Federation Account Allocation Committee (FAAC) Meeting Ends in Deadlock

0

Get real time updates directly on you device, subscribe now.

The Monthly meeting of the Federation Account Allocation Committee (FAAC) has ended in a deadlock on Wednesday.

This was announced by the Director of Information, Ministry of Finance, Budget and National Planning, Mr. Hassan Dodo.

According to the Director who addressed newsmen shortly after the meeting, the usual briefing could not hold because the FAAC meeting did not reach a conclusive end.

See Also: Coronavirus: Afrika Shrine Shuts Down Programmes

“Gentlemen of the press, there is not going to be usual briefing today because the meeting is inconclusive” he said.

He however refused to give more details regarding the meeting.

The FAAC meets every month to share revenue between the Local, State and Federal Governments.

Financial experts predicted a low revenue for the country for the month of February and March due to the outbreak of the Coronavirus and it’s effects on global oil prices which crashed to $26 per barrel on Wednesday.

Leave a Reply

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.