Bayelsa ready for dialogue with FG over court ordered $951m refund — Diri

Bayelsa State Governor, Senator Douye Diri, says the state government is open to dialogue with federal government to amicably resolve the issues bordering on the Court’s order on $591 million refund of 13% shortfall in oil derivation revenue due to the state.

The Federal High Court sitting in Abuja had on Monday ordered the federal government to refund $951 million shortfall in oil revenue due to the state in accordance with the 13% derivation principal.

• Fighting illicit financial flows: The way forward
• NIMASA seeks abolition of ships’ War Risk Insurance

Diri, while reacting to the judgement on Wednesday, appealed to the federal government to implement the Federal High Court judgement and restore the funds to the state.

The governor said in a statement by his Chief Press Secretary, Mr, Daniel Alabrah, said the money was due to the state based on the Constitution and the 13% derivation principle.