Presidential Committee Proposes Daily Disbursement of Funds Through FAAC

The Presidential Fiscal Policy and Tax Reform Committee has recommended changing the frequency of fund disbursements by the Federation Account Allocation Committee (FAAC) from monthly to daily.

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According to Taiwo Oyedele, the Chairman of the Presidential Fiscal Policy and Tax Reform Committee, the committee believes “the system can be configured to credit the accounts of local, state, and federal governments daily.”

Oyedele shared this proposal during a workshop held in Abuja on Monday for journalists and analysts.

The current process involves the monthly distribution of funds from the Federation Account to the three tiers of government – federal, state, and local. The Presidential committee’s suggested change aims to make the disbursement of these funds a daily occurrence rather than monthly.

This proposal is part of the ongoing efforts by the Presidential Fiscal Policy and Tax Reform Committee to review and potentially update the mechanisms for managing the country’s public finances.

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