Browsing Tag

Federation Account

FACC: FG, states, LGs share N695bn for February

Kadiri Abdulrahman Mar 23, 2022 0

The Federation Accounts Allocation Committee (FAAC) has shared a total sum of N695.033 billion to the three tiers of government as federation allocation for February. Mr Olajide Oshundun, the Deputy Director, Information, Federal…

Government

States May Not Have Oil Money To Share In Future – Stakeholders

Cecilia Ijuo Aug 29, 2021 0

Lawmakers, state commissioners, and other critical stakeholders have expressed concern over dwindling allocation to states from the Federation Account. The stakeholders spoke in separate interviews with the News Agency of Nigeria(NAN) at…

Features

Senate Seeks to De-list 60 MDAs from Receiving Federal Allocation

Tony Abu Momoh Aug 30, 2020 0

Alex Okoh revealed before the Senate Committee on Privatization that 600 agencies got $3bn per year as Federal allocation with no returns to the federation account.

Government

FG got N275.33bn from Federation Account in February – NBS

Cecilia Ologunagba Mar 28, 2019 0

The Federation Account Allocation Committee (FAAC) disbursed the sum of N275.33 billion to the Federal Government in February 2019, the National Bureau of Statistics (NBS) has disclosed. The NBS said this in FAAC February 2019…

Government

NNPC pays N128bn into federation account in August

Edith Ike-Eboh Nov 7, 2018 0

The Nigerians National Petroleum Corporation (NNPC) says it has transferred the sum of N128.40billion into the federation account in August. The Corporation disclosed this in its monthly Financial and Operational report released in Abuja…

Finance

$22.06bn, N481.75bn not remitted to Federation Account between 1999-2015 – NEITI

Edith Ike-Eboh Oct 30, 2018 0

The Nigeria Extractive Industries Transparency Initiative (NEITI) says that the 22.06 billion dollars and N481.75 billion yet to be remitted by NNPC and others to the Federation Account are legacy issues from its audit reports for 1999 to…

Finance

How states withdrew N593.1bn from federation account in Q1 2018

Racheal Ishaya May 14, 2018 0

The 36 states of the federation have so far withdrawn about 593.1 billion from the Federation Account as revenue generated in the first quarter of 2018. The breakdown is contained in the monthly Federation Account Allocation Committee…

Government

FAAC: States cancel meeting following discrepancies in federation account

News Agency of Nigeria Nov 24, 2017 0

The 36 states of the federation on Thursday failed to hold the monthly Federal Account Allocation Committee (FAAC) meeting due to discrepancies in Federation Account figures presented by the Federal Government. The Chairman, Forum of…

Education

Reps to investigate JAMB’s remittances to federation account

News Agency of Nigeria Nov 2, 2017 0

The House of Representatives on Thursday resolved to investigate remittances by the joint Admissions and Matriculation Board (JAMB) to the federation account from 2007 to date. This was sequel to a motion on the need to investigate JAMB…

Government

Reps uncover $15bn unremitted oil, gas revenue

News Agency of Nigeria Jun 6, 2017

House of Representatives Ad hoc Committee investigating allegedly missing 17 billion dollars crude oil and Liquified Natural Gas revenue, on Monday uncovered 15 billion dollars unremitted revenue into Federation Account. The trace of the…

Government

Gov. Masari accuses senior civil servants of sabotage

News Agency of Nigeria May 3, 2017

Gov. Aminu Masari of Katsina State has accused senior civil servants in the state of sabotaging government activities. Masari made this known at a special Dinner organised for labour leaders in Katsina on Monday night to mark the May…

Government

Reps discover $81.2bn crude oil proceeds fraud in NNPC

Jide Apr 18, 2017

The House of Representatives has reportedly discovered that a total of $81.2bn crude oil proceeds was not remitted to the Federation Account in four years by the Nigerian National Petroleum Corporation (NNPC). The House ad hoc committee…

Business

NNPC Pays N85bn Into Federation Account – Report

John Ogunsemore Mar 6, 2016 0

The Nigerian National Petroleum Corporation (NNPC) says it has paid N85.96 billion into the Federation Account for Jan. 2016. This is contained in its Monthly Operations and Financial Report for January, released on Sunday in Abuja.…

Business

NNPC Pays N933.1bn To Federation Account, Loses $607m

Business Editor Jan 2, 2016 0

The Nigerian National Petroleum Corporation, NNPC, disclosed that it had paid the sum of N933.1bn into the Federation Account and lost about $607million at the end of November 2015. The Corporation also recorded a loss of N14.3 billion…

Government

Edo State Lost N10bn under Jonathan – Oshiomhole

Jumoke Jul 11, 2015 0

Edo State Governor, Mr. Adams Oshiomhole has said that the state lost a total of N10 billion under the administration of former President Goodluck Jonathan. He explained that the sum was an estimate of what could have accrued to his…