Yevgeny:



So If Buhari says the treasury is empty will he be referring to the federal account that he has jurisdiction over or the federation account where his claims can be easily refuted by opposition governors who are privy balance?

Use your deductive reasoning and stop spamming Nairaland with your nonsense. You think you are smart but you really aren't.

Whynotthetruth:


smh... Mr Interpreter did you answer my question with this ridiculous analogy now?... What is the meaning of "treasury"?...does empty treasury as used by buhari not all encompassing?... was their any form of distinction?...Keep running in circles...just provide simple straightforward answers to my questions...let's know who the ignoramus is here?

biafranqueen:
hahahaha

Alphaoscar:
It is baffling that our Tanoid friend didn't know that their is a different account where moneys belonging to the federal government and another account belonging to all the governments of (federal, states and local governments).


When Buhari said he met an empty account he was referring to the account directly under his jurisdiction, account where money for the runnings of the FG programs are kept and drawn.


Surprisingly, both the Ex-minister and his Tanoids goons claimed there is up to $30b in excess crude account, sovereign wealth fund etc which are monies primarily saved for different purposes and the FG can not withdraw from those accounts without the consents of the other tiers of the government.


The minister and his boys should rather tell us how much GEJ left in the FG's account or they should just shut up.

barcanista:
My Dear e be like say dem wan begin thief in Advance o

Yevgeny:



So If Buhari says the treasury is empty will he be referring to the federal account that he has jurisdiction over or the federation account where his claims can be easily refuted by opposition governors who are privy balance?

Use your deductive reasoning and stop spamming Nairaland with your nonsense. You think you are smart but you really aren't.

Sunnybobo3:



........from empty treasury


http://www.punchng.com/news/fg-states-lgs-share-n418bn-may-allocation/

FG, states, LGs share N418bn May allocation

Alphaoscar:




You are the ignorant party here Bro. Buhari claimed he met an empty treasury which means all the money accrued to the FG from the federation account ( from Jan - May) had been spent by the outgoing government of GEJ and instead of leaving money behind in the federal account for the running of the FG programs, he was left with an empty account.


The minister that tried to debunk his claims only refer to the monies which ordinarily should be in the federation account because the money he was referring to belong to all the tires of government until they share the money according to the sharing formula, the money in those accounts (ECA, SWF, FIRS etc) you and the Ex-Minister quoted belong to every tiers of the government and they are not FG's money.


Federation account is like a family account which you as the head or tail of your family can't claim to be yours until shared while federal govt account is like your personal money which your family members can't its ownership with you.

Alphaoscar:





Meeeehn, you are the one not making sense here Bro.

Ask yourself why most of the new Governors including your wike have been making noise that they met empty treasury when those Governors paid salary, execute projects etc?


FYI, the FG's share from the federation account is paid into the federal Government account and that money is not meant to be whole spent or exhausted month in months out. Incase of emergency after the sharing of the monthly allocations where did you think the money to attend to that emergency will come from if their is not suppose to be savings? The budget you are referring to cover a whole year not a monthly thing and the revenues are supposed to be managed to fund that budget throughout the year not on monthly basis.

Meeehn!!! NA wah for you o.

Sunnybobo3:



........from empty treasury


http://www.punchng.com/news/fg-states-lgs-share-n418bn-may-allocation/

FG, states, LGs share N418bn May allocation

biafranqueen:
Yesoo look how US say dey go help him look for money abroad so he can finish the foreign reserve. 9ja shine ur eye's even if you be blind this one easy to spot...

Alphaoscar:



I have no time to waste with a thing like you. I knowingly chose to come down to your layman level hoping you will understand but it is certain that your case is hopeless.

Whynotthetruth:


1)Do you know that federal government work based on budgets?

2)Do you know that these budgets are made up of allocation to different ministries, parastatals and MDAS?

3)Do you know these components federal government run independent of each other?

4)Do you know that revenues accrue every month?

5)So when and how did Jonathan collect May revenue as you opined if the month is yet to end before he handed over?

6)From which account did buhari see the fund he ordered should be released to MJTF?

7)Which fund was he asking the perm secs through memo from head of civil service to reconcile?

Has buhari looked at the 2015 budget?...and its funding?...

barcanista:
It is very clear that you are speaking out of Ignorance. Every month the FG allocates monies to MDAs, pay contractors, pay workers and also earn salaries. All these monies are drawn from the FG Account. Because most times there is shortfall in revenue or due to unforseen circumstannces, even the allocation to the FG is not always enough. Why do you think the FG had to borrow $1b dollars to fund the military last year? Why do you think the FG had to borrow to make up payment of wages and salaries? Do you think monies fall from the sky or there is a Big money somewhere? The FG exhaust every dime in the FG Account because it is meant for that purpose. You will complain if salaries are not paid. Ask Aregbesola or any governor how things are done.
As for crises/emergency, the Sovereign Wealth Fund/ECA is statutorily meant to take care of that and NOT FG share of revenue allocation. You should stop arguinng what you don't know.
The FG Account isn't for safe-keeping!

barcanista:
It is very clear that you are speaking out of Ignorance. Every month the FG allocates monies to MDAs, pay contractors, pay workers and also earn salaries. All these monies are drawn from the FG Account. Because most times there is shortfall in revenue or due to unforseen circumstannces, even the allocation to the FG is not always enough. Why do you think the FG had to borrow $1b dollars to fund the military last year? Why do you think the FG had to borrow to make up payment of wages and salaries? Do you think monies fall from the sky or there is a Big money somewhere? The FG exhaust every dime in the FG Account because it is meant for that purpose. You will complain if salaries are not paid. Ask Aregbesola or any governor how things are done.

As for crises/emergency, the Sovereign Wealth Fund/ECA is statutorily meant to take care of that and NOT FG share of revenue allocation. You should stop arguinng what you don't know.

The FG Account isn't for safe-keeping!

Whynotthetruth:


If only the madman knows that he is mad...smh

Alphaoscar:




You just confirmed my assertion that most of you Tanoids are empty and ignorant vessels.

The money to be shared in that link is from the FEDERATION account which Buhari as the President have no power on because it is like a family account but Buhari was complaining about the federal government account which is empty as at the time he took over.


The foolish Ex-Minister just displayed his unclothedness in the open and all of you are towing his part ignorantly. Wait till learned people in the public sector accounting descend on his stupid life from tomorrow and you will feel sorry.

donphilopus:
I can see a gathering of nincompoops. Y'all should continue in your foolery!

barcanista:
It is very clear that you are speaking out of Ignorance. Every month the FG allocates monies to MDAs, pay contractors, pay workers and also earn salaries. All these monies are drawn from the FG Account. Because most times there is shortfall in revenue or due to unforseen circumstannces, even the allocation to the FG is not always enough. Why do you think the FG had to borrow $1b dollars to fund the military last year? Why do you think the FG had to borrow to make up payment of wages and salaries? Do you think monies fall from the sky or there is a Big money somewhere? The FG exhaust every dime in the FG Account because it is meant for that purpose. You will complain if salaries are not paid. Ask Aregbesola or any governor how things are done.

As for crises/emergency, the Sovereign Wealth Fund/ECA is statutorily meant to take care of that and NOT FG share of revenue allocation. You should stop arguinng what you don't know.

The FG Account isn't for safe-keeping!

Whynotthetruth:


You keep running in circles here...

After sharing of money between the different tiers of government...

Federal government takes its share to now allocate to its component parts including paying of contractors and salaries...

Now funds allocated to individual ministries etc are used by them independently as allocated by president probably based on scale of preference...

Whatever emergency is taking care of by mopping up funds from these components parts of federal government(viz; ministries, agencies, etc)...

Stolen:
This is Front Page material, barcanista have done it again.

StOla:


I have once berated him for that habit of calling on his gang who are of lower intellect than him to come finish his dirty work.

Anyone on that list of his truly merit my sympathy which I give most generously.

It is truly sad when you're only called upon to come work for the economic security of another.

barcanista:
That guy doesn't even know how MDAs and FG projects are funded. Him think say e get one big money wey dem de share give FG beginning of every year.

barcanista:
Where is Alphaoscar? Come get schooled

StOla:


I'm not a political jobber mate. I'm just a patriotic critic.

I see from the list that you're one of the chosen ones always called upon to help get the thread going with posts when things don't move as fast as anticipated. That is what your principal has reduced himself to, even begging for front page.

You all are just an association of dull jolly friends. Keep looking up to him.

Alphaoscar:




Aaaaaah Bacarnista, stop disgracing yourself Bro.


It is good you admit all there is no dime in the federal account as at when your principal left the saddle.


And the Federal government can NOT just dip their hands into the ECA or SWF incase of emergency because that money is not solely FG's money. FYI, both ECA and SWF accounts are illegal accounts introduced by the PDP and the money in those accounts ordinarily suppose to be shared by all the tiers of government through the federation account and will still be shared according to the revenue sharing formula.



And to the bone of contention, it is financially unhealthy and a very bad practice for the government to be exhausting all the money in her account on a monthly basis . The revenue accrued to the FG from the federation account will go to the federal government account and that money is supposed to be managed and used to run the FG's programmes atleast till another revenue will be shared from the federation account.

Whynotthetruth:


People can be funny...Maybe he believes the federal government has one big account where president will put his hand and be dashing out money...withOUT knowing that as these monies are shared between tiers of government... federal government in turn shares to its component parts based on budgetary allocations using scale of preference...

Alphaoscar:




Aaaaaah Bacarnista, stop disgracing yourself Bro.


It is good you admit all there is no dime in the federal account as at when your principal left the saddle.
And the Federal government can NOT just dip their hands into the ECA or SWF incase of emergency because that money is not solely FG's money. FYI, both ECA and SWF accounts are illegal accounts introduced by the PDP and the money in those accounts ordinarily suppose to be shared by all the tiers of government through the federation account and will still be shared according to the revenue sharing formula.
And to the bone of contention, it is financially unhealthy and a very bad practice for the government to be exhausting all the money in her account on a monthly basis . The revenue accrued to the FG from the federation account will go to the federal government account and that money is supposed to be managed and used to run the FG's programmes atleast till another revenue will be shared from the federation account.

barcanista:
Mr man you are talking NONSENSE! The treasury (that is where treasures are kept aka savings) are the External Reserve and Excess Crude Account/SWF. For Buhari to say "the treasury is empty" means he doesn't know jack.

The FG account is not a Savings Account and it is not meant to be. I don't like repeating myself! Whatever goes in there is used for statutory budgetary purpose. Your Amaechi lied that the ECA is depleting now you are saying that the FG can't just dip their hands. Who is saying that the FG can dip their hand as they like? Abeg no find hiding route. Whether the ECA is created by Obj or FG is not the argument here, the function of the Account is to SAVE for emergency. It is the second savings account after External Reserve.

Don't even try to ddigress because you have no clue! How much does the FG receive monthly? How much is the wage bill monthly? How much do they release to fund projects and pay contractors? How much goes to MDAs? Do Buhari or any sane person expect anybody to keep left over in the FG account when the money isn't enough to meet FG obligations in the first instance? Do you think they borrow for fun? For the last time, FG account is not a savings account. The accounts meant for hard times is the ECA/SWf and Reserve when the ECA couldn't bear the weight.

You have learnt something tonight!

barcanista:
Mr man you are talking NONSENSE! The treasury (that is where treasures are kept aka savings) are the External Reserve and Excess Crude Account/SWF. For Buhari to say "the treasury is empty" means he doesn't know jack.

The FG account is not a Savings Account and it is not meant to be. I don't like repeating myself! Whatever goes in there is used for statutory budgetary purpose. Your Amaechi lied that the ECA is depleting now you are saying that the FG can't just dip their hands. Who is saying that the FG can dip their hand as they like? Abeg no find hiding route. Whether the ECA is created by Obj or FG is not the argument here, the function of the Account is to SAVE for emergency. It is the second savings account after External Reserve.

Don't even try to ddigress because you have no clue! How much does the FG receive monthly? How much is the wage bill monthly? How much do they release to fund projects and pay contractors? How much goes to MDAs? Do Buhari or any sane person expect anybody to keep left over in the FG account when the money isn't enough to meet FG obligations in the first instance? Do you think they borrow for fun? For the last time, FG account is not a savings account. The accounts meant for hard times is the ECA/SWf and Reserve when the ECA couldn't bear the weight.

You have learnt something tonight!

barcanista:
Most of them Àre trolls without a single idea on how things work. That is how they were shouting that Nigeria can afford to pay 25m people 5k allowance monthly. They think there is one BIG money somewhere that the President make use of

GOATandYAMtheory:
You have said it all. Barcanista knows his threads lack common sense(empty), so he mentions all his fellow nincompoops to help him keep them(threads) alive. You ll observe he(barca) comments a million times on every thread of his and then his fellow nincompoops(Donphilopus, ur permission) will help him keep the thread going. My advice is that we ignore his threads. Let he and his fellow E-diots feast on them as much as they want.

you are far more enlightened than the foolish yesman called whynotthetruth..if barca opens a thread to insult him, the f00l will still say yes to it. He has got no direction. don't play 'fighting words' with him.

Whynotthetruth:



Smh... nawa for this kind professor...

1)Which emergency bro?...so what's the essence of planning?...what's the need of budget?...eg; when Ebola came, how did Jonathan fight it?...what's the essence of allocation to ministries, agencies etc?

2)Do you know the reason behind SWF?...

3)If there's no dime...so why is buhari circulating memo to reconcile account with ministries and agencies?...From where did he see the money sent to MJTF?

Nawa for people ooo