By Chuks Okocha, Ndubuisi Francis and Alex Enumah in Abuja
Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, yesterday narrated how the federal government rejected a request by governors to borrow N50 billion from the Central Bank of Nigeria (CBN) to augment the revenue shortfall in March for distribution by the Federation Account Allocation Committee (FAAC).
The minister, who featured on a National Television Authority (NTA) programme, monitored in Abuja, said that was why the federal government found claims by Edo State Governor, Mr. Godwin Obaseki, that it printed N60 billion to augment funds shared to states in March as shocking.
Lawyer, ALGON battle over $381m judgement debt
On
By Henry Ojelu
A legal practi-tioner, Dr Ted Iseghohi and the Association of Local Governments of Nigeria, ALGON are currently in a bitter legal battle over an alleged $381million judgment debt.
While Iseghohi is threatening to drag the ministry of finance to court for not complying with a garnishee order attaching the funds belonging to local government in the custody of Central Bank of Nigeria, CBN, ALGON through a letter to President, Muhammadu Buhari insists that Iseghohi did not execute any project for the association to warrant such claim.
In a letter to the ministry of finance dated April 8, 2021, Iseghohi through his legal representative wrote: “Our client got a Garnishee Order absolute attaching the funds belonging to Local Governments in the custody of the Central Bank of Nigeria in satisfaction of a Judgment debts as per Judgments of both the FCT High Court and the Federal High Court of Nigeria which entered Judgmen
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The Punch reports that fuel subsidy has hit N500 billion as the Nigerian National Petroleum Corporation (NNPC) rules out a hike in the price of petrol. The newspaper’s cover picture depicts the protest of lawyers demanding financial autonomy for state judiciary.
The Nation says gunmen killed policemen in multiple attacks on stations in the south-east. Governors and Association of Local Governments of Nigeria (ALGON) have protested the planned deduction of $318 million from the federation account as legal fees to judgment creditors.
The Guardian’s headline focuses on the impact of the current state of the economy on Nigerians. The newspaper says there is rising pressure on disposable income as the rate of unemployment doubles. In what appears to be a trend in the south-east, gunmen again attacked two police divisions in Abia and Anambra, the newspaper reports.
Nigeria Governors Forum Warns Finance Ministry Not To Pay Firms Claiming N105billions From LGA Allocations
The NGF warned in a letter on Monday, which was obtained by SaharaReporters, that the matter was to be determined in court and the finance ministry should stay action on the payment because of the negative financial implications it would have on the 774 LGAs nationwide.
by SaharaReporters, New York
Apr 20, 2021
The Nigeria Governors’ Forum has written to the Federal Ministry of Finance, Budget and National Planning not to pay Local Government Councils’ funds to the tune of over N105 billion being claimed by some firms as legal and consultancy fees.
Paris Club Refund: NGF writes finance minister over suspicious N159 billion judgment debts premiumtimesng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from premiumtimesng.com Daily Mail and Mail on Sunday newspapers.