By Emmanuel Elebeke
ABUJA – The federal government and the other two tiers of government on Thursday shared the sum of N626.827bn for the month of March, 2018.
The sum represented federation revenue and proceeds of the Value Added Tax (VAT) for the month of March.
The funds were shared by the Federation Accounts Allocation Committee (FAAC) at the end of its monthly meeting in Abuja.
It came after the second adjournment of FAAC meeting on Wednesday in a sequence after a similar one occurred in the previous month.
According to FAAC Secretariat, the postponement became inevitable in view of the inability of NNPC to remit the expected returns in the month under review.
The Accountant General of the Federation, Ahmed Idris, who briefed journalists at the end of the meeting, said the N625.827bn distributed to the three tiers of government was N20.563 billion lesser than the N647.390…
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