FAAC

A vendor shows old and newly introduced Nigerian Naira banknotes in a market in Lagos on February 16, 2023. - Nigeria has been struggling with a shortage in physical cash since the Central Bank of Nigeria (CBN) began to swap old bills of the local naira currency for new, re-designed ones, leading to a shortfall in banknotes. (Photo by Michele Spatari / AFP)

Fresh worries for naira as FAAC shares N1.149tr to FG, states, LGAs  

Amid the worsening economy occasioned by galloping inflation, the federation revenue rose to N2.068 trillion in January out of which the Federation Allocation Committee (FAAC) yesterday shared N1.149 trillion to the Federal
5 months ago
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