No secret sharing of $4bn by FG, 36 States – Kemi Adeosun

Nigeria Federal Minister of Finanace, Kemi Adeosun

Minister of Finance, Kemi Adeosun, on Thursday, denied‎ reports of a secret sharing of over $4 billion by the Federal Government and the 36 states.

Chairman of the Senate Committee on Federal Capital Territory (FCT), Dino Melaye, had on Monday alleged that the Federal Government and 36 States shared over $4 billion in November 2016 being refund of over-deduction on Paris and London Club debt repayment‎.

Mr Melaye, who is representing Kogi West Senatorial District, disclosed this on his Facebook page.

Reacting to the statement, Mrs Adeosun said ‎no money was shared.

“It is absolutely not correct. No $4 billion was shared. Where will the government get the $4billion from?”‎ said Adeosun while addressing the media on independent revenue.

Melaye had also on Monday called on the Economic and Financial Crimes Commission (EFCC) to step in and ensure that the funds paid to the state governments was not looted.

He said, “‎The 36 states of the Federation collectively received over $4 billion being the over-deduction on Paris and London Club Loans on the accounts of State and Local Governments from February 1990 to March 2002.

“The movement of the funds has been confirmed by the Central Bank of Nigeria. Nasarawa State received N68 billion, Kogi received N80 billion, Benue received N91 billion while Plateau received 75 billion.

“Osun received N84 billion and Edo State received N82 billion. The monies were credited into the respective accounts of all the 36 states of Federation on Monday, 21st November, 2016.

“While that of Plateau State was paid into a UBA account (1019894291), that of Nasarawa State as confirmed from Government House was paid into Fidelity and Skye Banks for State Government (N46 billion) and Local Government (N22 billion) respectively.

“Regrettably, all the 36 states governors don’t want the general public especially civil society organizations (CSOs) to know about these monies, hence the secrecy of the payment.”