About N500bn was deducted from the Federation Account Allocation Committee revenue for May 2026 to fund a national security emergency intervention, multiple sources familiar with the development told The PUNCH.
The deduction was made before the monthly revenue sharing exercise among the Federal Government, states and local government councils, according to senior officials privy to the FAAC proceedings.
Confirming the development, one of the sources said, “FAAC deducted N500bn for national security emergency fund this month.”
Another official added that the deduction accounted for a significant portion of the gap between the total revenue generated and the amount eventually distributed to the three tiers of government.
“That is where the FAAC windfall is going too,” the source said.
