{"id":40219,"date":"2015-07-06T21:49:04","date_gmt":"2015-07-06T20:49:04","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=40219"},"modified":"2015-07-06T21:49:04","modified_gmt":"2015-07-06T20:49:04","slug":"states-fg-to-share-1-7-billion-from-excess-crude-account","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/states-fg-to-share-1-7-billion-from-excess-crude-account\/","title":{"rendered":"States, FG To Share $1.7 Billion from Excess Crude Account"},"content":{"rendered":"

The Accountant General of the Federation (AGF), Ahmed Idris, on Monday \u00a0disclosed that \u00a0three tiers of government will share $1.7 billion (N391 billion) from the Excess Crude Account (ECA) .<\/p>\n

\n

Speaking to State House correspondents \u00a0in Abuja, he said the move would help indebted states clear backlog of salaries owed government workers and pay contractors.<\/p>\n

The fall in the crude accruals of the nation was attributed to shortfalls in oil revenue, just as assurances were given that revenue leakages will be plugged.<\/p>\n

The AGF however said that the remaining money would be shared among Federal, States and Local Government, by the Federation Accounts Allocation Committee (FAAC).
\n\u200e
\nIdris told State House Correspondents shortly after briefing President Muhammadu Buhari on the state of the nation\u2019s finances that the amount he met in the ECA \u201cis hovering between $1.6 to $1.7 billion, and that is what we are going to distribute among all the three tiers of governments \u2013 the federal, states and local governments \u2013 based on the approved formula.\u201d<\/p>\n

The AGF further said: \u201cEven today, we are going to meet. The FAAC is going to meet, and we are going to distribute as agreed and directed during the NEC meeting last week, and the position is very clear. What we met on ground is what we are going to distribute.\u201d<\/p>\n

He assured Nigerians that there would be prudent and transparent management of the country\u2019s resources.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Accountant General of the Federation (AGF), Ahmed Idris, on Monday \u00a0disclosed that \u00a0three tiers of government will share $1.7 billion (N391 billion) from the Excess Crude Account (ECA) .…<\/p>\n","protected":false},"author":1,"featured_media":40220,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-40219","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"\nStates, FG To Share $1.7 Billion from Excess Crude Account - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/exclusive\/states-fg-to-share-1-7-billion-from-excess-crude-account\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"States, FG To Share $1.7 Billion from Excess Crude Account - 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