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<p dir="ltr">The Federal Government has announced the postponement May 2022 Federation Account Allocation Committee (FAAC) meeting.</p><div class="rmxEtnoF" style="clear:both;float:left;width:100%;margin:0 0 20px 0;"><script async src="https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js"></script>

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<p dir="ltr">The sudden postponement may not unconnected with the ongoing investigation of the Accountant General of the Federation, Ahmed Idris, over alleged fraud to the tune of 80 billion naira.</p><div class="Jv49LWG3" style="clear:both;float:left;width:100%;margin:0 0 20px 0;"><script async src="https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js"></script>

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<p dir="ltr">The FAAC meeting is a monthly meeting where the federation allocates monthly revenue among the three tiers of government.</p>
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<p dir="ltr">The meeting has earlier been scheduled to hold virtually between May 18 to 19, 2022.<br />
The Ministry of Finance, Budget and National Planning, said this on Wednesday in a letter signed by Stephen Okon, Director, Home Finance.</p>
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<p dir="ltr">The ministry said the meeting was postponed due to “certain circumstances”.</p>
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<p dir="ltr">“I am directed to inform you that the Federation Account/Allocation Committee (FAAC) meetings earlier scheduled to hold/virtually on the 18th and 19th May 2022 have been postponed due to/certain circumstances,” the circular reads.</p>
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<p dir="ltr">“In view of the foregoing, I am to further inform you that the new date for the meetings will be forwarded to you in due course.</p>
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<p dir="ltr">“While we regret the inconveniences this change might cause you, please accept the assurances of the Honorable Minister’s warm regards,” the letter read in part.</p>
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<p dir="ltr">The Economic and Financial Crimes Commission (EFCC) had on Monday arrested and detained Idris over an alleged N80 billion fraud.</p>
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<p dir="ltr">The Minister of Finance, Budget and National Planning, announced indefinite suspension of Idris on Wednesday.</p>
<p dir="ltr">Ahmed said the suspension “without pay” was to allow for “proper and unhindered investigation” in line with public service rules.</p>
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Economic Confidential</p>
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