The Federation Accounts Allocation Committee (FAAC), has shared N1.727 trillion among the Federal Government, states, and Local Government Councils (LGCs) for November. This is contained in a communiqué issued after the FAAC meeting on Thursday in Abuja. According to the communiqué, the N1.727 trillion total distributable revenue comprised statutory revenue of N455.354 billion. It also … Read more
Four months after the Supreme Court ordered the Federal Government to pay monthly allocations directly to the accounts of Nigeria’s 774 local government councils, the directive remains unimplemented. In July, the apex court ruled that local government allocations must bypass joint state-local government accounts managed by state governments. However, the Federation Accounts Allocation Committee (FAAC) … Read more
Nigeria’s three tiers of government shared a total sum of N1.411 trillion as allocation for the month of October, 2024, from a gross total of N2.668 trillion. This was announced by Mohammed Manga, FCIA Director, Information and Public Relations, on Wednesday. He made the disclosure after the Federation Account Allocation Committee (FAAC), November 2024 meeting … Read more
The Federal Government’s Committee on Local Government Autonomy has concluded its work and signed a technical document supporting financial independence for local governments, which will soon be presented to President Bola Tinubu. EDITOR’S PICKS Electricity Meter Costs Rise Again As Deregulation Takes Effect Biden, Harris Set To Congratulate Trump On Presidential Win Thousands Of ‘Trained’ … Read more
The Federation Accounts Allocation Committee (FAAC) shared a total sum of N 1.298 trillion September 2024 Federation Accounts Revenue to the Federal Government, States and the Local Government Councils. This was announced at the October 2024 meeting of the Federation Accounts Allocation Committee (FAAC), in Abuja. In a statement by the of Press and Public … Read more
The Federal, State and Local Governments in Nigeria shared N1.203 trillion as August 2024 revenue from the Federal Allocation Account Committee. This was contained in a communique on Tuesday by the Director of Press and Public Relations in the Office of the Accountant General of the Federation, Bawa Mokwa. EDITOR’S PICKS Japan’s Next PM Vows … Read more
The Federation Accounts Allocation Committee, FAAC, has shared N1.358 trillion among the Federal Government, States and Local Government Councils, LGCs for July This is contained in a communique issued after the FAAC meeting for August on Friday in Abuja. EDITOR’S PICKS Focus on Hard Work, Not Just Prosperity – Osinbajo Tells Nigerian Churches Olympics Best Basketball Coach: Tinubu … Read more
The Federal Government, through Attorney General Lateef Fagbemi, warned Local Government Area chairmen of imprisonment for mismanaging FAAC funds. EKO HOT BLOG reports that the Federal Government has issued a warning to Local Government Area chairmen against mismanaging funds allocated by the Federation Accounts Allocation Committee (FAAC), threatening imprisonment for those involved. This warning was delivered … Read more
Eko Hot Blog reports that the Chairman of the Nigeria Governors Forum (NGF) has expressed support for local government autonomy, stating that it will alleviate the burden on states. The Kwara State Governor clarified that the position of the state in the ongoing legal proceedings on local government is that the state does not violate … Read more
EKO HOT BLOG reports that the Federation Account Allocation Committee has shared the sum of N1.088 trillion to the Federal Government, States and Local Government Councils. A communique issued at the end of the FAAC, in Abuja, on Friday, indicated that the allocation came from November 2023 Federation Account revenue. EDITOR’S PICKS New ICPC Chairman Musa … Read more
President Tinubu forms committee to resolve NNPC-FAAC dispute over unremitted funds. Investigation launched into NNPC’s alleged failure to pay N2.1 trillion, reconcile government’s debt. NNPC claims government owes over N4.2 trillion in charges. EKO HOT BLOG reports that President Bola Tinubu has set up a committee to resolve the tussle between the Nigeria National Petroleum … Read more
…Companies Income Tax (CIT) and Value Added Tax (VAT) increased reasonably EKO HOT BLOG reports that the Federation Accounts Allocation Committee (FAAC) has shared a total of ₦699.824 billion to the Federal Government, states, and local government areas. The amount is the allocation for December 2021. This was contained in a communique issued at the … Read more
The communique confirmed that from the total distributable revenue of ₦675.946 billion… EKO HOT BLOG reports that the Federation Accounts Allocation Committee (FAAC) has shared a total of ₦675.946 billion to the Federal Government, states, and local government councils as the Federation Account revenue for November, as a total of ₦196.175 billion Value Added Tax … Read more
The communique indicated that total revenue distributable for the month included gross statutory revenue of ₦477.504 billion, VAT of ₦166.228 billion The Federation Accounts Allocation Committee (FAAC) has shared a total of ₦696.965 billion as federation allocation for the month of August. Oshundun Olajide, a Deputy Director of Information at the Office of Accountant General … Read more
According to the National Bureau of Statistics (NBS), 36 states shared N1.09 trillion as revenue from Value Added Tax (VAT) in Nigeria. Value Added Tax (VAT) in Nigeria has made news headlines in the last few days, as Governor Nyesom Wike of Rivers State dragged the federal government to court over the allocation of revenue generated … Read more
Obaseki had last week raised an alarm over Nigeria’s financial position which he said made the CBN to print about ₦60billion to augment allocation shared by states last month The Minister of Finance, Budget and National Planning, Zainab Ahmed, on Wednesday said there was no truth in the claim made by the Edo State Governor, … Read more
FAAC You May Also Like President Buhari Shares Good News To Nigerians The Federation Accounts Allocation Committee (FAAC) has shared N640.310 billion to the three tiers of government for January. Mr Hassan Dodo, the Director of Information, Ministry of Finance, Budget and National Planning, said this was made known in a communique issued at the … Read more
The three tiers of government received more allocation in June due to the increase in revenue generated by the country during the period under review. The Increment in revenue saw the federation accounts allocation committee (FAAC) shared N651.18 billion to the three tiers of government. This is an increase of N104 billion when compared to … Read more
The Federation Account Allocation Committee (FAAC) Has revealed that a total amount of N693.529billion was shared between the Federal, States and Local governments for the month of September, 2019. The N693.529billion comprised revenue from Value Added Tax(VAT), Exchange Gain and Gross Statutory Revenue in the month. A statement from the Accountant General of the Federation, … Read more