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FG did not print N60 billion -FAAC

FAAC: FG did not print N60 billion to augment FAAC – Finance Minister

FAAC

What is distributed at the FAAC is revenue that is generated by NNPC, FIRS, Customs, the Minister said.

The Nigerian Government has stated that the claim made by the Edo State Governor, Godwin Obaseki, that N60 billion was printed as top-up for the Federation Account Allocation Committee (FAAC) in the month of March is untrue.

This was disclosed by the Minister of Finance, Zainab Ahmed, at the Federal Executive Council (FEC) meeting in the State House, Abuja on Wednesday.

“The claim by the Edo State Governor that we printed money to distribute at the Federation Account Allocation Committee is very sad, because it is NOT a fact,” she said.

“What we distribute at the Federation Account Allocation Committee is revenue that is generated by NNPC, FIRS, Customs… It is not true to say we printed money to distribute at the Federation Account Allocation Committee,” she added.

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