Minister Explains Delay in Direct Payment of FAAC to LGAs The Minister of Finance and Coordinating Minister of Economy, Wale Edun, says there are “practical impediments” to the implementation of direct payment of allocation to local government areas (LGAs) from the federation account. Edun spoke on...

FAAC: FG, States, LGs share N1.1trn for June The Federation Account Allocation Committee (FAAC) has shared the sum of N1.127 trillion to the federal, States and Local Governments. The distribution was the outcome of today’s FAAC meeting chaired by the Accountant General of the Federation, Dr....

FAAC: FG, States, LGs share N1.1trn for May The Federation Accounts Allocation Committee has shared the sum of N1.143 trillion to the three tiers of government. A communique issued at the end of the committee’s meeting in Abuja, this evening,  indicated that the funds were from...

FAAC: FG, States, LGs Shared N1.1trn in March   The Federation Account Allocation Committee (FAAC) has shared a total sum of N1123.391 billion as March 2024 federation account revenue to the federal government, states and local government councils. The balance in the Excess Crude Account (ECA) was...

FAAC: Debt Servicing Gulps Allocation For Ondo, Osun, Two Others   Most of the Federal Accounts Allocation Committee funds for Osun, Ondo, Kaduna and Cross Rivers states will be used in servicing debts this year. The states, as indicated in their 2024 budget may have to rely...

FAAC: FG, States, LGs Share N1.1trn for February   The Federation Account Allocation Committee (FAAC) has shared a total sum of N 1,152.756 billion February 2024 Federation Account Revenue to the Federal Government, States and Local Government Councils. The revenue was shared at the March 2024 meeting...