Jun 23 2012
By Emmanuel Ugwu
THISDAY had reported on Friday that there was a looming confrontation over the delayed release of the allocations which had been worked out two weeks ago by the Federation Account Allocation Committee (FAAC). CBN spokesman, Mr. Mohammed Abdullahi, had, last Friday, refuted the allegation that the apex bank was responsible for the delay, declaring that if the AGF had sent the mandates to CBN, the accounts of the states would have been credited since.
Abdullahi said: “The allegation is off-point. We are bankers to the government. Once we have the appropriate mandate to release money to the states, we shall not hesitate to do that.”
However, the office of the AGF has reacted, disclosing that the mandates for the release of the funds had been sent to the CBN since December 1.
Assistant Director of Press to the AGF, Mallam Hassan Dodo, told THISDAY that the office raised mandates, which the AGF, of government on November 29.This was a day after FAAC met and worked out the allocations.
The mandates, Dodo added, were countersigned by the relevant authorities on November 30 and transmitted to the CBN on December 1.
Several governors confirmed their accounts, fuelling speculations that there was cash squeeze in the system following mounting fuel subsidy bills and domestic debts.
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