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The Federation Accounts Allocation Committee has shared a total of N601.1bn November 2020 Federation Account revenue to the federal, state and local governments and agencies.
This was announced on Thursday after the FAAC meeting for the month of December 2020 held at the Federal Ministry of Finance headquarters, Abuja.
The meeting was chaired by the Permanent Secretary, Federal Ministry of Finance, Aliyu Ahmed.
The total distributable revenue of N601.1bn comprised statutory revenue of N436.46bn; Value Added Tax revenue of N156.79bn and augmentation of N7.86bn from the forex equalisation revenue.
The gross statutory revenue of N436.46bn available for the month of November 2020 was higher than the N378.15bn received in the previous month by N58.31bn.
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Federation Accounts Allocation Committee (FAAC) on Wednesday shared a total of N601.110 billion November 2020 federation account revenue to the Federal, States and Local Government Councils and agencies.
According to a statement from the Office of Accountant General of the Federation (OAGF), the N601.110 billion comprised statutory revenue of N436.457 billion; Value Added Tax (VAT) revenue of N156.786 billion and augmentation of N7.867 billion from the Forex Equalisation revenue.
Gross statutory revenue of N436.457 billion available for the month of November 2020 was higher than the N378.148 billion received in the previous month by N58.309 billion.
The gross revenue of N156.786 billion available from the Value Added Tax (VAT) was also higher than the N126.463 billion available in the previous month by N30.323 billion.
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The Federation Accounts Allocation Committee (FAAC) has shared a total of N601.110 billion November 2020 federation account revenue to the Federal, States and Local Government Councils and agencies.
According to a statement issued on Wednesday, the figure was announced after the Federation Account Allocation Committee (FAAC) meeting for the month of December 2020 held at the Federal Ministry of Finance headquarters, Abuja.
The meeting was chaired by the Permanent Secretary, Federal Ministry of Finance, Alhaji Aliyu Ahmed.
The total distributable revenue of N601.110 billion comprised statutory revenue of N436.457 billion; Value Added Tax (VAT) revenue of N156.786 billion and augmentation of N7.867 billion from the Forex Equalisation revenue.
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The Institute of Chartered Accountants of Nigeria (ICAN) yesterday unveiled its 2019 Accountability Index (ICAN-AI) Report which showed that Kaduna State maintained its previous year’s ranking as the best state in terms of accountability in the country.
Enugu State emerged the second best state in terms of accountability in the 2019 index, which was an improvement from the seventh position the state attained the previous year. Enugu state was closely followed by Jigawa, Niger, Kwara, Plateau, Kogi, Kano, Ondo states, in that order.
Presenting the report during a hybrid event, ICAN’s Chairman Steering Committee, Zakaria Muhammed, said Kaduna emerged the best state in terms of accountability with 72.7 percent; Enugu with 58.2 percent and Jigawa with 55.9 percent.