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FCT Joint Account Allocation Committee (JAAC) met Tuesday and

distributed the sum of N2,076,826,375.10 to the six Area Councils of

the Federal Capital Territory being monies accruing to them from the

Federation Account.
The FCT Minister, Malam Muhammad Musa Bello, who made this disclosure

on Friday in his office said that the meeting was sequel to the

earlier meeting held by the Federation Account Allocation Committee on

20th – 21st July 2016.
According to him, the sum comprises Statutory Revenue Allocation of

N693,573,662.37; Value Added Tax of N1,225,698,970.67, and Exchange

Rate Gains (June) of N141,394,993.28; Share of Solid Minerals Revenue

of N16,158,748.78 totalling N2,076,826,375.10.
Malam Bello revealed that Abuja Municipal Area Council received the

highest share of N483,398,486.25; followed by Bwari Area Council that

got N346,279,184.91.
Others are Gwagwalada Area Council with N322,556,405.52; Kuje Area

Council got N313,546,166.14; Kwali Area Council received

N316,305,794.87 and Abaji Area Council which received the lowest share

of N294,740,337.19 for the month of June 2016.
The Minister disclosed that statutory deductions were however made in

accordance with the Fund Allocation Monitoring Act payment of the

Primary School Teachers Salaries, 15% Pension Fund, 1% Training Fund

as well as 7.5% Employer Pension Contribution.
He further disclosed that after all the statutory deductions, Abaji

Council had net allocation of N134,509,460.25; AMAC received

N172,972,985.46; Bwari received N137,625,620.69; while Gwagwalada,

Kuje and Kwali received N163,545,302.29, N137,864,095.91 and

N141,670,287.82 respectively totalling N888,187,752.42.

The FCT Permanent Secretary, Dr. Babatope Ajakaiye, chaired the JAAC

meeting on behalf of the Minister.
The post FCT AREA COUNCILS SHARE N2.07BN JUNE 2016 ALLOCATION appeared first on Pointblank News .