Disbursement Services

A final statement of allocation is produced after the conclusion of the Plenary Meeting and a payment mandate is generated mandating CBN to execute disbursement in favour of the relevant beneficiaries.

Where money is deducted at source in favour of a third-party beneficiary, and the transaction proves inchoate, such money will be stored in the FAAC Withheld Escrow Account, until the transaction may be complete. E.g., where the CBN holds the wrong details of the beneficiary of a State ISPO.