committee (FAAC) meeting held on Monday 6th July 2015.

“Consequently, it has become necessary to provide further clarification about the outcome of the said emergency FAAC meeting.
- That the amount distributed was not from the Excess Crude Account ECA but rather the accrued Company Income Tax (CIT) realized from the Liquefied Natural Gas (LNG) N359, 374,355, 607.60
- That the amount that was distributed was less the cost of collection
- The Federal government got 56.68 per cent amounting to N181,745,674,112.72
- The state governments got 26.72 per cent amounting to N92,183,834,705.62
- Local government councils got 20.60 per cent amounting to N71, 069,872,564.96.
“The Accountant-General of the Federation, Alhaji Ahmed Idris ,makes this clarification in order to provide Nigerians with the correct and authentic information about the outcome of the proceedings at the Federation Accounts Allocation Committee meeting held on Monday 6th July 2015.

“The public is also invited to please note that no withdrawal was made from the Excess Crude Account (ECA) and that the current balance still remains $2.1 billion.”
July 7, 2015
Presidency denies approving sharing of ECA balance

The Presidency on Tuesday denied approving sharing of the balance in the Excess Crude Account.

The Accountant General of the Federation, Ahmed Idris, on Monday told State House correspondents while answering questions on the Excess Crude Account that the balance on the account has been approved for sharing on Monday.

But a statement issued by the Special Adviser on Media and Publicity to the President, Femi Adesina, said that the Accountant General’s position was wrong.

The statement reads: “Reports in sections of the media today that funds will be drawn from the Excess Crude Account for the relief package approved by President Muhammadu Buhari for states and local governments, are incorrect.

“For the purpose of greater clarity on the matter, the measures approved by President Buhari to deal with the problem of unpaid public sector salaries in many states are as follows:

“*The sharing of the $2.1billion dividend paid to the Federation Account by the Nigeria Liquefied Natural Gas Company (NLNG);

“* A Central Bank-packaged special intervention fund that will offer financing to the states, ranging from N250billion to N300billion. This will be a soft loan available to states for the purposes of paying backlog of salaries; and

“*A debt relief program designed by the Debt Management Office which will help states restructure their commercial loans currently put at over N660billion and extend the life span of such loans while reducing their debt-servicing expenditures.

“The measures approved by President Buhari definitely do not include drawing down the remaining balance in the Excess Crude Account or the “liquidation” of the account as some media outlets have wrongly reported.

July 7, 2015
$1.7 billion to be shared from ECA

The Federation Account Allocation Committee (FAAC) will share $1.7 billion from the Excess Crude Account among the three-tiers of government.

This was disclosed to State House correspondents by the Accountant General of the Federation, Ahmed Idris, after a meeting with President Muhammadu Buhari.

The meeting was also attended by the Permanent Secretary in the Federal Ministry of Finance, Mrs. Anastasia Daniel Nwaobia.

Idris disclosed that what the committee met on ground was between $1.6 billion and $1.7 billion, while Edo State Governor, Adams Oshiomhole had last Monday meeting claimed that $2 billion was the balance in the ECA.

The AGF said: “Even today, we are going to meet. The FAAC is going to meet, and we are going to distribute as agreed and directed during the NEC meeting last week, and the position is very clear, what we met on ground Is what we are going to distribute.

On what he met on ground, he said: “It is hovering between $1.6 to $1.7 billion, and that is what we are going to distribute among all the three tiers of governments – the federal, states and local governments based on the approved formula.”

Asked what he is bringing on board as the new AGF, he said: “Well the general message is clear, Mr. President had a clear direction which we all have to fall in line, prudence management of resources and identify more alternative ways of generating revenue, which we are set to do and to manage the meager resources we found on ground very efficiently and effectively for the betterment of the economy.”

July 6, 2015
New AGF backs out of $3.2b judgments’ negotiation

The newly appointed Accountant General of the Federation (AGF), Ahmed Idris, has backed out of the planned settlement talks with beneficiaries of two judgments of $3,188,079,505.96 given against the Federal Government) by a Federal High Court in Abuja.

The judgments were given in 2013 by Justice Adeniyi Ademola, in favour of the Association of Local Governments of Nigeria (ALGON), its consultant, Linas International Limited and some others in relation to the debts settlement agreement between the Federal Government and the Paris Club.

Also listed as beneficiaries of the judgments given in suits marked: FHC/ABJ/CS/129/2013 and FHC/ABJ/CS/130/2013 are some firms and two lawyers.

They are Phil-Tech Nigeria Limited, Riok Nigeria Limited, XI Nigeria Limited, Snecou Group of Companies Limited, Wells Procurement Services Limited, Systematic Engineering Limited, Prince Orji Nwafor –Orizu and Bello Olaitan Busayo.

The companies are those ALGON purportedly awarded contracts for the provision of health care and security services in all local governments.

But a recent investigation commissioned by the Nigeria Governors’ Forum (NGF) raised doubt about the legitimacy of both judgments.

The report queried the conduct of the Attorney General of the Federation (AGF), the Minister of Finance and Accountant General of the Federation, who were defendants in the case.

It revealed how the AGF, the Minister of Finance and Accountant General of the Federation allegedly neglected to defend both suits, which sought to deprive the country huge sums of money, raising questions about the actual motive behind the suits.

At Monday’s resumed hearing of the garnishee proceedings initiated by ALGON and its consultant, Linas International, to retrieve the judgment sum from the Central Bank of Nigeria (CBN), lawyer to the judgment creditors, Joe Agi (SAN) said the AGF has opted to allow the court decide the case.

“We took a date before today with a view to holding a meeting with the Accountant General of the Federation (AGF). However, on the day we were to meet, another AGF was appointed by the Federal Government.

“He (the AGF) subsequently called off the meeting and advised that he will rather await the decision of the court. So, we have come today, ready to conclude the cross-examination,” Agi said.

July 6, 2015
Two Al Jazeera reporters detained in Nigeria

Nigeria’s military has detained two Al Jazeera journalists in Maiduguri, Borno State, since Tuesday, the news outlet said on Thursday.

Al Jazeera said the journalists, Ahmed Idris and Ali Mustafa, were being kept in their hotel rooms until further notice.

Their camera equipment had been confiscated, Reuters says.

Nigeria’s defence headquarters said on Wednesday that the two television reporters were “restrained to their hotel” after they had been monitored for “loitering” in areas where military operations against Boko Haram insurgency were on-going.

March 26, 2015