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OVER 63 Billion Naira Of Desopadec Fund Unaccounted For By OkOWA

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OVER 63 Billion Naira Of Desopadec Fund Unaccounted For By OkOWA

  • 8th, Aug 2017.

 

Whistleblowers

The governor of Delta State and members of his unrivalled inept EXCO should tell us what their government has done with the statutory earnings of DESOPADEC since May 2015 to June 2017. How much has been released and when? Please note that these are statutory, in other words, it’s a 1st charge compulsory releases independent of government debt profile.
It should not and cannot be treated as Paris Club Debt Refunds that we understand the pdp government has misappropriated leading to it ZENITH BANK ACCOUNT being frozen by a competent Law Court.
Deltans need explanation so we can move to other pending issues.

Total 13% DERIVATION AMOUNT DUE TO DESOPADEC
FUND FROM FAAC AS 50% OF THE 13% FROM MAY 2015 TO JUNE 2017

May 2015: 5,678,355,659.46 2,839,177,829.73
Jun. “ 7,942,766,985.64 3,971,383,492.82
Jul. “ 6,922,177,277.79 3,461,088,638.89
Aug. “ 6,209,611,916.47 3,104,805,958.23
Sep. “ 6,597,077,500.30 3,298,538,750.15
Oct. “ 6,852,489,946.21 3,426,244,973.10
Nov. “ 5,957,285,179.40 2,978,642,589.70
Dec. “ 6,484,943,998.60 3,242,471,999.30

Jan. 2016: 6,871,247,082.95 3,435,623,541.47
Feb. “ 5,728,691,450.54 2,864,345,725.27
Mar. “ 6,249,837,660.14 3,124,918,830.07
Apr. “ 5,373,451,196.92 2,686,725,598.46
May. “ 3,105,389,980.98 1,552,694,990.49
Jun. “ 2,807,735,938.10 1,403,867,969.05
Jul. “ 2,802,782,410.04 1,401,391,205.02
Aug. “ 2,118,119,870.27 1,059,059,935.13
Sep. “ 3,849,685,588.90 1,924,842,794.45
Oct. “ 2,555,294,615.70 1,277,647,307.85
Nov. “ 3,103,159,748.09 1,551,579,874.04
Dec. “ 2,945,567,211.50 1,472,783,605.75

Jan. 2017: 3,089,468,308.35 1,544,734,154.17
Feb. “ 5,728,691,450.54 2,864,345,725.27
Mar. “ 4,787,930,884.16 2,393,965,442.08
Apr. “ 4,427,686,762.82 2,213,843,381.41
May. “ 4,196,348,111.22 2,098,174,055.61
Jun. “ 4,181,841,184.45 2,090,920,592.22

*TOTAL 126,567,637,919.54 63,283,818,959.73

The Delta State government has so far received a total of N126,567,637,919.54 (One hundred and twenty-six billion, five hundred and sixty-seven million, six hundred and thirty seven thousand, nine hundred and nineteen naira, fifty four kobo) as 13% derivation fund from the Federal Account Allocations Committee (FAAC) from May 2015 to June 2017.

*Sources: Office of the Accountant-General of the Federation (http://oagf.gov.ng), National Bureau of Statistics and Federal Ministry of Finance.

In line with the Law setting up the Delta State Oil Producing Areas Development Commission (DESOPADEC), 50% of the total amount received by the government as 13% derivation fund statutorily ought to accrue to the Commission. And going by the above computation, the Commission ought to have received a total of N63,283,818,959.73 (Sixty-three billion, two hundred and eighty three million, eight hundred and eighteen thousand, nine hundred and fifty nine naira, seventy-three kobo only), from May 2015 to June 2017.

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