FG postpones FAAC meeting due to ‘certain circumstances’

By Matthew Denis, Abuja

The Federal Government has postponed May 2022 Federation Account Allocation Committee (FAAC) meeting.

The FAAC meeting is a monthly meeting where the federation discuss and allocate monthly revenue.

The meeting had earlier been scheduled to hold virtually on the 18th and 19th May, 2022.

The Ministry of Finance, Budget and National Planning, said this on Wednesday in a letter signed by Stephen Okon, Director, home finance.

The Ministry said the meeting was postponed due to “certain circumstances.”

On Tuesday, the Economic and Financial Crimes Commission (EFCC) arrested Ahmed Idris, Accountant General of the federation over alleged N80 billion probe.

Zainab Ahmed, the Minister of Finance, Budget and National Planning, suspended Idris indefinitely on Wednesday.

“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.

“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.

“While we regret the inconveniences this change might cause you, please accept the assurances of the Honourable Minister’s warm regards.”