FAAC disburses N1.15tr to Fed Govt, states, councils

The Nation Newspaper FAAC disburses N1.15tr to Fed Govt, states, councils

Last month’s revenue into the federation account was N2.33 trillion, with deductions and savings of N1.17 trillion, including the cost of collection, transfers, interventions, refunds and savings of N250 billion.

From the N101.349 billion distributable statutory revenue, the Federal Government got N7.351 billion, states, N3.729 billion and local governments, N2.875 billion. The sum of N87.394 billion was shared to the benefiting states as derivation revenue. About N15.157 billion Electronic Money Transfer Levy was shared as follows: Federal Government, N2.274 billion; states, N7.578 billion and the local governments N5.305 billion.

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