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Home State FAAC: As Kwara Gets N3.3bn for March, 16 LGAs to share N2.4bn
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FAAC: As Kwara Gets N3.3bn for March, 16 LGAs to share N2.4bn

By
Alabidun Shuaib Abdulrahman
-
March 28, 2019
Kwara Governor Abdulfatah
Kwara Governor Abdulfatah

FAAC: As Kwara Gets N3.3bn for March, 16 LGAs to share N2.4bn

By Alabidun Shuaib Abdulrahman

Kwara State Government said it has received a sum of N3,307,918,431,91 as allocation from the Federation Accounts Allocation Committee (FAAC) for the month of March, 2019.

The State Commissioner for Finance, Alhaji Demola Banu, made this known in a statement he released to newsmen in Ilorin on Thursday.

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According to Banu, the State Government’s allocation was made up of statutory receipt of N2,135,323,050.74bn, Value Added Tax (VAT) of N901,610,816.11m, exchange gain of N4,725,434.41m, excess bank charges of N25,193,474.21m, and foreign exchange equalisation N241,065,656.44m.

He further explained that the 16 Local Government Councils in the State are to receive N2,425,638,638,39 as allocation for the month.

The Commissioner, however, clarified that the council’s allocation comprises statutory allocation of N1,735,851,170.04bn, VAT of N511,054,779.12m, exchange gain of N3,116,744.30m, excess bank charges of N16,616,803.97m and foreign exchange equalisation of N158,999,140.96m.

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Alabidun Shuaib Abdulrahman
Alabidun Shuaib Abdulrahman
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Police Neutralise Kidnappers, Arrest Suspects, Recover Arms in Nationwide CrackdownPolice Raid Bandits’ Camps, Recover Arms, Arrest Suspects in BenueArewa Economic Forum Chairman Loses MotherLuanda Summit: AUDA-NEPAD Taps AI, Green Bonds as it Launches Marketplace for Africa’s Infrastructure PushFlood Alert: Heavy Rains Threaten 7 Nigerian States this Weekend August 24-24NAF Eliminates Over 35 Terrorists at Assembly Point Near Cameroon BorderPolice Arrest 65-Year-Old Arms Trader, Suspected Chinese Illegal Miner in AnambraCustoms Consolidates Reforms as Reputation Campaign Wraps Up in Zone ‘D’Navy Dismantles Illegal Refining Site in BayelsaIs Zacch Adedeji Building Bridges for Nigeria’s Revenue Future? By Yushau A. ShuaibMattress of Terror: Can Nigeria Ever Be Truly Secure? By Haroon Aremu AbiodunArewa Consultative Forum Engages Influencers to Amplify Northern IdentityMan, 65, arrested for illegal arms deal in Anambra - PoliceDelegations Arrive Abuja for Inaugural African Defence Chiefs SummitTroops Neutralise 7 Bandits, Recover Motorcycles in Katsina
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