FCT Joint Account Allocation Committee (JAAC) met Tuesday and distributed the sum of N2, 076,826,375.10 to the six Area Councils of the Federal Capital Territory being monies accruing to them from the Federation Account.
The FCT Minister, Malam Muhammad Musa Bello, who made this disclosure on Friday in his office said that the meeting was sequel to the earlier meeting held by the Federation Account Allocation Committee on 20th – 21st July 2016.
According to him, the sum comprises Statutory Revenue Allocation of N693,573,662.37; Value Added Tax of N1,225,698,970.67, and Exchange Rate Gains (June) of N141,394,993.28; Share of Solid Minerals Revenue of N16,158,748.78 totalling N2,076,826,375.10.
Malam Bello revealed that Abuja Municipal Area Council received the highest share of N483, 398,486.25; followed by Bwari Area Council that got N346,279,184.91.
Others are Gwagwalada Area Council with N322, 556,405.52; Kuje Area Council got N313,546,166.14; Kwali Area Council received N316,305,794.87 and Abaji Area Council which received the lowest share of N294,740,337.19 for the month of June 2016.
The Minister disclosed that statutory deductions were however made in accordance with the Fund Allocation Monitoring Act payment of the Primary School Teachers Salaries, 15% Pension Fund, 1% Training Fund as well as 7.5% Employer Pension Contribution.
He further disclosed that after all the statutory deductions, Abaji Council had net allocation of N134,509,460.25; AMAC received N172,972,985.46; Bwari received N137,625,620.69; while Gwagwalada, Kuje and Kwali received N163,545,302.29, N137,864,095.91 and N141,670,287.82 respectively totalling N888,187,752.42.
The FCT Permanent Secretary, Dr. Babatope Ajakaiye, chaired the JAAC meeting on behalf of the Minister.
