A financial audit firm, OOM Professional Services, has flagged discrepancies totalling about N101.17bn in revenue remittances by the Nigeria Customs Service, prompting the Federation Account Allocation Committee (FAAC) to demand a full recovery and redistribution of the funds to the appropriate beneficiaries. According to a FAAC Post Mortem Sub-Committee document obtained by our correspondent from…
Governors’ decision to boycott the Federal Account Allocation Committee (FAAC) meeting has taken a toll on the timely payment of their workers’ salaries and other key financial obligations of the states. The governors had on Wednesday, February 19, 2024, boycotted the meeting due to a dispute between states and the Nigerian National Petroleum Company (NNPC)…
The federal government through the Federation Account Allocation Committee (FAAC) has released N860.252 billion to state governments for January, with the local governments expected to get N361.754 billion of the allocated sum The councils will not receive their allocations directly due to their inability to meet the deadline for submitting account details. According to an…
