The Federation Account Allocation Committee (FAAC) on Thursday disclosed that the three tiers of government shared a total of N693.529 billion for the month of September from the total revenue collections into the Federation Account in the month. The N693.529 billion comprised revenues from Gross Statutory Revenue, Value Added Tax(VAT), and Exchange Gain. This is even […]
Tag: Excess Crude Account (ECA)
FG, Others Share N740.880Bn In August, As VAT Dips N6.07Bn
The Federal Account Allocation Committee (FAAC) on Thursday disclosed that the three tiers of government shared the sum of N740.880 billion in August from revenue accruals to the Federation Account during the month. A breakdown of shared revenues to the tiers of government showed that Federal Government got N301.804 billion, representing 52.68 per cent, while […]
FG, Others Shared N617.6Bn In March – FAAC
The Federation Account Allocation Committee (FAAC) reported on Tuesday that the three tiers of government shared a total sum of N617.566 billion in March from revenue accruals into the Federation Account. This figure was contained in a communique issued by the Technical sub Committee of the FAAC at the end of its meeting in Abuja. […]
CSOs Coalition Seeks ECA, Stabilisation Account’s Merger With SWF
A coalition of Civil Society Organisations (CSOs) has called on the Federal Government to collapse the Excess Crude Account, ECA, and 0.5 percent stabilization account into the Sovereign Wealth Fund (SWF) The group gave this advice at a roundtable which focused on Savings and Stabilisation Mechanism for Nigeria organized by one of them – the […]
Adeosun Carpets NNPC Over Shoddy Revenue Report To FAAC
In what appeared a major step towards transparency and accountability in the nation’s public finance system, the Minister of Finance, Mrs. Kemi Adeosun, today lambasted the Nigerian National Petroleum Corporation (NNPC) over its revenue discrepancies noticed at the Federation Accounts Allocation Committee (FAAC) meeting yesterday in Abuja. The minister at a briefing in Abuja described […]
ECA Drops To $1.83bn, FG, Others Share N626.82bn In March
The Accountant General of the Federation, Mallam Ahmed Idris, yesterday said that funds in the Excess Crude Account (ECA) had dropped to an all-time low of $1.83 billion following the withdrawal of $496 million from it by the government last month. President Muhammadu Buhari had approved the withdrawal of $496m from the ECA for the […]