The federal government, states and the local governments of the federation have shared the sum of N647. 390 billion.
The sum represented federation revenue and proceeds of the Value Added Tax for the month of February.
The funds were shared the Federation Accounts Allocation Committee (FAAC) at the end of its meeting in Abuja, this morning.
It followed days of angling over receipts into the Federation Account, which the state Commissioners of Finance initially rejected and insisted that the Nigerian National Petroleum Corporation (NNPC) must pay more oil revenue into the account.
Source: Daily Trust