20.8 C
Abuja

FAAC meeting may hold soon as FG appoints acting AG

Advertisement

Related

Advertisement
Advertisement

THE Federation Account and Allocation Committee (FAAC) meeting for this month, which was postponed last week, may hold before the month ends as the Federal Government has appointed a new acting Accountant-General of the Federation (AGF). 

The appointment of the acting AGF,  Anamekwe Chukwunyere Nwabuoku, was today announced by the Special Adviser to President Muhammadu Buhari on Digital Media, Bashir Ahmad, in his official twitter @BashirAhmad.


READ ALSO:

FAAC meeting postponement: Capital, overhead releases to suffer pending new AG appointment

Tax payment: FAAC, FIRS rank NNPC high despite zero FAAC remittance

FAAC shares N725. 571bn March 2022 revenue to FG, States, LGs

South-South, North-West receive largest chunk of N619bn FAAC allocation in January


- Advertisement -

Nwabuoku has been appointed to oversee the office of the AGF pending the outcome of the investigation the Economic and Financial Crimes Commission (EFCC) is conducting against his immediate substantive predecessor, Ahmad Idris.

Idris, was suspended over an alleged N80 billion fraud.

On the back of the suspension, The ICIR reported that there could be delays in capital releases for federal and state projects, alongside overhead expenditures pending the appointment of a new AGF.

The AGF, according to the law, is empowered to release the mandate that enables payment of federation allocations to the federal, states and local governments.

Nigeria is a federating unit, and the AGF is empowered by law to raise mandates for the sharing of proceeds from revenue generating agencies to the different tiers of the government.

The FAAC meeting is a monthly affair where the federation allocates monthly handouts to the three tiers of government.

This month’s meeting was initially scheduled to hold on May 18 and 19, 2022.

- Advertisement -

But the ministry of finance, budget and national planning had confirmed its postponement last Wednesday in a circular issued and signed by Stephen Okon, the director, home finance.

However, following the appointment of the new acting AGF, there are possibilities of the FAAC meeting holding this week to forestall possible incidences of salary delays across the three tiers of government.

Support the ICIR

We invite you to support us to continue the work we do.

Your support will strengthen journalism in Nigeria and help sustain our democracy.

[molongui_author_box]

If you or someone you know has a lead, tip or personal experience about this report, our WhatsApp line is open and confidential for a conversation

Advertisement

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Support the ICIR

We need your support to produce excellent journalism at all times.

Advertisement

Recent

Bandits kill assistant commissioner of police, one other in Katsina

BANDITS killed an Assistant Commissioner of Police (ACP) in charge of Dutsinma Area Command...

Gunmen attack Buhari’s convoy in Katsina

GUNMEN have attacked the advance convoy of President Muhammadu Buhari in his home state,...

Motorists, workers groan as fuel scarcity bites harder

MOTORISTS and workers in the Federal Capital Territory (FCT) are still groaning under the...

How informal sector employees can access NSITF benefits in event of accident

INFORMAL sector workers can access benefits of the 'Employees Compensation' scheme from the Nigerian...

My missing high school result was second-best nationally in 1976 – Okowa

THE vice presidential candidate of the Peoples Democratic Party (PDP) and Delta State governor,...
Advertisement

Most Read

Advertisement

Subscribe to our newsletter

Advertisement