Nig Is Cash-strapped&can’t Pay Monthly State Allocations&nysc Allowance - Okonjo

Sources in several state governments as well as the Federal Ministry of Finance have disclosed to SaharaReporters that Nigeria’s cash flow woes appear to be worsening. For the second month in a row, the Nigerian government was unable to meet the schedule for disbursing monthly allocations from the federation account to states.

Our sources accused President Goodluck Jonathan’s administration of depleting the country’s foreign reserves and recklessly overspending budgeted funds.

One source revealed that the Federal Ministry of Finance has paid March monthly allocations only to some states. The allocations for April and May 2012 remain unpaid. As a result of what some of the sources described as a major cash flow crisis, many civil servants and National Youth Corps members have yet to receive their April salaries or allowances.
In addition, the meeting of the Federal Accounts Allocation Committee (FAAC) has been postponed indefinitely after the secretariat said the earlier meeting scheduled for today and tomorrow was no longer feasible. SaharaReporters obtained a text message announcing the cancellation of the meeting. Sent by Philip K. Angulu, the terse message apologized to recipients for any inconveniences caused by the postponement.

SaharaReporters learnt that the Nigerian National Petroleum Corporation (NNPC) has not been able to make regular payments to the federation accounts as oil marketers and corporation are now deducting their share of profit in offshore accounts to avoid dealing with local bureaucratic bottlenecks. A source within the Presidency described Mr. Jonathan as a confused pawn in the hands of members of his security team who manipulate him to approve huge “security votes” for the so-called fight against terrorism. “Many of the president’s security advisers just keep deceiving him into releasing more and more cash to them – and they have nothing to show for it,” said the source.

Another source in the Central Bank told SaharaReporters that fuel marketers continue to defraud Nigerians with undocumented and fraudulent claims. “As we speak, I can tell you that the government has virtually spent this year’s budget for fuel subsidies – and we are only in the middle of May,” said the source. He added, “Nigerians are calling on President Jonathan to prosecute those who committed fraud in collecting fuel subsidies in the past. They don’t know that the fraud has actually increased this year.”

One of our sources accused Christopher Kolade, the chairman of the Subsidy Reinvestment and Empowerment (SURE) Committee, of deliberately misleading Nigerians when he claimed that N60 billion has been saved for the implementation of the phantom palliative program put in place by Mr. Jonathan’s government to pacify Nigerians who thronged the streets of Nigerian and foreign cities in January to protest the removal of fuel subsidy. “Dr. Kolade knows that no such fund exists,” said the source, a ranking official in the federal government.

http://247nigerianewsupdate.com/nigeria-is-cash-strapped-and-cant-pay-monthly-state-allocations-and-nysc-allowances/

Most times,the idea that am a full blooded Nigerian scares the shit outa me.

Blame it on buhari

Why is there never cash issues when ministers, senators are to be paid

Always the common man and the all-suffering corp members bears the burden.

Yes Please.

I support you, Bros.

Let's blame this also on Buhari.


BUHARI THIS!!!
BUHARI THAT!!!
BUHARI HAVE CHOP NIGERIA MONEY!!!


Mscheww. Nation of Cretins.

jensinmi: Yes Please.

I support you, Bros.

Let's blame this also on Buhari.


BUHARI THIS!!!
BUHARI THAT!!!
BUHARI HAVE CHOP NIGERIA MONEY!!!


Mscheww. Nation of Cretins.

This is what happend when a country is ruled by a cluelless president.

Chinua Achebe's words come to mind -"the center cannot hold"! All the noise about this being an innocent government that inherited "trouble" will soon go out the window when the profligacy of this administration runs Nigeria aground!

We will then be forced to ask where the reserves, ECA etc all disappeared to! Plus in May, the annual budget for "subsidy" is gone? Wow, how fresh this air is

Those who feel the country will break & thus are advocating for the spoilers will find themselves regretful of the support they offer despoilers now!

instead of you sending money to abuja, while dont you allow the state to collect taxes themself, that way, there is no need to share money in abuja. Where in the world do you see where they do that. When last have you watch CNN and see Obama distribute Ghana most go bag. You hand over all hospital, universities and other facilities to the state and let them take care of it.. and collect taxes from their people to maintain it.

When some of us pointed out the wanton and wasteful spending overseen by GEJ in Bayelsa, we were shouted down.

Now states cannot get allocation, NYSC members cannot be paid and even the buses promised as a palliative measure to subsidy withdrawal have not been paid for.

Even guys like OBJ and Yara who ruled when Nigerian oil capacity was halved by militancy never failed to meet their obligations.

Thats what you get with GEJ's style of "Government by Ghana-must-go-bag"

Even Okonjo cant help him.

Ibime: When some of us pointed out the wanton and wasteful spending overseen by GEJ in Bayelsa, we were shouted down.

Now states cannot get allocation, NYSC members cannot be paid and even the buses promised as a palliative measure to subsidy withdrawal have not been paid for.

Even guys like OBJ and Yara who ruled when Nigerian oil capacity was halved by militancy never failed to meet their obligations.

Thats what you get with GEJ's style of "Government by Ghana-must-go-bag"

Even Okonjo cant help him.

How can an intelligent man like you believe that?
That bus story was just that,a story.

Press Release

Transition to better accounting system caused delay in corps members’ allowance

The attention of the Honourable Minister of Youth Development, Mallam Bolaji Abdullahi has been drawn to the controversy and speculation in the media over the delay of the April allowance of corps members.

The Minister has been informed that this delay is not unique to corps members but also affects some civil servants in the employ of the Federal Government.

“It is not deliberate but as a result of the transition to the new and better secured Integrated Payroll Payment System, as part of Government’s commitment to transparency and accountability,” he said.

The Minister has however been assured by the National Youth Service Corps (NYSC) that by this weekend all administrative issues pertaining to the allowance of corps members would be sorted out and they could look forward to receiving their April and May allowances.

He regrets whatever inconvenience this delay might have caused our loyal and dutiful corps members, and urged them to continue to serve Nigeria selflessly.


Julius Ogunro
Special Assistant (Media) to Hon. Minister
15th May 2012

Is the source of this news a corper ? We have not seen states and other MDAS complaining or am i missing something here ?

No wahala.. time will tell!!!

Na who broke Nigeria ?

This country is in trouble with GEJ .MFR, slowpoke of the Federal Repulic) dat guy can not find his way out of Patience`s Blouse.

but mr presy still has 3m to feed himsef everyday

Inspite of removing fuel subsidy, To hell with PDP, To hell with Gej.

I think NL should be closed down for bringing stories without legit sources to frontpage

Tufakwa!!! Time to leave this country. Buuh wait ooh, why did i vote 4 this aimless being......anyway time wil tell!

grafikii: Blame it on buhari

y blame it on Buhari? If no reasons then u ar a fuuuuuuuuuuuuuuuuuul

What a hopeless country we found ourself living.

GEJ:

Nation of Cretins.

Equally ruled by cretins

Why won't Nigeria broke?
Blame it on Senators and REPs who spends 25.4% of Total budget!
Chai Naijaaaaaa.

LeoMax: I think NL should be closed down for bringing stories without legit sources to frontpage

Guy, what other prove do you need?

Sweetjoe: Tufakwa!!! Time to leave this country. Buuh wait ooh, why did i vote 4 this aimless being......anyway time wil tell!

You Voted For Him, for the following reasons:
1. You believed a man who have not achieved anything since 1999 will start performing wonders overnight.
2. That even if he surrounded himself with Nigeria's finest criminals, that it will not matter.
3. That you are voting for GEJ and not PDP.
4. That Nigeria will be governed by LUCK and you even hope that by voting him you too will become LUCKY (hope you where not going for lottery).
5. You also believed that to become a good president of Nigeria, we needed someone with BSc in Fisheries and PhD in Zoology.
6. And as Onye Igbo, you thought because his mum hailing him Azikiwe, his Ijaw name Ebelemi being abbreviated Ebele and marrying from Igboland makes an Igboman and qualifies him to take the turn of Ndigbo as well.

The list goes on. But at the interim, just face front, open your mouth and enjoy the heart-breaking fresh air!

jensinmi: Yes Please.

I support you, Bros.

Let's blame this also on Buhari.


BUHARI THIS!!!
BUHARI THAT!!!
BUHARI HAVE CHOP NIGERIA MONEY!!!


Mscheww. Nation of Cretins.

Buhari is turning-out to be a legendary visionary- I believe there is a Political ideology that we should called Buharism. The man has not even spoken up to a week and the things he speaks about are happening.

Dear blind supporters of GEJ,
Feel free to support him in his electoral Abracadabra come 2015. You have not yet seen hunger O, this is just an appetizer and please don't complain if your salaries and allowances (for NYSC members) are not paid. It is part of the transformation agenda to make you cash-less.

***Dem will vote for Goodluck Jonaaaaa ***

This what you get when you vote a man as president and not his party. I would have laughed, but I cant laugh because all of us we probably bare the consequences of what you guys did in April 2011.

egift:

You Voted For Him, for the following reasons:
1. You believed a man who have not achieved anything since 1999 will start performing wonders overnight.
2. That even if he surrounded himself with Nigeria's finest criminals, that it will not matter.
3. That you are voting for GEJ and not PDP.
4. That Nigeria will be governed by LUCK and you even hope that by voting him you too will become LUCKY (hope you where not going for lottery).
5. You also believed that to become a good president of Nigeria, we needed someone with BSc in Fisheries and PhD in Zoology.
6. And as Onye Igbo, you thought because his mum hailing him Azikiwe, his Ijaw name Ebelemi being abbreviated Ebele and marrying from Igboland makes an Igboman and qualifies him to take the turn of Ndigbo as well.

The list goes on. But at the interim, just face front, open your mouth and enjoy the heart-breaking fresh air!

Bros. ehn, I was about to log-off but I had to salute your eloquence in dissing discordantly-minded, feeble, fuzzy-wuzzy people. #Classic