FG Withholds N500bn from FAAC for Security Operations

The Federal Government has reportedly removed N500 billion from the Federal Account Allocation Committee (FAAC) revenue for May 2026 to finance urgent national security operations due to worsening insecurity across Nigeria. This deduction, made from the monthly revenue allocation to federal, state, and local government councils, is intended to tackle the rise in bandit attacks and insurgent activities.

Sources familiar with the FAAC meeting disclosed that the fund is earmarked for emergency security interventions. The deduction significantly affects the total amount available for sharing among the three tiers of government.

Despite this deduction, FAAC distributed N2.3 trillion in revenue for May 2026, representing an increase of N43 billion compared to April. The distribution included N1.611 trillion in statutory revenue and N688.785 billion in value-added tax.

The total gross revenue available for May stood at N3.395 trillion, with deductions for costs and transfers amounting to N971.610 billion.