Account For Trillions Of FAAC Allocations Or Face Legal Action, SERAP Tells 36 Govs, Wike

The Socio-Economic Rights and Accountability Project has urged Nigeria’s 36 state governors and the Minister of the Federal Capital Territory, Abuja, Mr Nyesom Wike to “provide our organization with documents on the spending of trillions of FAAC allocations received by your state and the FCT since 1999, and to widely publish any such documents.

The FoI requests, read in part: “ensuring that the FAAC allocations received by your state and the FCT are spent to achieve the security and welfare of Nigerians are serious and legitimate public interests.” “Despite the increased FAAC allocations to states and FCT, millions of residents in your state and the FCT continue to face extreme poverty and lack access to basic public goods and services.”“The reported removal of petrol subsidy and the floating of the exchange rate by the Federal Government has translated into increased FAAC allocations to states and the FCT. However, there is no corresponding improvement in the security and welfare of millions of Nigerians.

“The report that some 140 million Nigerians are poor suggests corruption and mismanagement in the spending of trillions of naira in FAAC allocations collected by your state and the FCT.” “According to the Nigeria Extractive Industries Transparency Initiative , the federal, states and local governments shared N10.143 trillion from the Federation Account as statutory revenue allocations in 2023, with states collecting N3.585 trillion.”

Source: Law Daily Report (lawdailyreport.net)

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