The Accountant-General of the Federation Ahmed Idris has made a statement on the amount distributed at the emergency Federation Accounts Allocation Committee (FAAC) meeting.
He noted that the information in the public domain is inconsistent with the details of the amount distributed.
In a statement on Tuesday by Head and Deputy Director, Press and Public Relations, Kenechukwu Offie, Idris said it has become necessary to provide further clarification about the outcome of the said emergency FAAC meeting.
It said the amount distributed was not from the Excess Crude Account (ECA) but rather the accrued company income tax (CIT) realised from the Liquefied Natural Gas (LNG) N359, 374,355, 607.60.
“That the amount that was distributed was less the cost of collection. The Federal government got 56.68% amounting to N181,745,674,112.72. The State governments got 26.72% amounting to N92,183,834,705.62. Local government councils got 20.60% amounting to N71,069,872,564.96,” the statement said.
The statement further stressed that Idris makes this clarification in order to provide Nigerians with the correct and authentic information about the outcome of the proceedings at the Federation Accounts Allocation Committee meeting.
He added that no withdrawal was made from the Excess Crude Account (ECA) and that the current balance still remains $2.1 billion.
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