The Federal Government has reportedly removed N500 billion from the Federation Account Allocation Committee (FAAC) revenue for May 2026 to finance urgent national security operations amid worsening insecurity across the country.
The deduction was made before the monthly revenue allocation to the Federal Government, states and local government councils, according to officials familiar with the FAAC meeting.
Sources with knowledge of the development disclosed that the fund was earmarked for emergency security intervention as authorities intensify efforts to tackle rising attacks by bandits, insurgents and other criminal groups across several parts of Nigeria.
One source familiar with the matter said, “FAAC deducted N500bn for national security emergency fund this month.”
Another insider explained that the deduction significantly affected the total amount available for sharing among the three tiers of government.
“That is where the FAAC windfall is going too,” the source stated.
Further findings indicate that commissioners of finance from the 36 states, who are members
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