The Federation Account Allocation Committee (FAAC) shared a total sum of N691bn in the month of July representing allocation for June 2016. Of the amount N528.8bn represents Statutory allocation, N79bn represents Monetary Exchange Gain difference, N6bn for NNPC Refund to FG, N9.92bn for Solid...

The 36 state governors have told President Muhammadu Buhari to approve the sharing of funds in the Excess Crude Account (ECA) among the three tiers of government in order to improve the liquidity position of the states. Currently, the ECA, which was set up when...