FAAC Shares Record N3trn After July Revenue Jump
The Federation Account Allocation Committee has disbursed a record 3.007 trillion naira to Nigeria’s three tiers of government for July. The disbursement marks an 18 per cent jump from the 2.551 trillion naira shared the previous month. Financial chiefs gathered in Owerri, Imo State, to divide the swollen federation purse. Higher petroleum profits, company taxes,…