The Akwa Ibom state government has denied the widespread allegations that the state government misappropriated more than N186 billion in refunds to oil-producing states in the Niger Delta, describing them as politically motivated.
Obong Bassey Albert (OBA), a senator representing Akwa Ibom North-East, the Uyo senatorial district, and the Young Progressive Party (YPP)’s candidate for governor in the state, disclosed that the state government has received over $1.1 billion, or more than N600 billion, in derivation refund arrears.
However, Mr. Nsikan Linus Nkan, the commissioner for finance, informed journalists yesterday that the state government had received N186 billion in N160 billion tranches, while N41,434 billion was anticipated for 2022, of which N26 billion had been received as of the third quarter of 2022.
He stated using the implementation of the International Public Sector Accounting System, “it is impossible for any unaccounted expenditure to occur.”
He recalled that “the agitation for the refund of the arrears which were deducted from the earnings due to the oil-bearing states was undertaken by the affected Governors, directly and through their officers at the Federation Accounts Allocation Committee, (FAAC) which agreed with the very detailed submission and calculated the sums accruing to the states.
“However, due to the large amount involved and the inability of the federal government to pay all at once, it was agreed that the payments be made in tranches quarterly, over a period of five years.
