No Cause For Alarm Over May FAAC Postponement — FG

The federal government has allayed fears arising from the postponement of the Federal Account Allocation Meeting (FAAC) for May 2022.

Due to the ongoing probe of the Accountant General of the Federation, Mr Ahmed Idris over alleged N80bn fraud, the federal government postponed the May Federation Account Allocation Committee (FAAC) meeting which was expected to hold on 18th and 19th May 2022.

The ministry of finance, budget and national planning stated this in Wednesday in a circular signed by the Director, Home Finance, Stephen Okon.

The ministry said the meeting was postponed due to “certain circumstances”

However, in a telephone interview with the Daily Trust, Mrs Phil Abiawute-Mowete, Director, Information/Press, Federal Ministry of Finance, Budget, and National Planning, said there is no cause for alarm over the postponement.

She said “The meeting has just being shifted, they will still meet.”

Asked when the meeting will hold, she said “There are some issues that needs to be sorted out and once they sort it out, they will meet. No date has been fixed yet, but as soon as a date is fixed, it will be communicated. It has just been shifted, FAAC will meet unfailingly.”