Friday, 29th March 2024
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FAAC

22 Mar
The Federal Government generated N2.326,148 trillion last month in February and distributed N1,152.756 trillion to federal, states and local government councils from the proceeds. At its February meeting of the Federation Account Allocation Committee (FAAC) chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, in Abuja Thursday, from the stated…
20 Mar
The Federal, state and local governments in Nigeria shared N10.14 trillion in 2023, the Nigerian Extractive Industry Transparency Initiative (NEITI) said yesterday in Abuja.
23 Feb
Amid the worsening economy occasioned by galloping inflation, the federation revenue rose to N2.068 trillion in January out of which the Federation Allocation Committee (FAAC) yesterday shared N1.149 trillion to the Federal Government, States and Local Government Councils. This was contained in the communiqué issued at the end of the FAAC meeting in Abuja.
22 Feb
The Federation Account Allocation Committee (FAAC) announced the distribution of N1.149 trillion in January 2024 revenue, marking an increase compared to December 2023.
16 Feb
Independent Media and Policy Initiative (IMPI) has said the ineffective usage of over N16.04 trillion by the 36 states and 774 local councils of the Federation should be blamed for the excruciating hardship faced by Nigerians.
16 Feb
The Office of the Accountant General of the Federation (OAGF) has explained that it would be consistent in publishing the details of the monthly Federation Accounts Allocation Committee (FAAC) allocations to the three tiers of government.
9 Feb
The federal, state and local governments, last year, shared a total of N2.52 trillion as the Federal Accounts Allocation Committee (FAAC) foreign exchange (FX) rate gain.
24 Jan
The Federation Account Allocation Committee (FAAC) has shared N1.127.408 trillion to the federal, states and local councils out of the N1, 674.230 trillion generated in December.
21 Dec
Apart from Lagos, Nigeria's economic capital, Ogun State is the nation's most economically-viable state, a report by Economic Confidential, a subsidiary of PR Nigeria, has shown.
6 Dec
Despite raking about N15.8 trillion from the Federation Account Allocation Committee (FAAC) in less than four years, the majority of sub-national governments are reeling in huge debts just as some are showing signs of distress.
21 Nov
Minister of Finance, Wale Edun,  has said the Federation Account is witnessing improved revenue inflow since the removal of subsidy, from an average of N650 billion monthly to over N1 trillion in the last four months.
20 Nov
The Minister of Finance, Mr Wale Edun says that the Federation Account is witnessing improved revenue inflow since the removal of subsidy from average of N650 million monthly to over N1 trillion in the last four months.

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Nigerian banks have 24 months to recapitalise their capital base to at least N500 billion international authorisation capitalisation to continue operations in the country, the Central Bank of Nigeria (CBN) has said. This comes after the apex bank urged Nigerian banks to expedite action on the recapitalisation of their capital base to strengthen the financial…
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President Bola Ahmed Tinubu has approved the appointment of Dr. Abdullahi Usman Bello as the Chairman of the Code of Conduct Bureau (CCB), pending confirmation by the Nigerian Senate. Presidential spokesman, Ajuri Ngelale, confirmed Tinubu's approval of Bello's appointment in a statement on X on Thursday. According to the Ngelale, Dr. Bello is a consummate…
1 day ago
Hoodlums attacked and set on fire the Neni Divisional Police station in Anaocha Local Government Area of Anambra State. It was gathered that the hoodlums numbering about 30 stormed the area at about 2am on Thursday and destroyed several buildings. READ ALSO: First phase of Lagos-Calabar Highway to be completed in three years – FG…
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The Federal Government said the first phase of the Lagos-Calabar highway will be completed within the next three years. This was disclosed on Thursday in a statement by Ben Bem Goong who is the spokesman to the Minister of Works, Engr. David Umahi. Goong made this announcement following Umahi's inspection of the Lagos-Calabar coaster highway…
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Nigeria has been left in darkness as the national electricity grid controlled from Osogbo, Osun State collapsed at about 4:30pm on Thursday. Most distribution companies across the country disclosed that their feeders were out leaving their franchises area across the 36 states in darkness. While the grid output was 2984 megawatts as at 4pm, the…
1 day ago
An Ikeja High Court on Thursday issued a bench warrant against the former employee of Punch Nigeria Ltd., Olusegun Ogunbanjo, and others charged with N950 million fraud.
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An Ikeja Sexual Offences and Domestic Violence Court on Thursday discharged and acquitted a 23-year-old student, Victory Tasie, charged with defiling his girlfriend.
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