Revenue accruing to the federal, states and local governments went up significantly in May 2016 by N23.628 bn. Following this, the federal, states and local governments shared N305.128bn as against the N281.500bn shared in April. Addressing journalists at the end of the Federation Account Allocation Committee...

The protest by the workers of the Ministry of Finance has prevented the monthly meeting of the Federation Account Allocation Committee (FAAC), which had been earlier scheduled to hold on Tuesday June 21, 2016. The workers, who shut all entrances to the headquarters of the...

Governments at all level have begun implementation of IPSAS process designed to lead to full disclosure of their financial transactions and enhance transparency and accountability in public finance. The process is known as the International Public Sector Accounting Standards (IPSAS). IPSAS was intended to improve the...

Lagos Got N178bn, Akwa-Ibom N173bn, … Gombe and Ebonyi N49bn each A new report has disclosed that the 36 states and the 774 local government councils in Nigeria shared a total sum of N2.8 trillion from the Federation Account in the one year of President...

Federation Account: Table of Allocation of N289bn Disbursed in May 2016 A total sum of N289bn was disbursed to Federal, States and Local Government Councils in Nigeria at the monthly meeting of the Federation Account Committee (FAAC) which was held in April 2016. The Economic Confidential...

AT least N2.7 trillion has so far been collected on the Treasury Single Account, TSA, platform according to a release from the Office of the Accountant-General of the Federation, OAGF, which also gave assurance that the Federal Government is working out modalities to ensure...