FAAC Meeting Ends In Deadlock Over Shortfalls In Revenue

Mrs Kemi Adeosun

*****Salary Payments to be delayed

By CLEMENT NWOJI, Abuja

The monthly meeting of the  Federation Accounts Allocation Committee (FAAC) ended in deadlock Wednesday, as the much expected sharing of allocations to the three tiers of government from the monthly revenue accrual into the accounts of the Federation could not be effected.

The three tiers governments depend mostly on the allocations effected by FAAC for payment of salaries and execution of some development projects. The funds allocated are expected to hit the  bank accounts of the 36 state governments including the Federal Capital Territory to enable it pay salaries of workers at by last day of the month.

However, after brainstorming session of the meeting for more than two hours, which the Chairman of FAAC, Mrs Kemi Adeosun, who doubles as the Minister of Finance, was absent, the members rose without conclusion.

The meeting commenced at 5 pm to few minutes after seven o’clock, had in attendance the finance commissioners of the respective States, Accountant General of the Federation, among other key offices.

Each of the officers approached including the Chairman of Finance Commissioners forum kept sealed lips and declined comments.

There was also no indication on possible date of reconvening the meeting. The consequence of which, is delay in payment of civil servants’ salaries by the three tiers of government for the month June.

Signal to possible deadlock of the meeting was the lumping together of the technical session of the meeting where issues pertaining to the revenues from the revenue generating agencies and shortfalls are considered, with the actual allocation.

These two sessions normally last for two days.

OPTIMUM TIMES gathered that the cause of the deadlock is not unconnected with shortfalls in remittances by some revenue generating agencies.