FAAC

The Scariest Thing about Nigeria by imon Kolawole

October 1, 2018October 1, 2018 Amurun KelvinLeave a Comment

We see different things even when we are looking at the same picture. When CBN asked MTN to return the $8.1 billion dividends it “illegally” repatriated between 2007 and 2015, I was not thinking about MTN or CBN. Rather, my mind was on Econet, the ancestor of Airtel. Econet and MTN launched operations […]

AKWA IBOM, BAYELSA, DELTA, LAGOS GOT HIGHEST SHARE IN FAAC FIRST QUARTER REPORT

May 22, 2017 Amurun KelvinLeave a Comment

The federal, states and local governments shared N1.4 trillion in the first quarter of 2017, according to the federation account allocation committee (FAAC) report. Akwa Ibom received the highest share of N34.8bn while Osun state got N1.7bn, the lowest among the states. The breakdown is contained in the monthly FAAC report. Obtained by NAN on […]

Lagos IGR rises by N32.99bn — higher than 33 states put together

March 15, 2017March 15, 2017 Amurun KelvinLeave a Comment

The internally generated revenue (IGR) of Lagos state rose by approximately N33 billion from 2015 to 2016, beating 33 states put together. According to a report by the Nigeria Extractive Industries Transparency Initiative (NEITI), the state recorded an IGR of N301.19 billion, a rise of N32.99 billion in one year. The total IGR from 33 […]

About $3.1b more revenue for FG, State and LGAs in June

July 23, 2016 Amurun KelvinLeave a Comment

The Federal Account Allocation Committee (FAAC), says on Thursday it distributed the sum of N559.032 billion to the three tiers of government. This makes it highest allocation since the APC led administration of President Muhammadu Buhari took over power 12 months ago. The Excess Crude Account (ECA) has also increased from $2.61b to $3.094 billion. […]

Confronting the curse of oil by Reuben Abati

April 24, 2016April 24, 2016 adminLeave a Comment

The monthly Federation Accounts Allocation Committee, FAAC, meeting was held the other day in Abuja, with the representatives of state governments again cap in hand, asking for their share of federal revenue – read: oil revenue, or better still, national cake, or our money. A paragraph in the report by the online newspaper, Premium Times, […]

$2,1b Unauthorised Spending: Okonjo-Iweala accuses Buhari, Oshiomhole, APC of lying

June 30, 2015 Leave a Comment

THERE WAS NO “UNAUTHORISED SPENDING” UNDER OKONJO-IWEALA: $2.1BILLION ALLEGATION IS LATEST CHAPTER OF POLITICAL WITCH-HUNT The allegation by some governors that former Minister of Finance, Dr Ngozi Okonjo-Iweala spent $2.1 billion out of the Excess Crude Account “without authorization” is false, malicious and totally without foundation. We want to state categorically that no unauthorized expenditure […]