The Federation Account Allocation Committee has shared the sum of N1.1 trillion to the Federal Government, 36 States and Local Government Councils for August.
The Accountant General of the Federation, Dr. Oluwatoyin Madein, has reaffirmed commitment to upholding and promoting prudence, transparency and accountability in government financial transactions.
The three tiers of government: Federal, States and Local Government Councils, shared a total of N4.37 trillion from the Federation Account as statutory revenue allocations between January and June 2023.
The Federation Account Allocation Committee has shared N966.110 billion revenue to the Federal Government, States and Local Government Councils for July.
The News Agency of Nigeria reports that FAAC had on Thursday shared N907 billion among the three tiers of government.
The shared revenue by the three tiers of government was revealed at the end of the FAAC meeting for June 2023.
“I can comfortably tell you that Mr President has approved the memo from NNPC Limited to set up a committee to reconcile the crisis between NNPC Limited and FAAC over the failure to remit money into the federation account,” a top industry source said.
Bawa Mokwa, Director, Press and Public Relations, Office of the Accountant of the Federation, made this known.
This development was revealed in a communiqué issued at the end of the FAAC meeting for March 2023.
The Managing Director of the authority, Prof. Adesoji Adesugba made this known in Ado-Ekiti during a courtesy visit to Ekiti State Governor, Biodun Oyebanji on Thursday
Phil Abiamuwe-Mowete, Director (Information/Press), Ministry of Finance, Budget and National Planning, said this.
This was contained in a statement by the Federal Ministry of Finance, Budget and National Planning on Thursday.
The final year Law student of Benue State University filed the case over the Academic Staff Union of Universities strike.
The balance in the Excess Crude Account also dropped to $376,655.09 million from $35.377 million in May.
This decision is contained in a public notice, signed by its Executive Chairman, Muhammad Nami, where the tax authority noted that most states and local governments have failed to remit the Service Withholding Tax (WHT) and Value Added Tax (VAT) deductions from payments made to contractors and service providers by them as required by law.
He made the call in an interview with newsmen on the sidelines of the ongoing Conference of Nigeria State of Assembly Speakers.
The call was contained in a statement issued by the Communications Associate of BudgIT, Iyanu Fatoba, on Wednesday.
Dabari, who stated this in an interview with the News Agency of Nigeria (NAN) on Thursday, in Yola, added that pursuing the agribusiness programme had become necessary to serve as alternative to oil and the monthly federal allocation.
This was revealed in a statement by the Office of Accountant General of the Federation on Friday.
They made the call in an interview with the News Agency of Nigeria in Osogbo.