Former Secretary General of the Arewa Consultative Forum (ACF), Mr. Anthony Sani, has criticized the decision of the House of Representatives to step down a motion seeking an investigation into N15 trillion in unaccounted revenue within the Federation Accounts Allocation Committee (FAAC).
The motion, which was presented last week by Mansur Soro, the lawmaker representing Darazo/Ganjuwa Federal Constituency in Bauchi State, sought to probe the alleged mismanagement of funds meant for federal, state, and local governments. Soro had raised concerns over FAAC’s failure to adhere to constitutional provisions in revenue disbursement, citing Section 162 (3) of the 1999 Constitution (as amended), which mandates that all funds credited to the Federation Account must be distributed among the three tiers of government as prescribed by the National Assembly.
According to Soro, FAAC, rather than following constitutional directives, had implemented a revenue savings policy, withholding funds from the distributable account under the pretext of managing inflationary pressures resulting from exchange rate unification and fuel subsidy removal. Over the past 20 months, FAAC is said to have saved N15 trillion from statutory revenues meant for distribution, without transparency on how the funds are allocated or managed.
Sani condemned the lawmakers’ decision to stall the motion, arguing that accountability in public finance is critical, especially in light of ongoing economic challenges faced by Nigerians. He urged the National Assembly to reconsider the motion and ensure that public funds are managed with the highest level of transparency and in accordance with constitutional provisions. The issue has sparked widespread concern, with many calling for greater oversight of FAAC’s financial activities to prevent potential mismanagement or diversion of public funds.
