N4.1tn Unremitted by Agencies – FAAC The monies unremitted by Revenue Generating Agencies to the coffers of the Federal Government increased to N4.1tn as of June 2024, the Federation Accounts Allocations Committee has said. FAAC stated that this was despite the agencies’ reconciliation and payment of...

States Receive N39.6bn Ecological Funds in One Year A publication by the National Bureau of Statistics (NBS) shows that Nigeria’s 36 states received N39.62bn as ecological fund allocations from June 2023 to June 2024 from the Federation Account Allocation Committee (FAAC). The ecological fund is a...

FG's Non-oil Savings Rise by 304.1% – NBS The Federal Government’s savings in its non-oil excess account increased by 304.1 per cent in the first year of the current administration. This is according to an analysis of the monthly Federation Allocation Accounts Committee (FAAC) report released...

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...

EXCLUSIVE: Supreme Court Ruling; Many Governors in Alleged Last-minute Devouring of LGA Funds The last may not have been heard of the Supreme Court ruling that granted autonomy to Local Government Councils recently. There are allegations that many governors are rushing to introduce all manners of...

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....