Browsing: FAAC

At the same time Ms. Green emphatically stated that “not all revenues collected by NNPC are paid directly into the accounts of
Federal Allocation with the Central Bank of Nigeria. Some are paid
into the accounts of the relevant government agencies, like the
Federal Inland Revenue Services and the Department of Petroleum
Resources, with the CBN. But eventually, all these payments are credited to the accounts of Federation Accounts Allocation Committee,FAAC

that the Minister has deliberately failed and or refused to sincerely brief the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, His Excellency, Dr. Goodluck Ebele Jonathan (GCFR) on both the accurate and informed realities of the States, Local Governments and the demands of the Honourable State commissioners of Finance which include in increased cost of funding security; pileup project and salary bills and other incidental debts