Tag: FAAC Allocation

Reps Urge CBN to Withdraw Old Banknotes Before December Deadline

₦1.411 Trillion FAAC Revenue Distributed Among FG, States, and LGAs for October 2024

by Ikenna Ngere

November 20, 2024

The October 2024 Federation Accounts Revenue, totaling ₦1.411 trillion, has been allocated to the Federal Government, State Governments, and Local Government Councils (LGAs), according to the Office of the Accountant ...

Exchange Rate Gains Now Constitute 20% of FAAC Allocation, Rising from 1.32% – Report

by Harry Choms

June 8, 2024

According to a recent report from Agora Policy, the exchange rate gain component of the monthly FAAC (Federal Account Allocation Committee) allocation rose significantly between May 2023 and April 2024, ...