• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Friday, August 1, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Akwa Ibom Denies Misappropriating N186bn 13% Derivation Refunds

by Iniobong Ekponta
3 years ago
in News
Akwa Ibom Denies Misappropriating N186bn 13% Derivation Refunds
Share on WhatsAppShare on FacebookShare on XTelegram

Contrary to widespread criticisms of misappropriation of the over N186 billion refunds by the federal government to oil producing states in Niger Delta, Akwa Ibom state government has dismissed the allegation, describing it as politically-motivated.

Advertisement

The senator representing Akwa Ibom North-East, Uyo senatorial district and governorship candidate of the Young Progressive Party (YPP) in the state, Obong Bassey Albert (OBA) had revealed that the state government has received over $1.1 billion equivalent to over N600bn as arrears of the the derivation refund.

However, while briefing journalists yesterday the commissioner for finance, Mr. Nsikan Linus Nkan, said the state government had received a total of N186bn in tranches of N160 billion, while N41,434 billion was projected for 2022, out of which N26 billion as at third quarter of 2022, had been received.

He said with 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.

RELATED

Fayose Behind PDP Collapse In Ekiti, Says Senator Olujimi

Fayose Behind PDP Collapse In Ekiti, Says Senator Olujimi

47 seconds ago
WFD Report Reveals Inclusivity, Legal Compliance Gaps Among Political Parties

WFD Report Reveals Inclusivity, Legal Compliance Gaps Among Political Parties

4 minutes ago

“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.

“In 2021, the sum of N160 billion was remitted to the state account. In 2022, the projected income from this source was N41.3 billion, but as at Q3, the sum of N26 billion, has been received.

“In line with proper financial records keeping and public finance transparency, the refund was reflected in the 2021 budget as ‘Other Exceptional income’

“We therefore urge the entire public to ignore the various figures bandied around on various media platforms, as those are nothing more than fiction,” he stressed.

 

 


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel




Tags: Akwa Ibom StateUdom Emmanuel
SendShareTweetShare
Previous Post

Abuja-Kaduna Rail Well-secured – Minister

Next Post

Retrogressive Agents Are Against Obi, Says Abia Assembly Candidate

Iniobong Ekponta

Iniobong Ekponta

You May Like

Fayose Behind PDP Collapse In Ekiti, Says Senator Olujimi
News

Fayose Behind PDP Collapse In Ekiti, Says Senator Olujimi

2025/08/01
WFD Report Reveals Inclusivity, Legal Compliance Gaps Among Political Parties
News

WFD Report Reveals Inclusivity, Legal Compliance Gaps Among Political Parties

2025/08/01
Festus Keyamo
Business

FG Approves N920bn Lagos Airport Reconstruction, 6 Other Aviation Projects

2025/08/01
SDP Chieftain Urges Politicians To Shun Hate Speech During Campaigns
News

SDP Leaders, Stakeholders Meet Over Crisis

2025/08/01
Enugu IPAC Applauds CP On Efforts To Sustain Peace
News

2027: Political Parties Push For Electoral Reforms

2025/08/01
Firm Holds Masterclass For Law Students, Trains 600
Education

Stakeholders Urge Students To Prioritise Skills’ Acquisition

2025/08/01
Leadership Conference advertisement

LATEST

Fayose Behind PDP Collapse In Ekiti, Says Senator Olujimi

WFD Report Reveals Inclusivity, Legal Compliance Gaps Among Political Parties

FG Approves N920bn Lagos Airport Reconstruction, 6 Other Aviation Projects

Police Arrest 13 Suspected Armed Robbers, Cultists In Enugu

Igbo Community Endorses Governor Mutfwang For Second Term

Rivers APC Factional Chairman Writes Yilwatda, Seeks Recognition

SDP Leaders, Stakeholders Meet Over Crisis

Address Killings In Imo, PDP Tells Gov Uzodimma

2027: Political Parties Push For Electoral Reforms

Tinubu Will Get 15m Votes In 2017- APC Chieftain

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.