More Cash, Less Value: Forex Depreciation Cuts Value Of FAAC Allocation To FG, States, LG By 33%

The three tiers of government are not benefiting from the rise in monthly Federation Accounts Allocation Committee (FAAC) revenue as the real value of the allocations to the federal, state and local governments has fallen by 33.4 per cent in dollar terms, according to an analysis conducted by THE WHISTLER. When President Bola Tinubu announced …