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FAAC meeting postponed amid accountant-general’s ‘N80bn fraud probe’

FAAC meeting postponed amid accountant-general’s ‘N80bn fraud probe’
May 18
18:38 2022

The federal government has postponed May 2022 federation account allocation committee (FAAC) meeting.

The FAAC meeting is a monthly meeting where the federation allocates monthly revenue among the three tiers of government.

The meeting was initially scheduled on hold on May 18 and 19, 2022.

The ministry of finance, budget and national planning said this on Wednesday in a circular signed by Stephen Okon, director, home finance.


The ministry said the meeting was postponed due to “certain circumstances”.

“I am directed to inform you that the Federation Account/Allocation Committee (FAAC) meetings earlier scheduled to hold/virtually on the 18th and 19th May 2022 have been postponed due to/certain circumstances,” the circular reads.

“In view of the foregoing, I am to further inform you that the new date for the meetings will be forwarded to you in due course.


“While we regret the inconveniences this change might cause you, please accept the assurances of the Honorable Minister’s warm regards.”

On Monday, the Economic and Financial Crimes Commission (EFCC) arrested Ahmed Idris, accountant general of the federation, over an alleged N80 billion fraud.

Zainab Ahmed, the minister of finance, budget and national planning, announced an indefinite suspension of Idris on Wednesday.

Ahmed said the suspension “without pay” was to allow for “proper and unhindered investigation” in line with public service rules.


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