The Federation Account Allocation Committee, FAAC, has distributed a total of ₦1.578 trillion among the three tiers of government for the month of March.
This is according to a communiqué released by the Office of the Accountant-General of the Federation and signed by the Director of Press and Public Relations, Mr Bawa Mokwa.
Also Read: FAAC Disburses N1.1trn December Allocation To FG, States, LG
According to the document, the shared revenue includes ₦931.3 billion from statutory allocations and ₦593.75 billion generated through Value Added Tax. Additional funds came from the Electronic Money Transfer Levy, which contributed ₦24.97 billion, and a further ₦28.71 billion from exchange rate differentials.
The communiqué noted that total gross revenue for the month stood at ₦2.411 trillion, before statutory deductions and transfers.
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