Tag
FAAC
News and analysis about FAAC
FAAC has recommended that the Federal Government refund the about N228 billion loan it took from the non-oil excess revenue account to fund the 2023 general elections.
The total distributable revenue between the federal, state and local governments increased by 20.04% to N1.08 trillion in October.
The Federation Account Allocation Committee (FAAC) says it shared N906.96 billion among the three tiers of government for October 2023.
The Federation Account Allocation Committee (FAAC) has shared a total of N903.4 billion in Federation Account Revenue for September 2023 to the Federal Government, States, and Local Government Councils.
In the month of May, credit to key sectors of the economy and consumers declined by 0.6% and 0.9% respectively.
In August 2023, the Federation Account Allocation Committee (FAAC) disbursed a grand total of N1.1 trillion in Federation Account Revenue to various tiers of government, as reported by the Office of the Accountant General of the Federation on a Friday.
Dr. Oluwatoyin Maiden, the Accountant General of the Federation, has reiterated her dedication to upholding and advocating for the principles of fiscal prudence, transparency, and accountability in government financial operations, particularly concerning FAAC allocation distribution.
The Nigerian National Petroleum Company has provided reasons behind the payment of an interim dividend of N123 billion to the Federation Account Allocation Committee for June.
The Nigerian National Petroleum Company Limited (NNPCL) has remitted N123 billion to the Federal Government.
Gross revenue from the Value Added Tax (VAT) was N270.197 billion, Which was higher than the N217.743 billion available in April by N52.454 billion.
CEO of Financial Derivatives Co Ltd (FDC), Bismarch Rewane, says the fair value exchange rate to the dollar should range between N640 and N680/$.
It is costlier to build a one-kilometre road in Yenagoa than four kilometres elsewhere