23.02.2012 - FAAC takes N187bln from Excess Crude Account
The Federation Account Allocation Committee (FAAC) Wednesday deducted N187.090 billion from the Excess Crude Account (ECA) to make up for the shortfall in revenue for the month of January. The gross revenue of N666.324 billion in the month under review was lower than the N892.705 billion realised in the previous month. That difference was N226.381 billion. Meanwhile, a total of N614.4 billion was Wednesday shared among the three tiers of government for January...............................................Full Article: Source
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