President Muhammadu Buhari Tuesday in Abuja assured State Governors that the days of impunity, lack of accountability, and fiscal recklessness in the management of national resources are over in Nigeria. Governors at the meeting with Buhari today State House

Speaking at a meeting with the Governors in the Presidential Villa, President Buhari also vowed that funds stolen by government officials who abused their offices in the recent past will be recovered and systemic leakages stopped.

"There are financial and administrative instructions in every government parastatal and agency. But all these were thrown to the dogs in the past. Honestly, our problems are great, but we will do our best to surmount them.

"The next three months may be hard, but billions of dollars can be recovered, and we will do our best, " the President told the governors.

Expressing surprise that the governors had tolerated the atrocities allegedly committed with the Excess Crude Account since 2011, President Buhari promised to tackle the issue decisively.

The President declared that the payment of national revenue into any account other than the Federation Account was an abuse of the constitution, adding that what he had heard was going on in many agencies and corporations, particularly the NNPC, was clearly illegal.


On the refund of monies spent on federal projects by state governments, President Buhari assured the governors that the Federal Government will pay, but insisted that due process must be followed.

The President promised special assistance for the three North Eastern states badly affected by the Boko Haram insurgency.

He also said that a comprehensive statement on the economic and financial situation inherited by his administration will be made to the nation within the next four weeks.

"We will try and put the system back into the right position. What happened in the 2nd Republic has apparently happened again, and even worse, but we will restore sanity to the system," President Buhari assured the Governors.

On an immediate lifeline for states that owe salaries running into many months, President Buhari said that a committee headed by the Vice President, Professor Yemi Osinbajo, will look at the Excess Crude Account and see what can be shared immediately.

The governors, led by Chairman of the Governors Forum, Abdulaziz Yari of Zamfara State, had presented a wish list to the President that included:

Ø Obedience of extant Supreme Court ruling that all monies go into the Consolidated Federation Account;

Ø An order from the President that all revenue generating agencies must pay into the Consolidated Federation Account;

Ø Review of the Revenue Allocation Formula;

Ø Refund of the monies expended by states on federal projects;

Ø A special consideration for the three states of the North East under Boko Haram infestation;

Ø Full details of the amounts that accrued into the Excess Crude Account from 2011, and how the money miraculously shrank without official sharing.


Femi Adesina
Special Adviser to the President

(Media and Publicity)
June 23, 2015

http://www.metronaija.com/2015/06/buhari-vows-to-recover-billions-of.html

And some people will keep shouting he has not nominate his cabinet after ao much debts on ground , buhari is only trying to manage things but I think dey shouldnt cover up the damages made by the former president, let him speak to us and we should allow all involved be punished, Nigeria is sinking don't manage a ship half wrecked, let's know and together we can bring the loots made by the thieves

FTC. Are they arresting GEJ

Until someone goes to Jail. Baba you have not started working.

Will,will,will everytime.. since buhari took over, that word has been overused...Is he a fan of Will.i.am?
Buhari please get to work and stop blabbing

A step at a time.
At least this is something

.This is a welcome development. I am happy that the states that are highly indebted will get a bailout.NPA,NNPC etc.should start paying all generated revenues into the federation account.

Buhari is making too much promises... Bad coz that is putting people's expectation too high..

Will this,will that.....
Stop willing...we need actions not wills.

Albasi bom

Stolen money should be recovered quickly. How can a few people steal our common wealth and go away with it? Kirikiri should be expanded, these people must go to jail..

Nairaland critics, please you are needed here. This guy claims he is talented, come and prove him wrong.

https://www.nairaland.com/2399348/raw-music-freestyle-thread-love

Get down to brasstacks and save us the sermons ...

Until I start seeing some past officials in Chains and being dragged on the ground as common Criminals, the much talked about Tackling corruption will remain a ruse to me!

That Useless- Fedora -Wearing-Drunkard Crook From Otuoke Must Be Disgraced And Jailed!

I thought that he inherited an empty treasury? So there is still some monies in the excess crude account?

Pls PMB should be careful of these governors because very soon they will also deny that they are about to collect money from ECA.

But can't our governors think of something else to do to raise money instead of every day waiting for Abuja to send us alert?

God help Nigeria

Which special consideration for Terrorist states. How can you take Biafran money and start to share it among Parasite Terrorists in the North? This is abomination. Do they have oil? This another avenue for Northern Oligarchs to embezzle funds since the entire area is now made of desert.

This is criminal for the old dullard to give Biafran money to any state under special status or whatever.

Buhari, Order the arrest of a few big wigs from the last administration and parade them publicly in handcuffs. That will send out a better message than "we will".

l hope these set of governors will be prudent with their resources.

ROSSIKE:
Buhari, Order the arrest of a few big wigs from the last administration and parade them publicly in handcuffs. That will send out a better message than "we will".

Thank you! Unless that is done, everything other remains phoney to me!

atiakatata:
[s]Which special consideration for Terrorist states. How can you take Biafran money and start to share it among Parasite Terrorists in the North? This is abomination. Do they have oil? This another avenue for Northern Oligarchs to embezzle funds since the entire area is now made of desert.

This is criminal for the old dullard to give Biafran money to any state under special status or whatever.[/s]

Go to War!

Baba pls never you forget to deal with Suswam..

ROSSIKE:
Buhari, Order the arrest of a few big wigs from the last administration and parade them publicly in handcuffs. That will send out a better message than "we will".

Order their arrest for what?

kendrick9:
Will,will,will everytime.. since buhari took over, that word has been overused...Is he a fan of Will.i.am?
Buhari please get to work and stop blabbing

Maybe nigerians should rename him President Will.I.Am...

atiakatata:
Which special consideration for Terrorist states. How can you take Biafran money and start to share it among Parasite Terrorists in the North? This is abomination. Do they have oil? This another avenue for Northern Oligarchs to embezzle funds since the entire area is now made of desert.

This is criminal for the old dullard to give Biafran money to any state under special status or whatever.

You mean Biafra

Buhari should get work to recover whatever missing billions he can dream about. Like 99% of the things surround the alamjiri party, is all talk.

The Daura President can keep promising

Jorussia:
.This is a welcome development. I am happy that the states that are highly indebted will get a bailout.NPA,NNPC etc.should start paying all generated revenues into the federation account.

Men! People talk about NNPC because of the revenue generated there, but I tell you, NPA is the host of corruption in the country! Those people generate billions and share to themselves in the name of Salaries and Trainings. In fact that Agency is rotten!

Nkemtreasure:
[b]I thought that he inherited an empty treasury? So there is still some monies in the excess crude [/b]account?
Pls PMB should be careful of these governors because very soon they will also deny that they are about to collect money from ECA.
But can't our governors think of something else to do to raise money instead of every day waiting for Abuja to send us alert?
God help Nigeria

Don't confuse yourself here. The treasury is simply put our federation account. Our excess crude account is something that shouldn't even be touched.

But because were in a complete turmoil and almost reaching(ed) a failed state it is imperative that we use our emergency reserves(e.g excess crude account).

NgeneUkwenu:


Men! People talk about NNPC because of the revenue generated there, but I tell you, NPA is the host of corruption in the country! Those people generate billions and share to themselves in the name of Salaries and Trainings. In fact that Agency is rotten!

That's true. I am not a fan of most of these governors,because they behave like emperors.I believe that if leakages are blocked,there will be enough money to share.

NgeneUkwenu:


Men! People talk about NNPC because of the revenue generated there, but I tell you, NPA is the host of corruption in the country! Those people generate billions and share to themselves in the name of Salaries and Trainings. In fact that Agency is rotten!

That's true. I am not a fan of most of these governors,because they behave like emperors.I believe that if leakages are blocked,there will be enough money to share.CBN should be investigated also. the privatisation of P.H.C.N should be thoroughly probed.

atlwireles:
Buhari should get work to recover whatever missing billions he can dream about. Like 99% of the things surround the alamjiri party, is all talk.

The Daura President can keep promising

you need to be thoroughly examined, medically.