FCT Joint Account Allocation Committee (JAAC) met yesterday (Tuesday) and distributed the sum of N1, 357,200,632.16 to the six Area Councils of the Federal Capital Territory being monies accruing to them from the Federation Account.
The FCT Permanent Secretary, John Obinna Chukwu, FNSE, who made this disclosure on Wednesday in his office, said that the meeting was sequel to the earlier meeting held by the Federation Account Allocation Committee on the 28th October 2015.
According to him, the sum comprises Statutory Revenue Allocation of N537,726,587.06; Value Added Tax of N810,831,802.55, and Exchange Rate Gains (September) of N8,642,242.55 totaling N1,357,200,632.16.
Chukwu revealed that Abuja Municipal Area Council received the highest share of N319,460,619.00; followed by Bwari Area Council that got N226,224,863.02.
Others are Gwagwalada Area Council with N210,339,633.12; Kwali Area Council got N205,646,888.29; Kuje Area Council received N203,984,421.82 and Abaji Area Council which received the lowest share of N191,544,206.81 for the month of September 2015.
The Permanent Secretary disclosed that statutory deductions were made in accordance with the extant laws on the payment of the Primary School Teachers Salaries, 15% Pension Fund, 1% Training Fund; LEA Teachers Monetization Entitlements as well as 7.5% Employer Pension Contribution.
Chukwu announced that September 2015 Internally Generated Revenue (IGR) for the FCT Administration whose 10% is statutorily paid to the Area Councils was being computed and will be released to the Area Councils once it is ready.
The Permanent Secretary therefore enjoined the Council Chairmen to make judicious use of the funds received by ensuring that transparency and accountability remain their watchword.
He also strongly advised the Councils to evolve ways of improving their internally generated revenues (IGR) in view of the dwindling resources accruing to the government.
