Business

JAAC: Kwara LGs share N1.1bn for March

 

By Matthew Denis

The 16 local government areas of Kwara State, yesterday, shared the sum of N1.1billion (N1, 001,705,947.67) for the month of March while another one billion Naira (N1,075,669,352.87) was released for the payment of State Universal Basic Education  Board (SUBEB) teachers’ salary.
The ALGON Chairman who doubles as the council boss of Oyun, Hon Joshua Omokanye made the disclosure, Wednesday, after the state monthly Joint Accounts Allocation Committee (JAAC) meeting held at the Ministry of Finance Conference Hall, Ilorin.
He explained that the  figure included the 10 per cent of the state government’s Internally Generated Revenue (IGR) distributable for the month, representing N45,009,731.81 and Value Added Tax (VAT) of 496,751,564.21.
According to him, the committee also agreed that all categories of LG workers; SUBEB and LGA/LGEA pension should be paid in full.
Adekanye said that the total amount distributable among  the 16 LGs  after deductions in line with law  guiding JAAC stood at N1,001,705,947.67.
He explained that  statutory allocation for month of  March stood at N2,022,806,777.65 as against  N1,958,287,816.03 received in February ;10 per cent IGR from state government,N45,009,731.81 as against N127,060,757.30 in  February.
He further explained that the fund was appropriated in line with the law guiding the local government account which included; Teachers’ salary N1,075,669,352.87; LG and LGEA pension, N449,235,596.64  among others.
He said that N30, 952,943.22 was deducted at source as repayment for the LGs previous borrowings from the banks.
He however, assured that the state government would continue to make concerted efforts to ensure prompt payment of workers.

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *