FAAC Allocations
EKO HOT BLOG reports that the the Socio-Economic Rights and Accountability Project (SERAP) has taken legal action against Nigeria’s 36 state governors and the Minister of the Federal Capital Territory (FCT), Abuja, Nyesom Wike.
The lawsuit, initiated on Friday at the Federal High Court in Abuja, demands accountability for the trillions of naira allocated by the Federation Account Allocation Committee (FAAC) to these states and the FCT since 1999.
This development comes after FAAC disbursed significant amounts of funds in recent months: N1.123 trillion in March 2024 and N1.208 trillion in April 2024. Of these amounts, state governments collected N398.689 billion in March and N403.403 billion in April.
According to SERAP’s Deputy Director, Kolawole Oluwadare, the lawsuit seeks a court order to compel the governors and the FCT minister to publicly disclose detailed spending records of the FAAC allocations.
This includes providing lists and locations of projects executed with the funds. Furthermore, SERAP is asking the court to direct these officials to invite the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate any corruption allegations linked to the allocations.
SERAP emphasized that the Nigerian public deserves to know how public funds, including FAAC allocations, are spent by their governors and the FCT minister.
The organization argues that transparency in the spending of these allocations is crucial for public trust and accountability.
FAAC Allocations
The alleged mismanagement and lack of accountability in the use of these funds have continued to undermine the welfare of citizens, as reflected in widespread poverty and insufficient access to essential public services.
The lawsuit highlights the importance of transparency, noting that despite increased FAAC allocations, millions of Nigerians continue to face extreme poverty and lack basic amenities. SERAP asserts that compelling the governors and the FCT minister to disclose spending details would serve the public interest, promote transparency, and reduce corruption risks.
The organization also calls for detailed disclosures on how the allocations are spent on salaries, pensions, and public projects, particularly in health and education sectors.
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