FAAC shares N769BN among the tiers of govt

FAAC shares N769BN among the tiers of govt

The Federation Accounts Allocation Committee (FAAC) has shared a total of N769.52 billion to the three tiers of government for the month of July 2019. 

Accountant-General of the Federation (AGF), Ahmed Idris revealed this in Abuja, while addressing journalists at the end of the Federation Accounts Allocation Committee (FAAC) meeting Abuja.

Represented by Mr Mohammed Usman, Director, Funds, Office of the Accountant-General of the Federation (OAGF), Idris said the shared amount comprised revenue from Value Added Tax (VAT), Exchange Gain and Gross Statutory Revenue.

He said that the gross statutory revenue for the month was N674.36 billion, higher than the N652.9 billion received in the previous month by N21.41 billion.

Idris also explained that the Excess Crude Account (ECA) balance stood at 274.4 million dollars. END


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