Dele Oye: FG Retained N1.1 Trillion Before Sharing May FAAC Allocation

• Alleges distortion of fiscal federalism

• Advocates mandatory 10% savings into Sovereign Wealth Fund before distribution

James Emejo in Abuja

Chairman, Alliance for Economic Research and Ethics (AERE), Mr. Dele Oye, yesterday accused the federal government of retaining about N1.1 trillion from the federation account before disbursing the May 2026 Federation Account Allocation Committee (FAAC) revenue to other tiers of government.

Oye described the development as a major distortion of fiscal federalism, and stated that the federal authorities effectively appropriated 32 per cent of total federation revenue at source before sharing the balance among the three tiers of government.