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FG, States And LGs Share N610.368bn In February

  The Federation Accounts Allocation Committee (FAAC) has shared a total of N610.368 billion to the three tiers of government. According to a statement on Wednesday by the Director of Information at the Ministry of Finance, Hassan Dodo, the money was the federal revenue generated in the month of January but shared in February. The … Continue reading FG, States And LGs Share N610.368bn In February …

Federal allocation account now N8.5tr, says NEITI

Federal allocation account now N8.5tr, says NEITI

The Federation Allocation Account Committee (FAAC) has disbursed N8.5 trillion to the three tiers of government and others, the Nigeria Extractive Industries Transparency Initiative (NEITI) has disclosed adding it is the first time since 2014, that disbursements would exceed N2 trillion in three consecutive quarters. According to NEITI, the total of N8.52 trillion shared among […] …

FAAC: FIRS remits N4.63tr into federation account

FAAC: FIRS remits N4.63tr into federation account

Uche Usim, Abuja The Federal Inland Revenue Service (FIRS), remitted N4.63 trillion into the federation account between January and November this year, in line with its mandate as a major revenue generating agency of the country. The figure is contained in a document presented to the Ministry of Finance at the final Federation Account Allocation […]
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FAAC: Customs remits N653.47bn into federation account

FAAC: Customs remits N653.47bn into federation account

FAAC, headed by the Minister of Finance Mrs Zainab Ahmed, comprises Commissioners of Finance from the 36 States of the federation Uche Usim, Abuja The Nigeria Customs Service (NCS), remitted a total of N653.47 billion between January and November this year. NCS generates N100bn revenue monthly –Ali Details of the revenue flow are contained in […]
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FAAC: Shocker as $1.68bn is withdrawn from ECA in 3 weeks

FAAC: Shocker as $1.68bn is withdrawn from ECA in 3 weeks

Corroborating, the Accountant-General of the Federation, Ahmed Idris said FAAC did the right thing and followed due process. Uche Usim, Abuja The Federal Account Allocation Committee (FAAC) rose from its last meeting in 2018 with a startling disclosure that the Excess Crude Account (ECA) crashed from $2.319 billion to $631 million between November 25 and […]
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FG increases Works Ministry’s budget from N18bn to N394 bn, says Fashola

FG increases Works Ministry’s budget from N18bn to N394 bn, says Fashola

Isaac Anumihe and Ndubuisi Orji, Abuja Minister of Power, Works and Housing, Babatunde Fashola, has disclosed that the ministry’s expansive infrastructure spending has shot its budget from N18.132 billion in 2015 to N394 billion this year. Giving his scorecard in Abuja, Fashola said that the outcome of this is that there is not one state […]
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FAAC: FG, states, LGAs share N788.139bn in October

FAAC: FG, states, LGAs share N788.139bn in October

Figures obtained at the end of the November FAAC meeting in Kaduna showed that the N788.139 billion shared among the three tiers of government surpassed the N698.710 billion shared the previous month. Uche Usim, Abuja The Federal Government, states and Local Government Areas (LGAs) shared N788.139 billion as October revenue alloted by the Federation Account […]
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