October 10, 2024
FG, States, LGs Share ₦1.2trn In August 2024
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FG, States, LGs Share ₦1.2trn In August 2024

FG, States, LGs Share ₦1.2trn In August 2024

A total sum of ₦1.2 trillion federation accounts revenue has been shared with the Federal Government, states, and local government councils in the country.

According to a statement on Tuesday by Bawa Mokwa, the FAAC spokesperson for the Accountant General of the Federation, the revenue was shared at the September 2024 meeting of FAAC, which was held in Abuja and chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.

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Mr Mokwa explained that the amount comprised distributable statutory revenue of ₦186 billion, distributable Value Added Tax revenue of ₦533 billion, Electronic Money Transfer Levy revenue of ₦15 billion, and Exchange Difference revenue of ₦468 billion.

 

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