The Federal Government appears to have bowed to pressure as reports say they reached an agreement with the state governments to suspend the deduction of $418 million Paris Club refunds from the states and local governments’ accounts pending the determination of court cases on the issue.
According to a report from Punch, with the agreement reached between the Federal Ministry of Finance and officials from the states, the monthly Federal Account Allocation Committee (FAAC) meeting which was deadlocked last Friday, will likely hold today (Thursday), although it is still unclear if the new development will affect October revenue allocation.
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