NNPC’s revenue discrepancies stall FAAC meeting

For the second time in three months, the Federation Account Allocation Committee’s (FAAC’s) meeting ended inconclusively yesterday in Abuja following the failure of the Nigerian National Petroleum Corporation (NNPC) to provide incontrovertible details of its revenue to members of the committee. Consequently the state commissioners of finance left the meeting in pensive mood, making good […]

FG, others share n626.82bn in March, as ECA drops to $1.83bn

The Federation Account Allocation Committee (FAAC) yesterday distributed N626.82 billion to the three tiers of government for the month of March, 2018 from the revenue accruals into the Federation Account. The sharing of the fund was delayed due to disagreements by the tiers of government over alleged under-remittance of about N12 billion into the Federation […]

NNPC’s revenue remittance shortfall scuttles FAAC meeting

The Federation Account Allocation Committee, FAAC, could not hold its meeting on Wednesday as scheduled to consider and approve statutory allocation for the month of March to the three tiers of government due to revenue discrepancies. The committee had on Tuesday held the technical session, where the revenue- generating agencies, including the Nigeria Customs Service, […]

FG, others share N647.39bn in February – Adeosun

The Federation Accounts Allocation Committee (FAAC) yesterday shared N647.39 billion to all the tiers of government from the total revenue that accrued to the Federation Account in February. The Minister of Finance, Mrs. Kemi Adeosun, who is also the Chairman of the committee told journalists at the end of the meeting that the total sum […]