Forex accruals: Finally, state governors remove their blinkers!!

“T he 36 state governors intend  to demand that “their states’ share and those of the local governments from the Federation account” revenue accruals be distributed in the selfsame currency collected. That intention is borne out of dissatisfaction with net Federation Account (FA) oil export proceeds made available for distribution among beneficiaries, after the unilateral deductions by NNPC of amounts to offset self-styled petrol price under-recovery”. (Guardian Newspaper Editorial of October 28, 2019, titled “Pay Federation Account Oil Accruals in dollars”).
Continue reading Forex accruals: Finally, state governors remove their blinkers!! at Vanguard News.

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