June 9, 2008 From documents obtained by the Economic Confidential a total sum of N892bn was allocated to the tiers of government in May 2008. The amount released at the monthly meeting of the Federation Account Allocation Committee (FAAC) in Abuja was the highest disbursement ever made in the history of the monthly federal allocation. The huge disbursement came from accounts of Statutory and VAT, Excess Crude Proceeds and differential in the Excess Foreign Crude Proceeds (for 3month Jan-March2008) paid to tiers of government and two revenue agencies. Some states received as much as N42bn while others got as little as N6bn from the May Jumbo Packages…. Please click to see table of disbursement....Read We Only Step Down, Not Withdraw the Suit - Governors The states that had sued the federal government at the Supreme Court for alleged illegal deductions and non-remittance to the Federation Account have claimed that they just step down the case but not that they have completely withdrawn the suit. They said that until the members of a committee set up to examine their grievances submit a satisfactory recommendation before they could withdraw. While many states are willing to join in the suit, the federal government had recently met with the aggrieved states…. Read Economic Confidential Factual, Authoritative and Accesible Nigeria's Economic Magazine |
Wednesday, December 10, 2008
Jumbo Allocation: How They Share N892bn in May 2008
