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Veteran Nollywood actor Taiwo Hassan, popularly known as 'Ogogo,' has died at the age of 65, prompting an outpouring of tributes from President Tinubu, fellow actors, and fans. He was buried in Ilaro, Ogun State, with many mourning his passing and celebrating his contributions to Nigerian culture.
Nigerian political figures are discussing Bola Tinubu's presidential campaign, with some questioning his absence from a peace accord signing and others demanding the release of his records. Meanwhile, various other news items cover topics from asylum seekers to health advice.
Nigeria’s Federal, State, and Local Governments shared N3.007 trillion in July 2026 FAAC revenue, a significant increase driven by higher petroleum and non-oil taxes.
The Lagos State House of Assembly has approved a N200bn bond and a FAAC financing scheme. These funds are intended to finance critical infrastructure projects and boost development in Lagos.
Civil society organizations in Nigeria are calling for greater transparency and accountability regarding the N10.45 trillion FAAC disbursements, citing worsening hardship for citizens.
Diezani Alison-Madueke, Nigeria's former petroleum minister, has been acquitted of bribery charges by a UK court, but still faces an open corruption case in Nigeria regarding allegations of lavish spending and illicit enrichment during her tenure.
Nigeria's Federation Account Allocation Committee (FAAC) allocation increased to N2.26 trillion in April 2026, primarily driven by higher tax collections.
The Socio-Economic Rights and Accountability Project (SERAP) has urged Nigeria's Independent National Electoral Commission (INEC) to investigate allegations that APC governors diverted N800 billion from the Federation Account for political campaign funding, citing electoral integrity risks.
A World Bank report highlights how Nigeria's rising revenues are being diluted by increasing obligations and FAAC deductions, prompting calls for greater transparency in financial management.
The Nigerian government has terminated the Customs' 7% FAAC deduction policy, introducing a new 4% Free-on-Board funding model that is expected to impact federal revenue.
FAAC records show Akwa Ibom received N119.82 billion in oil derivation funds over four months, contradicting Governor Eno's claim that the state stopped receiving revenue since September 2025.
Nigerian governors are under pressure to account for N47 trillion in FAAC payouts received since the removal of fuel subsidies, with questions arising about the impact of this revenue surge on public services.
Major General Ijioma Nwokoro Ijioma (ret.), a governorship candidate in Abia State, has challenged Governor Otti over a N150 million signage fee and threatened legal action, demanding an account of FAAC and IGR funds.
Nigeria's Minister of Finance, Prof. Taiwo Oyedele, announced that the Federal Government's economic reforms have significantly increased monthly Federal Allocation Committee (FAAC) allocations to over N2 trillion, up from an average of N300 billion.
The Federation Account Allocation Committee (FAAC) has shared N2.55 trillion among the federal, state, and local governments as June revenue. This marks a significant increase in allocation compared to previous months.
Bayelsa state reported spending a total of N26.1 billion on salary-related components for the months of April and May, while also receiving a FAAC inflow of N76.1 billion.
The Federation Account Allocation Committee (FAAC) has disbursed a total of N2.300 trillion among the federal, state, and local governments as revenue allocation for May 2026.
Nigerian federal, state, and local governments have shared N2.257 trillion in revenue for April 2026, as announced after the recent FAAC meeting in Abuja.
Following recent xenophobic attacks in South Africa, Nigeria is facilitating the repatriation of over 130 of its citizens and has demanded a thorough investigation into the killings of Nigerians, seeking justice and improved safety measures.
FAAC deductions have accounted for 41% of Nigeria’s N84tn revenue over the past three years, significantly reducing funds available for development despite recent economic reforms.
FAAC shares N1.894 trillion from February 2026 revenue. Learn about the FAAC revenue sharing breakdown between federal, state, and local governments. Read More:…
….As Mbah lists gains of connecting to the centre …Lauds Tinubu’s economic policies, more FAAC inflows to states …Chukwunweike: No Enugu governor has done one tenure since 1999 The Enugu State…
Kaduna State has cleared N18 billion in pension arrears, a move attributed to a boost in its FAAC allocation. Additionally, the state's farm budget has increased to N100 billion, signaling a focus on agricultural development.
The Federal Government, states, and local government areas in Nigeria have shared a total of N3 trillion from the Federation Account Allocation Committee (FAAC). This distribution represents the revenue allocated among the three tiers of government.
This article is an archive page related to the Federal Accounts Allocation Committee (FAAC), which is responsible for distributing revenue from the Federation Account to Nigeria's three tiers of government.
Elon Musk and Sam Altman engaged in a public dispute on X following Apple's lawsuit against OpenAI, with Apple accusing OpenAI of espionage and theft of secrets. The lawsuit and the subsequent public spat highlight the intensifying rivalry in the tech and AI sectors.
The Federal Government of Nigeria has raised a N500bn emergency security fund from FAAC revenue to combat banditry and other security threats across the country.
Nigeria's Federal Account Allocation Committee (FAAC) reported an increase in allocation to N2.3 trillion in May 2026, a N43 billion rise from April, to be shared among federal, state, and local governments.
Nigeria's Federal Account Allocation Committee (FAAC) distributed N2.26 trillion to the federal, state, and local governments for April 2026, marking a significant increase from the previous month.
The Nigerian Federal Government has introduced a new compensation scheme for injured and deceased civil servants, alongside measures to address bottlenecks in the existing system. These initiatives aim to improve support for public sector employees and their families.
Anambra Governor Soludo calls for a review of the FAAC sharing formula to accommodate state police, arguing the current revenue structure is unrealistic. Read More:…
The Federation Account Allocation Committee (FAAC) has shared a total of N1.894 trillion among the three tiers of government as federation allocation for February 2026. The post FG, States, LGs share…
The Minister says new directives on revenue remittances are aimed at strengthening transparency and domestic resource mobilisation, as a forensic audit of NNPC proceeds under FAAC mandate. The post Edun explains revenue remittance directive, says NNPC forensic audit ongoing appeared first on Premium Times Nigeria.