Just another News Updates
The Federal Accounts Allocation Committee (FAAC) has announced the disbursement of ₦1.2 trillion in revenue for August 2024, distributed among the Federal Government, States, and Local Government Councils. This was disclosed at FAAC’s September 2024 meeting held in Abuja, as per a statement released by Bawa Mokwa, Director of Press and Public Relations. The August […]
Disbursements from the Federation Account Allocations Committee (FAAC) to the Federal Government, 36 states, and 774 local governments surged by 149.4% year-on-year (YoY) to ₦13.72 trillion in the first seven months of 2024, compared to ₦5.5 trillion during the same period in 2023. According to data from the National Bureau of Statistics (NBS), the FAAC […]
The Federation Account Allocation Committee (FAAC) has disbursed a total of ₦1.36 trillion to the federal, state, and local governments as part of the Federation Allocation for July 2024. This announcement came following the FAAC meeting in August 2024, which was chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun. […]
The Federal Government has issued a stern warning to Local Government Area (LGA) chairmen who misuse funds from the Federation Accounts Allocation Committee (FAAC), stating they could face imprisonment. This announcement was made by the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), during the 17th-anniversary annual lecture of the Human […]
The Federation Account Allocation Committee (FAAC) has disclosed that the three tiers of government shared a total sum of ₦1.35 trillion in June. This amount was part of the ₦2.48 trillion revenue generated by various agencies and is ₦150 million more than the ₦1.2 trillion shared in May. A statement by the Director of Information […]
The Federal Government risks losing N2.97tn and $36.33m if revenue-generating agencies do not reconcile unremitted earnings. This figure, owed by several unnamed agencies as of April 2024, was disclosed during a Federal Account Allocation Committee (FAAC) meeting. The minutes of this meeting were obtained by our correspondent on Monday. Kabir Mashi, Vice President of the […]
The Federation Accounts Allocation Committee (FAAC) has distributed ₦1.143 trillion to the three tiers of government. A communique issued at the end of the committee’s meeting in Abuja indicated that the funds were from May’s Federation Accounts revenue, which totaled ₦2.324 trillion. The FAAC meeting was chaired by the Minister of Finance and Coordinating Minister […]
The Federation Allocation Allocation Committee (FAAC) has announced that during its May 2024 meeting held in Abuja, N1.2tn from April 2024 Federation Account Revenue was distributed among the federal, state, and local governments. Mr. Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant-General of the Federation, disclosed this in a […]
The Socio-Economic Rights and Accountability Project (SERAP) has called on Nigeria’s 36 state governors and the Minister of the Federal Capital Territory (FCT), Nyesom Wike, to provide a transparent account of the spending of Federal Account Allocation Committee (FAAC) allocations to states and the FCT since 2019. SERAP has also requested them to publish documents […]
The Federation Account Allocation Committee has disbursed a total of ₦1.123tn to the federal, state, and local governments for March 2024. The allocation, derived from a gross total of ₦1.867tn, marks a critical distribution of funds aimed at supporting various government tiers. This was revealed in a statement signed by the Director of Information and […]