FAAC: Kwara Gets N4b For December

Updated: FAAC: Kwara Gets N4b for December

The Kwara State Government is to receive a sum of N4,081,333,488.67 as allocation from the Federation Accounts Allocation Committee (FAAC) for December 2018.

The State Commissioner for Finance, Alhaji Demola Banu, made this known in a statement released in Ilorin on Thursday.

Banu disclosed that the State Government’s allocation was made up of statutory allocation of     N2,848,282,384.32, Value Added Tax of N 845,112,525.29, foreign exchange equalisation of N381,981,982.32 and exchange gain of N5,956,596.74

Furthermore, the Commissioner revealed that the 16 Local Government Councils in the State got a total of N2,941,482,536.70 as allocation for December. 

Giving a breakdown of the allocation figures, Banu said the local councils got a statutory allocation of N2,206,023,05, Value Added Tax of N79,587,690.84, foreign exchange equalisation of N251,943,009.84, and exchange gain of N3,928,779.32

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