Home / BUSINESS / Economy / Bleak Easter for Civil Servants as FAAC fails to share Revenue for March
Federation, Accounts, Allocation, Committee, (FAAC),total, revenue, N635.554, billion,

Bleak Easter for Civil Servants as FAAC fails to share Revenue for March

By Tony Obiechina

After a marathon meeting in Abuja on Tuesday, the Federation Accounts Allocation Committee (FAAC)  failed to share revenue which accrued to the three tiers of government from the Federation Account for the month of February, 2018.

The meeting was inconclusive following the non reconciliation of revenue from the Nigeria National Petroleum Corporation (NNPC), one of the major revenue generating agencies of the federation.

Addressing journalists on the development, the Accountant-General of the Federation, Mr Ahmed  Idris said the FAAC meeting was of the view and opinion that “until and unless these figures are reconciled, corrected, verified,  and they are factual, we cannot distribute the revenue as the case is”.

“Let me quickly inform Nigerians that we are sensitive to the issue. We are very sensitive to the fact that we are approaching festivity (Easter). The state governments as represented by commissioners for finance are very sensitive to this issue, but again we have to follow the Constitution and the necessary laws for the distribution of the revenue”, he added.

The AGF further stated that FAAC would further look at the revenue figures submitted by the NNPC, reconcile such figures and then reconvene immediately to share the revenue accordingly.

He said, “we sincerely feel that we have to explain this to Nigerians bearing in mind that as civil servants, workers at all levels, federal, state and local governments they deserve to have their salaries.’

Answering a reporter’s question, Idris declined to disclose the NNPC figures under contention,  but quickly assured that the revenue for distribution this month would be higher than the previous month.

A total revenue of N635.554 billion was shared by the three tiers of government from the Federation Account for January 2018  when compared to N655.177 generated the previous month.

About DAO_Admin_01

Check Also

Nigeria to Host International Association of Deposit Insurers Confab in Lagos 

  By Tony Obiechina  The Nigeria Deposit Insurance Corporation (NDIC) will host the next edition …

Floods Destroy 33 Houses in Delta Community, Displace 300

From Nosa Akenzua, Asaba Rampaging flood menace in Ewulu Community in Aniocha South Local Government …

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: