FG, States, LGCs Share 733.1bn for June 2021 The Federation Accounts Allocation Committee (FAAC) has distributed a total sum of N733.095 billion as June 2021 Federation Account Revenue to the Federal, States and Local Governments Councils. This was contained in a communiqué issued at the end...

19 States Lack Automated IGR Collection System – Fed Govt       Only 17 states out of the 36 states of the federation have fully automated their Internally Generated Revenue collection systems, the Federal Government said on Thursday. This implies that 19 states lack automated IGR collection systems. The...

FG, States Debts Stock Now N32.9trn — DMO     The Director General of the Debt Management Office (DMO), Patience Oniha, has said the cumulative sum of N32.9 trillion debt of Nigeria is a responsibility of the federal and state governments. In a series of tweets on her...

Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC         The debts of four states exceeded their net revenues by more than 400 per cent, the Fiscal Responsibility Commission has said. The states are Lagos, Osun, Cross River and Ogun. The FRC in its report...

States, Others Not Funding 3.5m Workers’ Pension – PenCom       The National Pension Commission has faulted states and some private companies for not funding 3.5 million pension accounts opened by their workers as of the end of 2020. The implication of this default is that the workers...

FG To Redeem Debts Owed States With Over N31.4bn       The Federal Government will tomorrow release over N31.4 billion to state governments in keeping with its obligations to service its debts. The state governments will be credited with N31,440,652,571 tomorrow when the promissory notes issued to them...