FCTA Disburses N4.4bn to Area Councils, Pension, Teachers
The Federal Capital Territory Administration (FCTA) disbursed N4.43 billion to the six area councils of FCT, pension scheme and primary school teachers, as statutory allocation for January 2024.
FCT Minister of State, Mariya Mahmoud, disclosed this while presiding over the 186th Joint Account Allocation Committee meeting in Abuja on Tuesday. Mahmoud pointed out that the amount represents a slight decline compared to N4.8 billion shared in the month of December 2023.
The breakdown of the figures shows that N1.97 billion was disbursed to the six area councils, while N2.46 billion was earmarked for pension scheme and primary school teachers.
On the disbursement of the N1.97 billion to the area councils, the Abuja Municipal Area Council received N475.42 million, Gwagwalada got N310 million, while Kuje received N327.51 million. Bwari Area Council received N302.89 million, Abaji got N254.14 million, while Kwali received N304.95 million.
A further breakdown of the N2.46 billion disbursed to teachers and pension scheme shows that primary school teachers received N2.1 billion, while N44.39 million was set aside as 1 per cent training fund.
Also, N226.48 million was earmarked as a 15 per cent Pension Fund, while N107.85 was earmarked as 10 per cent employer pension contribution. The minister appreciated members of the committee for their steadfastness over the years. #FCTA Disburses N4.4bn to Area Councils, Pension, Teachers Nigeria Bonds, Treasury Bills Yields Collide at 17.2%
