The Federation Account Allocation Committee (FAAC) has shared ₦1.578 trillion among the Federal Government, states and local governments for the month of March. This is according to a communiquĂ© issued by FAAC and made available by the Director, Press and Public Relations, Office of the Accountant-General of the Federation, Bawa Mokwa, on Saturday. According to…
The Federal Government, States, and Local Government Councils have shared a total of N1.703 trillion from the Federation Account revenue for January 2025. This figure represents a notable 19.6% increase, or N279 billion, compared to the N1.424 trillion shared from December 2024 revenue. A press release issued by Bawa Mokwa, Director (Press and Public Relations)…
The Federation Accounts Allocation Committee (FAAC) meeting scheduled for Wednesday was postponed due to a dispute between states and the Nigerian National Petroleum Company (NNPC) Ltd over unpaid remittances. States boycotted the meeting until NNPC settles an estimated N1.7 trillion in revenues, which have been pending since the full removal of the petrol subsidy in…
A total sum of ₦1.424 trillion, being December 2024 Federation Accounts Revenue, has been shared among the Federal Government, States and Local Government Councils. The revenue was shared at the January 2025 Federation Account Allocation Committee (FAAC) meeting held in Abuja. The Director of Press and Public Relations, Office of the Accountant General of the…
A total sum of ₦1.727 trillion, being November 2024 Federation Accounts Revenue, has been shared to the Federal Government, States and the Local Government Councils. The revenue was shared at the December 2024 meeting of the Federation Accounts Allocation Committee (FAAC) held in Abuja. This was disclosed in a statement signed by FAAC Director of…
Governor Siminalayi Fubara of Rivers State has challenged a court ruling that banned the Central Bank of Nigeria (CBN) from disbursing monthly allocations to his state. GISTSMATE MEDIA reported earlier that the Nigerian government recently confirmed that it has stopped the October monthly Federation Account Allocation Committee (FAAC) revenue payment to the state. According to…
The Nigerian government has confirmed that it has stopped the October monthly Federation Account Allocation Committee (FAAC) revenue payment to Rivers State. The development comes amid the ongoing face-off between Governor Simi Fubara and the Minister of Federal Capital Territory, Nyesome Wike. According to the Spokesperson of the Office of the Accountant General of the…
The Federation Accounts Allocation Committee (FAAC) has distributed a total of N1.411 trillion as revenue for October 2024 among the Federal Government, State, and Local Government Councils. The allocation was finalised at the November 2024 FAAC meeting held in Bauchi State, presided over by the Accountant General of the Federation, Dr. Oluwatoyin Madein. A communiquĂ©…
The federal government is proposing a major shift in the distribution of funds from the Federation Account Allocation Committee (FAAC). This was revealed by Mr. Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, in a statement on his X (formerly Twitter) handle. Oyedele disclosed that the federal government is set to…
The Federation Account Allocations Committee (FAAC) disbursements to the Federal Government (FG), 36 states and 774 local governments (LG) rose by 149.4 percent year-on-year (YoY) to N13.72 trillion in the first seven months (January to July) of 2024, 7M ’24, from N5.5 trillion in the corresponding period of 2023. Details of data from the National…