What FG, States, LGs Received As August Revenue – FAAC

What FG, States, LGs Received As August Revenue – FAAC

In August 2023, the Federation Account Allocation Committee (FAAC) disbursed a total of N1.1 trillion in Federation Account Revenue to the Federal Government, States, and Local Government Councils, as reported by the Office of the Accountant General of the Federation on Friday.

The FAAC released a communique during its September 2023 meeting, outlining the “N1100.101 billion total distributable revenue,” according to a statement from the OAGF’s Director of Press and Public Relations, Bawa Mokwa.

Read Also 5 Ways To Control Cockroaches In Your Home

The allocation included distributable statutory revenue of N357.398 billion, distributable Value Added Tax (VAT) revenue of N 321.941 billion, Electronic Money Transfer Levy (EMTL) revenue of N14.102 billion, Exchange Difference revenue of N 229.568 billion, and Augmentation of NN177.092 billion.

The communique further stated that a total revenue of N1.48 trillion was available in August 2023. Deductions for the cost of collection amounted to N58.755 billion, total transfers and refunds were N254.046 billion, and savings accounted for N71.000 billion.

tay Updated With More News By Joining Our WhatsApp Group With The Link Below

https://chat.whatsapp.com/K4lp5EKuqaACBUywirqziW