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BREAKING: FAAC ends rift, allocates N647bn to FG, states, LGs

The Federation Accounts Allocation Committee has suspended the revenue crisis that made it impossible to share the statutory allocation on Tuesday to pave way for the disbursement of funds to the three tiers of government.

The meeting had ended in a deadlock on Tuesday following disagreement about the revenue figures remitted into the federation account by the Nigerian National Petroleum Corporation for sharing by the three tiers of government.

But late last night, the Minister of Finance, Mrs Kemi Adeosun intervened by reconvening the meeting on Wednesday.

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