Disputed Oil Wells: RMFAC Okays Escrow Account for Rivers, A'Ibom

2011-05-10
THISDAY Newspaper

ABUJA — THE Revenue Mobilization Allocation and Fiscal Commission, RMAFC, yesterday, ordered that the monthly allocation, including the 13 percent Derivation Fund for Akwa Ibom and Rivers State be put in an escrow account pending the resolution of the dispute over the location of the 172 oil wells in the region.

The Commission’s position came at the end of its 53rd Plenary Session held in Abuja, where it decided among others, that “the amount due to Akwa Ibom and Rivers States for the months of February 2011 from the disputed areas in which the 172 oil wells are located be put into the escrow account,” pending the time the Inter-Agency Technical Committee on the Implementation of the Supreme Court judgment completes its assignment.

This, it said, was to ensure that equity, fairness and justice in the implementation of the judgment.

It will be recalled that following the Supreme Court’s judgment in the case of the Attorney General of Akwa Ibom State and Attorney General of Rivers State, on March 18, 2011, the Attorney General of the Federation and Minister of Justice wrote the Revenue Mobilization Allocation and Fiscal Commission, RMAFC to “advise relevant agencies” to comply with the judgment, especially the first order on page 16 of the lead judgment.

Consequent upon the Supreme Court’s judgment, RMAFC set up an Inter-Agency Technical Committee, which was inaugurated on April 13, 2011.

The technical committee was to examine the implementation of the judgment in all its ramifications as well as collate the data required to implement the judgment.

The judgment charged the committee to ascertain the crude oil and gas production date for the affected oil wells from April 2009 to March 2011.

 

Your comment

 

(E-mail)

 

 

 

News Archive