The Federation Account Allocation Committee (FAAC) has shared the sum of 907.054 billion Naira June 2023 Federation Account Revenue to the Federal Government, States and Local Government Councils.
This was disclosed at the end of the Federation Account Allocation Committee (FAAC) meeting for July 2023.
The meeting was chaired by the Accountant General of the Federation, Dr. Oluwatoyin Madein.
The total distributable revenue comprised distributable statutory revenue of 301.501 billion Naira, distributable Value Added Tax (VAT) revenue of 273.225 billion Naira, Electronic Money Transfer Levy (EMTL) revenue of 11.436 billion Naira and Exchange Difference revenue of 320.892 billion Naira.
The balance in the Excess Crude Account (ECA) was 473,754.57 Dollars.