The federal government has postponed May 2022 federation
account allocation committee (FAAC) meeting.
The FAAC meeting is a monthly meeting where the federation
allocates monthly revenue among the three tiers of government.
The meeting was initially scheduled on hold on May 18 and
19, 2022.
The ministry of finance, budget and national planning said
this on Wednesday in a circular signed by Stephen Okon, director, home finance.
The ministry said the meeting was postponed due to “certain
circumstances”.
“I am directed to inform you that the Federation
Account/Allocation Committee (FAAC) meetings earlier scheduled to
hold/virtually on the 18th and 19th May 2022 have been postponed due to/certain
circumstances,” the circular reads.
“In view of the foregoing, I am to further inform you that
the new date for the meetings will be forwarded to you in due course.
“While we regret the
inconveniences this change might cause you, please accept the assurances of the
Honorable Minister’s warm regards.”
On Monday, the Economic and Financial Crimes Commission
(EFCC) arrested Ahmed Idris, accountant general of the federation, over an
alleged N80 billion fraud.
Zainab Ahmed, the minister of finance, budget and national
planning, announced an indefinite suspension of Idris on Wednesday.
Ahmed said the suspension “without pay” was to allow for
“proper and unhindered investigation” in line with public service rules.
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