Thursday, November 29, 2018

Tag "FAAC allocation"

    NEITI: Osun’s total FAAC deductions in half year 2018 exceeded total allocation

NEITI: Osun’s total FAAC deductions in half year 2018 exceeded total allocation

The total deductions made from Osun's disbursements from the federation account allocation committee exceeded the total allocation the state got.According to a quarterly review released by the Nigerian Extractive Industries Transparency Initiative, the total allocations Osun got between January and June 2018 was N10.24 billion and the total deductions made was N14.52 billion.Although data showed that FAAC disbursements as of June [...]

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    Deadlock ends as FAAC disburses N647bn Feb allocation

Deadlock ends as FAAC disburses N647bn Feb allocation

The federation accounts allocation committee (FAAC) has resolved the NNPC revenue crisis that prevented it from disbursing allocations to the three tiers of government on Tuesday.A disagreement had occurred due to the revenue remitted into the federation account by the Nigerian National Petroleum Corporation (NNPC).Ahmed Idris, accountant-general of the federation, had said: “The committee is of the opinion that until [...]

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    States get Paris Club refund, FAAC allocation at once — so ‘Nigerians can have better Christmas’

States get Paris Club refund, FAAC allocation at once — so ‘Nigerians can have better Christmas’

Olubunmi Siyanbola, a director at the ministry of finance, says 27 states have received the balance of the Paris Club refund.Siyanbola made this known on Saturday while addressing journalists after the federation account allocation committee (FAAC) meeting where N609.959 billion was distributed to the three tiers of governments.She said the remaining states would get theirs as soon as some processes are [...]

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    FAAC allocation hits 2017 high as FG, states, LGs share N652bn

FAAC allocation hits 2017 high as FG, states, LGs share N652bn

A total of N652 billion was shared among the federal, states and local governments in July, the highest so far in 2017.Ahmed Idris, accountant general of the federation, made this known on Tuesday after chairing the monthly meeting of federal accounts allocation committee (FAAC).Idris said the figure comprised of both mineral and non-mineral revenue.According to the accountant general, gross revenue [...]

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Exchange Rates

November 27, 2018USDGBPEUR
INTERBANK306397354
LAGOS363475418
KANO364476420
PH364476420
ABUJA363478419
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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