From Femi Folaranmi, Yenagoa
The Bayelsa State Government has again declared that it has nothing to hide from Bayelsans regarding the funds accrued to the state from the Federal Government.
Commissioner for Information, Orientation and Strategy, Mr Ayibana Duba who stated this during the monthly transparency briefing for the month of September and October said the Governor Douye Diri had ensured that funds are judiciously used for the development of the state.
According to him, the state government has been consistent in giving updates of funds accrued to the state through its finance team.
Speaking on behalf of the finance team, Technical Adviser to the Governor on Treasury and Accounts, Mr Timipre Seipulo said the state government has received N90billion from the Excess Crude Account (ECA) as at October 2022.
Seipulo clarified that contrary to what is being speculated in some quarters, funds from the ECA were paid quarterly from the Federation Account and not monthly.
According to him the state government had a net receipt of N20.24bn for September 2022 which accrued to the state government from the Federation Account Allocation Committee while total FAAC deductions stood at N1.592bn. Seipulou also announced N27.561bn net receipt for October 2022 and N1.6bn as total FAAC deductions.