Headlines News

Paris Club refund: Govs’ll not accept arbitrary deductions from FG – Fayemi

Ihesiulo Grace 27 October 2021 0

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

Headlines News

Tougher times as remittances to Federation Account drop

Ihesiulo Grace 1 June 2021 0

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 […]

Imo Times News

N6bn missing from Oil Producing Commission under Okorocha, says Panel

Ihesiulo Grace 12 January 2020 0

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 […]

Business Headlines

FG, 36 states, LGAs share N3.95trn in 6 months

Ihesiulo Grace 11 September 2018 0

…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.

Business Headlines

Revenue template for NNPC ready, FAAC shares N714.8bn to FG, States, LGAs

Ihesiulo Grace 31 August 2018 0

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

Headlines News

15 revenue agencies didn’t remit N8.1trn in 5 years- Minister

Ihesiulo Grace 22 May 2018 0

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 […]

Business Headlines

FAAC suspends April distribution over NNPC failure to remit funds

Ihesiulo Grace 26 April 2018 0

* 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 […]

News

How 36 states share N173.8bn from federation account in September – Graphic Report

Ihesiulo Grace 15 October 2017 0

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, […]

News Nigeria

Joint Account Committee declares N2.18bn allocation for LGs in Edo

Ihesiulo Grace 13 July 2017 0

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 […]