FAAC

Nigeria’s deposit money banks and other financial institutions, together with the Federation Accounts Allocation Committee (FAAC), raked in N135.56 trillion from electronic payment transactions in the first quarter (Q1) of 2023 as the Central Bank of Nigeria (CBN) intensifies...

April 20, (THEWILL) – The Federation Account Allocation Committee (FAAC) has shared a total of N714.629 billion as March 2023 federation revenue to the Federal, State, and Local Government Councils. A communiqué issued at the end of the FAAC meeting...

March 24, (THEWILL) – The Federation Account Allocation Committee (FAAC) has shared a total sum of N722.677 billion February 2023 Federation Account Revenue to the Federal Government, States and Local Government Councils. This was contained in a communiqué issued...

February 21, (THEWILL) - The three tiers of government, comprising federal, states and local government councils, shared a total of N750.174 billion as revenue approved for the month of January. A statement issued by the Federation Account Allocation Committee...

January 18, (THEWILL) - The Federation Account Allocation Committee (FAAC) has shared a total sum of N990.189 billion December 2022 revenue, to the Federal, States and Local Government Councils. The figure represents an increase of N88.136 billion, compared to the...

Huge amounts of taxpayers’ money have been spent on them without results; and current contracts to rehabilitate the refineries in Port Harcourt, Warri and Kaduna will overflow into the next seven years. Aside from specific budgetary allocations for major projects...

December 16, (THEWILL) – The Federal, States and Local Governments have shared N902.053 billion November 2022 revenue from the Federation Account. A communiqué issued at the end of the Federation Account Allocation Committee (FAAC) meeting for December 2022,...

November 23, (THEWILL) - The Federation Account Allocation Committee (FAAC) has shared a total sum of N736.782 billion October 2022 Federation Account Revenue to the Federal, States and Local Governments. This is contained in a communiqué issued at the end...

November 18, (THEWILL) - The Federation Account Allocation Committee (FAAC) Post-Mortem Sub-Committee has noted with serious concerns, the nation’s rising public debt, describing it as worrisome. “The rising level of public debt and the increasing ratio of debt service to...

October 27, (THEWILL) - The Federation Account Allocation Committee (FAAC) has shared N700.235 billion to the three tiers of government as federation allocation for September 2022. From this stated amount, inclusive of Gross Statutory Revenue, Value Added Tax (VAT), and...