12 stories found
The Socio-Economic Rights and Accountability Project (SERAP) has called on Nigeria's electoral commission, INEC, to investigate the alleged diversion of N800 billion from the Federation Account Allocation Committee (FAAC) for political campaign funding.
A World Bank report highlights how Nigeria's rising revenues are being diluted by increasing obligations and FAAC deductions, prompting calls for greater transparency in financial management.
The Nigerian government has terminated the Customs' 7% FAAC deduction policy, introducing a new 4% Free-on-Board funding model that is expected to impact federal revenue.
FAAC records show Akwa Ibom received N119.82 billion in oil derivation funds over four months, contradicting Governor Eno's claim that the state stopped receiving revenue since September 2025.
Following recent xenophobic attacks in South Africa, Nigeria is facilitating the repatriation of over 130 of its citizens and has demanded a thorough investigation into the killings of Nigerians, seeking justice and improved safety measures.
FAAC deductions have accounted for 41% of Nigeria’s N84tn revenue over the past three years, significantly reducing funds available for development despite recent economic reforms.
FAAC shares N1.894 trillion from February 2026 revenue. Learn about the FAAC revenue sharing breakdown between federal, state, and local governments. Read More:…
….As Mbah lists gains of connecting to the centre …Lauds Tinubu’s economic policies, more FAAC inflows to states …Chukwunweike: No Enugu governor has done one tenure since 1999 The Enugu State…
The Nigerian Federal Government has introduced a new compensation scheme for injured and deceased civil servants, alongside measures to address bottlenecks in the existing system. These initiatives aim to improve support for public sector employees and their families.
Anambra Governor Soludo calls for a review of the FAAC sharing formula to accommodate state police, arguing the current revenue structure is unrealistic. Read More:…
The Federation Account Allocation Committee (FAAC) has shared a total of N1.894 trillion among the three tiers of government as federation allocation for February 2026. The post FG, States, LGs share…
The Minister says new directives on revenue remittances are aimed at strengthening transparency and domestic resource mobilisation, as a forensic audit of NNPC proceeds under FAAC mandate. The post Edun explains revenue remittance directive, says NNPC forensic audit ongoing appeared first on Premium Times Nigeria.