CROSS RIVER RECEIVED OVER N166BN AS FAAC ALLOCATIONS IN 12 MONTHS
By Our Reporter
CROSS River state government received the total sum of N166,871,702,316.46 from Federation Account Allocation Committee (FAAC) for months, THE BEAGLE NEWS can authoritatively reveal.
According to document obtained from Office of the Accountant General of the Federation (OAGF), the breakdown shows that FAAC to Cross River State Government, within the
12 months covering November 2023 to October 2024, was a total gross N105,926,664,125.3 a total net is N94,391,007,159.95 while distribution of revenue allocated to Cross River State 18 local government councils from the month of November, 2023 to October, 2024 was N72, 480, 695,156.51.
The summary of Revenue Allocation by Federation Account Allocation Committee (FAAC) shows that vCross River state got total Net of N7, 166, 625,959.46 for the month of
November 2023 shared in December 2023.
In December 2023, the state government got a total net of N7, 971, 017, 143. 01 as shared in January, 2024.
For January 2024 as shared in February 2024, the state government got a total Net of N6,609,928,981.32 while the sum of N5,342,119,218.26 was received by the state as Februray 2024 FAAC shared in March 2024.
While in March 2024, the state got a total net of N6,688,878,709.59 as shared in April 2024, the April, 2024, as shared in May, 2024 was N6,925,552,345.4.
For May, 2024, the state got the sum of N6,538,630,474.25 from FAAC as shared in June, 2024, while June 2024 as shared in July 2024 total Net was N8,283,051,716.37
In July 2024, FAAC to Cross River state as shared in August 2024 was the sum of N8,136,376,124.63 as net, while the sum of N8,985,896,698.41 accrued to the state for
August 2024 as shared in September 2024.
For the month of September 2024, the revenue from FAAC to Cross River state was N7,655,407,988.66 as shared in October 2024 and the sum of N8,433,013,821.89 accrued from FAAC to Cross River state for the month of October 2024 as shared in November 2024.
This brings to the total net of N94,391,007,159.95 in addition to the sum of N72, 480, 695,156.518 for 18 local government councils from the month of November, 2023 to October, 2024, bringing it to the sum of N166,871,702,316.46 as FAAC to states and councils.
Checks by THE BEAGLE NEWS showed that the above-stated sum came into the state coffers during the time the Head of Local Government Administration (HOLGA) was at the helm of affairs of the 18 local government councils.
Checks further showed that the allocations to councils were not paid directly into local government accounts and so the entire funds were said to have been managed by the state government.
As at the time of going to the press, the disbursement charts for November and December 2024 have not been officially made available to our news desk and once released, it will be made public.
