Fed Govt raises N500bn emergency security fund amid bandit attacks

The Federal Government deducted roughly N500bn from May 2026’s FAAC revenue for a national security emergency fund before sharing N2.3tn among the three tiers of government, according to The PUNCH.

Turns out there’s more to May’s FAAC numbers than meets the eye. According to The PUNCH, around N500bn was quietly siphoned off for a national security emergency fund — before the N2.3tn allocation was split between federal, state, and local governments. Sources say state finance commissioners knew but stayed mum. Official documents show N250bn went to a Military Intervention Fund and N252bn to Infrastructure Development, with a separate N450bn shaved off into the Non-Oil Excess Revenue Account.

Economists like Dr. Ayo Teriba are cautiously on board — security funding gaps are real, they say — but they’re demanding transparency. Meanwhile, the DSS wants foreign donations blocked from a related Trust Fund bill, citing sovereignty concerns.