Katsina gov’t repays loan with N1.53bn in 3 months
– Received over N14bn from FG during the period
New data from the Office of The Accountant General of Nigeria revealed that Katsina State Government has received a net total sum of N14.77bn from the Federation account as FAAC allocation from January to March, 2020.
FAAC stands for Federal Account Allocation Committee and it is being referred to money being shared to the three (3) tiers of government (Federal, States and Local Governments) monthly.
Within the duration under review, also, the sum of N1.53bn was being deducted from the Katsina State government allocation from source for repayment of loans and other obligations the state secured.
Recall that recent publications put Katsina at the top of poor and non viable states for largely depending on federal allocations for its sustainability.