The Federation Account alAllocation Committee (FAAC) said it shared N1.65 trillion among the three tiers of government as allocation for May 2025. This represents a decrease of N30 billion, compared to the N1.68 trillion shared in April. According to a statement on Wednesday from the Ministry of Finance Incorporated, the figure was confirmed in a communique issued at the end …

The Federation Account Allocation Committee (FAAC), yesterday disbursed the sum of N1.681 trillion to the three tiers of government as Federation Allocation for the month of April 2025 from a gross revenue of N2.848 trillion posted. The shared amount translates to a N103 billion increase over N1.578 trillion disbursed in the preceding month of March. The rise was also attributed …

The Federation Account Allocation Committee (FAAC) has distributed the sum of N1.578 trillion, being March 2025 Federation Account Revenue to the three tiers of government. The Office of the Accountant-General of the Federation (AGF) said last night that the money came from the Federation revenue in the month of March. The total distributable revenue of N1.578 trillion comprised statutory revenue …

The Pan Niger Delta Forum (PANDEF) has called for a reconsideration of the Supreme Court’s ruling on the suspension of allocations to Rivers State. On Friday, the apex court had upheld a Federal High Court’s decision directing the Central Bank of Nigeria (CBN) to withhold funds meant for local government areas in Rivers State. In a statement on the same …

FAAC meeting postponed indefinitely as states, NNPC tussle over N1.7trn remittances The Federation Account Allocation Committee (FAAC) has announced the indefinite postponement of its meetings for February 2025. : TheCable had earlier reported that the FAAC meeting was not held on Wednesday due to a dispute between states and NNPC Limited over outstanding remittances. States decided to boycott the meeting until …

Statutory monthly allocations will not be directly disbursed to the 774 local governments this month by the Federation Account Allocation Committee (FAAC). It is due to their inability to meet the deadline for the submission of account details, it was learnt yesterday. The councils’ January funds would be disbursed through the states, a source said. However, according to the source, …

The 774 local governments are to open dedicated accounts with the Central Bank of Nigeria (CBN) for the direct disbursement of allocations to them from the Federation Account, the Association of Local Governments (ALGON) said yesterday. The National President, Bello Lawal Yandaki, said the opening of the account is critical to the implementation of the Supreme Court ruling on direct …

The Federation Account Allocation Committee (FAAC), at its October 2024 meeting chaired by the Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, shared a total sum of N1.298 trillion to the three tiers of government as Federation Allocation for the month of September, 2024 from a gross total of N2.298 trillion. From the stated amount inclusive …

The Federal Accounts Allocation Committee (FAAC) has said it disbursed N1.2 trillion earned as revenue in August 2024 to the Federal Government, states, and Local Government councils in Nigeria. The revenue distribution was announced at the September 2024 FAAC meeting in Abuja, a statement by the Director of Press and Public Relations at the Office of the Accountant-General of the …

The Federation Account Allocation Committee (FAAC) has shared N1.358 trillion to the three tiers of government. The funds came from the July 2024 Federation Accounts revenue, according to the statement on Friday night by the Director of Press and Public Relations of the Office of the Accountant-General of the Federation, Mr. Bawa Mokwa, in Abuja. The N1.358 trillion total distributable …