FCT Joint Account Allocation Committee (JAAC) met Tuesday and
\ndistributed the sum of N2,076,826,375.10 to the six Area Councils of
\nthe Federal Capital Territory being monies accruing to them from the
\nFederation Account.
\nThe FCT Minister, Malam Muhammad Musa Bello, who made this disclosure
\non Friday in his office said that the meeting was sequel to the
\nearlier meeting held by the Federation Account Allocation Committee on
\n20th \u2013 21st July 2016.
\nAccording to him, the sum comprises Statutory Revenue Allocation of
\nN693,573,662.37; Value Added Tax of N1,225,698,970.67, and Exchange
\nRate Gains (June) of N141,394,993.28; Share of Solid Minerals Revenue
\nof N16,158,748.78 totalling N2,076,826,375.10.
\nMalam Bello revealed that Abuja Municipal Area Council received the
\nhighest share of N483,398,486.25; followed by Bwari Area Council that
\ngot N346,279,184.91.
\nOthers are Gwagwalada Area Council with N322,556,405.52; Kuje Area
\nCouncil got N313,546,166.14; Kwali Area Council received
\nN316,305,794.87 and Abaji Area Council which received the lowest share
\nof N294,740,337.19 for the month of June 2016.
\nThe Minister disclosed that statutory deductions were however made in
\naccordance with the Fund Allocation Monitoring Act payment of the
\nPrimary School Teachers Salaries, 15% Pension Fund, 1% Training Fund
\nas well as 7.5% Employer Pension Contribution.
\nHe further disclosed that after all the statutory deductions, Abaji
\nCouncil had net allocation of N134,509,460.25; AMAC received
\nN172,972,985.46; Bwari received N137,625,620.69; while Gwagwalada,
\nKuje and Kwali received N163,545,302.29, N137,864,095.91 and
\nN141,670,287.82 respectively totalling N888,187,752.42.
\nThe FCT Permanent Secretary, Dr. Babatope Ajakaiye, chaired the JAAC
\nmeeting on behalf of the Minister.<\/p>\n","protected":false},"excerpt":{"rendered":"
FCT Joint Account Allocation Committee (JAAC) met Tuesday and distributed the sum of N2,076,826,375.10 to the six Area Councils of the Federal Capital Territory being monies accruing to them from…<\/p>\n","protected":false},"author":1,"featured_media":49958,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-51967","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n