The Nigerian government says the more than two point seven trillion naira balance in the Treasury Single Account domiciled in the Central Bank belongs to federal, state governments and the NNPC and not the central government alone.
TVC News National Assembly Correspondent, Sumner Sambo reports that Federal lawmakers have summoned government officials to a hearing to inform Nigerians on the state of the 2016 budget implementation as the
fiscal year gradually winds down.
They ask questions on disbursement of funds, areas granted priority attention due to revenue shortfalls and why the government is borrowing when there is so much money in the Treasury Single Account.
The government says it has performed excellently in the areas of disbursing funds for the construction of critical national infrastructure and other capital projects having released about 870 billion naira so far.
The government also says about five point one trillion Naira has so far been released for all expenditure and capital components of the 2016 budget even as they await the quick passage of the 2017 budget.