Ekiti State governor, Kayode Fayemi, says state governors will not accept arbitrary deductions of funds from the federation account. Fayemi, who is also the chairman of the Nigeria Governors’ Forum (NGF), said this on Tuesday while speaking with journalists on the sidelines of the 27th Nigerian Economic Summit (NES 27) in Abuja. He said state […]
Doosuur Iwambe, Abuja Federal, state and local governments face rougher times from next month as allocations into the Federation Account are expected to drop. This development is as a result of the huge payment by the Nigerian National Petroleum Corporation (NNPC) on fuel subsidy. A recent NNPC report had revealed its plans to deduct at […]
A panel set up by Governor Emeka Ihedioha’s administration to look into the finances of Imo State Oil Producing Areas Development Commission (ISOPADEC) between 2011-2019 revealed that former governor of the state, Senator Rochas Okorocha could not account for over N6 billion accrued from the Federation Account. The investigative panel also said that the sum […]
…Top earning states: Delta- N101bn; Akwa Ibom- N100bn, Rivers- N85.9bn; Bayelsa- N77bn; …Revenues in Q2 2018, highest since Q3, 2014- NEITI The Nigerian Extractive Industry Transparency Initiative (NEITI) has disclosed that the federal, states and local government areas (LGAs) shared N3.95 trillion from the Federation Account within the first half of this year. The agency […]
The Nigerian National Petroleum Corporation (NNPC) revenue temple authorised as panacea to resolving federation revenue skirmish will be ready at the next Federation Account Allocation Committee (FAAC) meeting. The development came just as the three tiers of government comprising Federal Government, states and 774 local councils on Thursday night shared total revenue of N 714.809 […]
The Minister of Information and Culture, Alhaji Lai Mohammed, has said that 15 revenue generating agencies of the Federal Government failed to remit N8.1 trillion to the Federation Account between 2010 and 2015. The Minister made the disclosure in Osogbo, Osun State, on Monday, while commissioning the Channelisation, De-silting, Flood Control and Development of Okoko […]
* State governors meets top officials of NNPC Strong indications have emerged about the possibility of delay in the April salary of civil servants nationwide as the Federation Account Allocation Committee ( FAAC) session abruptly adjourned on Wednesday over the failure of the Nigerian National Petroleum Corporation (NNPC) to remit accurate returns to the federation […]
The 36 states shared N173.8 billion from the Federation Account in September from the distributable revenue generated for the month. The breakdown was obtained by the News Agency of Nigeria (NAN) in a report from the office of the Accountant-General of the Federation in Abuja. The funds are usually shared the following month For example, […]
The Edo Joint Account and Allocation Committee (JAAC) has declared N2.18 billion as total allocation accrued to the 18 local governments in the state from the (JAAC) has declared N2.18 billion as total allocation accrued to the 18 local governments in the state from the Federation Account for the month of June. for the month […]
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