*Hon. Minister of State for Finance, Taiwo Oyedele The Federal Ministry of Finance has strongly refuted recent media reports alleging hidden spending and diversion of federation revenues, describing them as misrepresentations of the latest Nigeria Development Update released by the World Bank. In a press statement issued on Sunday, April 19, 2026, the ministry clarified that such claims stem from a misunderstanding of Nigeria’s fiscal system, particularly the operations of the Federation Account Allocation Committee (FAAC). The statement, signed by Honourable Minister of State for Finance, Taiwo Oyedele, emphasised that…
Read MoreFEDERAL MINISTRY OF FINANCE REJECTS CLAIMS OF HIDDEN SPENDING AND REVENUE DIVERSION IN WORLD BANK REPORT
