The Senate on Wednesday passed the about sixty-six billion naira (N65,905,252,467) budget of the Nigeria Police Trust Fund (NPFTF) for the year 2022.
The amount is made up of personnel expenditure of N948,810,609.29, total overhead costs; N8,857,106,527.44 and total capital expenditure of N56,099,335,330.35.
Senate passed the budget after it considered and adopted the harmonised report of its Committee on Police Affairs and that of the House of Representatives.
Presenting the report, the chairman of the Senate Committee on Police Affairs, Senator Halliru Dauda Jika, identified the revenue sources for the proposed budget as; 0.5% of the total revenue accrued to the federation account that amounts to N 52,569,086,241.00; 0.5% of total VAT at N 11,720,616,226.00; 0.05% of Net Profit of Companies in Nigeria at N 1,145,300,000.00 and aids, grants donations etc at N 470,250,000.
Explaining the reason the Fund was not able to implement its 2021 budget, Senator Jika attributed it to a court case filed by the River State government challenging the legality of deducting its money to finance the Fund.
According to him, it was based on that litigation that a directive was issued that all the monies accrued to the Fund be kept in an escrew account at the CBN pending the resolution of the matter.
He further clarified that the Attorney General of the Federation and Minister of Justice, Abubakar Malami had waded into the matter by advising that henceforth, only the share of the Rivers state should be domiciled in the escrew account, while other deductions be remitted to the Fund since it is the only state that filed the suit.
PIAK
