Friday 5 August 2016

DTSG refutes claims on N18.62b from FAAC


The Delta state Government has refuted claims that the government received more than N18.62 billion from the Fderation account.
Commissioner for Information, Mr. Patrick Ukah said that contrary the claims, that the figures below depicts the net proceeds from FAAC for July 2016:

“Gross FAAC (Statutory, Mineral Derivation, VAT, etc   N 7,485,871,893.05
Less Deductions (Bond, Foreign Loans, Salary Bailout, etc   N 2,259,803,247.27
Net FAAC receipt accruing to the State's Account for July 2016   N 5,226,068,645.78

“From the figures above it is clear that the net FAAC proceed which accrued for July 2016 is N5, 226,068,645.78 and not the N18.6billion being peddled.

“As well, the Local Government Councils (LGCs) received a gross allocation of N3.332 billion from the Federation Account for the month of July, 2016.

“It will equally interest the general public to know that the State Government has approved the payment of July salaries and pensions to all employees of the State workforce,” the commissioner declared.


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