FAAC distributes N1.088trillion from November revenue to FG, States, LGs The Federation Account Allocation Committee (FAAC) has distributed a total sum of N1,088,783,000 to the Federal, State, and Local Governments in November 2023. The revenue comprised N376,306,000 from statutory allocations, N335,656,000 from Value Added Tax (VAT), N11,952,000 from the Electronic Money Transfer Levy (EMTL), and N364,869,000 from exchange differences. The communique issued by FAAC after its December meeting revealed that the total distributable revenue for November was N1,620,335,000. Total deductions for cost of collection was N60.960 billion; total transfers, interventions and refunds was...