The Federation Accounts Allocation Committee (FAAC) shared N651.18b Federation Account Revenue for the month of June to councils of federal, state, local governments and relevant agencies.
FAAC Director of Media, Press and Public Relations Henshaw Ogubike Sunday, announced the figures in a statement in Abuja.
Ogubike said the Federation’s Accountant General, Ahmed Idris, chaired the monthly meeting held by virtual conferencing.
He clarified that the gross statutory revenue available in June was N524.52b, while the gross Value Added Tax (VAT) revenue was N128.826b and the Exchange Profit revenue was N42.832b, making N696.18b as overall revenue for the month.
The director said the amount of N45b in the excess non-oil income account was saved from this number and the balance of N651.184b was shared with the three levels of government and related agencies.