Bayelsa Threatens Court Action Against Federal Govt Over $1 billion ‘Security Fund'
The Bayelsa State Government has threatened to sue the Federal Government if it refuses to deduct the 13 per cent derivation component of the $1 billion Excess Crude Account funds it plans to withdraw to tackle insecurity in the country.
Governor Seriake Dickson had demanded that the 13 percent derivation component of the funds be deducted and deployed in the oil-producing states to address the peculiar security challenges in the region.
A statement by the Bayelsa government Saturday said although the President Muhammadu Buhari claims the $1 billion dollar would be used for security purpose, but many Nigerians doubt his sincerity.
The statement said the state government had also formally presented its position to the Vice President, Yemi Osinbajo, who is also the Chairman of the National Economic Council.
The State Commissioner for Information, Daniel Iworiso-Markson, said in the statement that the state government was insisting that the 13 per cent derivation component of the money be deducted and sent to the various oil producing states as earlier demanded.
Mr Iworiso-Markson quoted the State Governor, Seriake Dickson, as having explained that withdrawing the $1 billion without deducting and paying the 13 per cent derivation to the oil- producing states would amount to arm-twisting them to make double contributions to the security funds.
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Governor Seriake Dickson had demanded that the 13 percent derivation component of the funds be deducted and deployed in the oil-producing states to address the peculiar security challenges in the region.
A statement by the Bayelsa government Saturday said although the President Muhammadu Buhari claims the $1 billion dollar would be used for security purpose, but many Nigerians doubt his sincerity.
The statement said the state government had also formally presented its position to the Vice President, Yemi Osinbajo, who is also the Chairman of the National Economic Council.
The State Commissioner for Information, Daniel Iworiso-Markson, said in the statement that the state government was insisting that the 13 per cent derivation component of the money be deducted and sent to the various oil producing states as earlier demanded.
Mr Iworiso-Markson quoted the State Governor, Seriake Dickson, as having explained that withdrawing the $1 billion without deducting and paying the 13 per cent derivation to the oil- producing states would amount to arm-twisting them to make double contributions to the security funds.
PREMIUM TIMES
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