Naira notes

A total N6,609,759,939 is the amount that accrued to Kogi State from the Federation Account for the month of June, 2020. This amount is made up of N3.6 billion allocated to the State Government and N2.9 billion allocated to the 21 Local Government Areas in the state.

State Commissioner for Finance, Budget and Economic Planning, Mukadam Asiwaju Idris made this known in a statement.

“The state net statutory allocation for the month of June is N2,390,270,222.22. The value added tax(VAT) for the month of June is N1,031,567.784.95. The Exchange gain and Excess bank charge for the month of June is N195,062,398.85 and 7,895,816.25 respectively.

“Therefore,the state gross statutory distributable income for the month of June is N3,624,796,222.22

“The 21 local government areas in Kogi state received a net statutory allocation of N2,126,171,584.30 for the month of June . The Value added tax(VAT) for the month of June is N706,427,235.29. Also,the Exchange gain and Excess bank charge for the month of June is N141,437,346.22 and N5,927,551.32 respectively.
Hence,the local Government areas gross statutory allocation is N2,984,963,717.13

“The above figures summarise the receipt for the month of June for both state and LGA’s.

Asiru noted that Its a responsibility placed on the administration to deliver good governance to the people via accountability and openness, to which the New Direction Ideology, shall remain committed.