Abuja – The Federal Government has raised an emergency security fund of about N500 billion to tackle rising insecurity across the country, following persistent attacks by bandits, kidnappers, and other criminal groups.
The fund was reportedly deducted from the Federation Account Allocation Committee (FAAC) revenue for May 2026 before the monthly sharing of allocations among the three tiers of government.
Sources familiar with the FAAC proceedings disclosed that the deduction formed part of a broader security intervention plan aimed at strengthening military and intelligence operations nationwide.
According to officials, state commissioners of finance were informed of the decision during FAAC deliberations.
Documents obtained from the FAAC meeting indicated that N250 billion was allocated to a Military Intervention Fund, while N252 billion was earmarked for an Infrastructure Development Fund for states.
An additional N450 billion was transferred to the Non-Oil Excess Revenue Account, bringing total major deductions from federation revenues to N952 billion.
The development comes as FAAC announced the distribution of N2.3 trillion to the Federal Government, states, and local government councils from May 2026 revenue.
The distributable amount represented an increase from the N2.26 trillion shared in April.
Government officials said the security fund was necessary in light of ongoing security challenges, including insurgency in the North-East, banditry and mass kidnappings in the North-West, farmer-herder clashes in the North-Central, separatist unrest in the South-East, and oil-related crimes in the Niger Delta.
Economists have largely welcomed the initiative, arguing that improved security is essential for economic growth and investment. However, they urged the government to ensure transparency and accountability in the management of the fund.
Economist Dr. Ayo Teriba said additional resources could help improve troop welfare, procure equipment, and recruit more security personnel, while Prof. Akpan Ekpo stressed that effective use of the fund would be critical to restoring public confidence.
Meanwhile, the Department of State Services (DSS) has opposed proposals allowing foreign organisations to contribute to a planned security trust fund, warning that such funding could expose sensitive intelligence operations to external influence and compromise national security.
The agency instead advocated funding from domestic sources and called for sustainable financing mechanisms to strengthen intelligence gathering and counter-terrorism operations.
The move underscores the Federal Government’s renewed efforts to address worsening insecurity and enhance the capacity of security agencies to respond swiftly to emerging threats across the country.
Bandits’ attacks: FG raises N500bn emergency security fund
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