LAGOS—The estimated N1.75 trillion bailout funds disbursed by the Federal Government to states were illegally transferred, a two-time chairman of the Revenue Mobilization Allocation and Fiscal Commission, RMAFC, Engr. Hamman Tukur, has said.
Tukur in an interview, said President Muhammadu Buhari has no authority under the law setting up the Federation Account to touch the funds and also lacks authority to disburse the Federal Government’s entitlement of the Federation Account without the approval of the National Assembly.
His assertion was, however, challenged by the Nigerian Governors Forum, some senior lawyers and some legislators, who declared the disbursements as legal. The Centre for Anti-Corruption and Open Leadership, CACOL, also backed the disbursements in so far as it was done out of the federation account to which the beneficiaries of the loans were also stakeholders.