Excess Crude Accounts: Rivers Assembly Approves Deduction At Source For Debt Payment

The Rivers State House of Assembly has resolved and granted the request of the Executive to approve the deduction at source funds owed Federal Government from the funds due to the state from the excess crude accounts.

The House also approved that the consultant fees and tax be deducted at source and paid to the consultants already engaged by the Nigerian Governors Forum (NGF).

The was sequel to the request letter sent to the Assembly by the Governor, Bar. Nyesom Wike on the matter.

The lawmakers while debating on the request letter stressed the need to grant the request as sent to the House noting that it will afford the state to get whatever funds accrueable to it since whatever that is remaining after deduction will be handed over to the state.

They also said that the action will afford the state opportunity to access its own funds alongside other states adding that Rivers State requires more funds to chanel to development.

The lawmakers who unanimously endorsed the request said the action should not be delayed so that Rivers would not be left out in the comity of states as represented by the Nigerian Governors Forum.

It would be recalled that the Nigerian Governors Forum had in a meeting on Thursday 30th March 2023 deliberated on the outstanding 60% refunds to states from the excess crude accounts, Royalties  accounts, amongst others.

The Forum further wrote to states requesting documentation to conclude reconciliation and refund process which covers consent for 5% deduction as Consultancy fees to be paid to the consultants engaged by already NGF.

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