FAAC distributes N1.2 trillion in revenue to the Federal Government, states, and local governments for the month of April.
During the FAAC meeting held in May 2024, the allocation shared consisted of N284.716 billion in distributable statutory revenue, N466.457 billion in distributable Value Added Tax (VAT) revenue, N18.024 billion in electronic money transfer levy revenue, and N438.884 billion in exchange difference revenue.
The information was included in a statement released following the April 2024 Federation Account Allocation Committee (FAAC) meeting. As reported by Bawa Mokwa, the Director of Press and Public Relations at the Office of the Accountant General of the Federation, on Thursday.
In the previous month, the total amount held in the Excess Crude Account (ECA) was reported as $473,754.57.
