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Senate passes N66.9bn Police Trust Fund budget

The Nigeria Police Trust Funds budget for the year 2022 was approved by the Senate on Wednesday.

The total consists of staff expenses totaling N948,81 million, total overhead costs totaling N8,857 million, and total capital expenditures totaling N56,099 million.Infomation Guide Nigeria

The Senate approved the budget after reviewing and approving the harmonised report of its Committee on Police Affairs and the House of Representatives.

Senator Halliru Jika, chairman of the Senate Committee on Police Affairs, outlined the revenue sources for the proposed budget as follows: 0.5% of the total revenue accrued to the federation account, or N52.569 billion; 0.5% of the total VAT, or N11.720 billion; 0.5% of the Net Profit of Companies in Nigeria, or N1.145 billion; and aids, grants, donations, etc., amounting to N470.250 million.

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Jika cited a court lawsuit brought by the Rivers State government disputing the validity of removing its money to fund the Fund as the reason why the Fund was unable to implement its 2021 budget.

According to him, it was because of this litigation that the CBN issued a directive requiring all accruing Fund funds to be held in escrow pending settlement of the matter.Jamb Result 

He stated that the Attorney General of the Federation and Minister of Justice had intervened in the matter by advising that, henceforth, only the share of the Rivers State should be housed in the escrow account, while all other deductions were to be remitted to the Fund, as it was the only state to file the suit.

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Emediong Ekpe

Emediong Ekpe is a graduate of English. A professional Sports journalist/analyst, and a spoken word artist. He is passionate about decimating information and putting smiles on people's faces via news writing.

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