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Tag: August

  • FAAC: FG, states, LGCs share N1.1trn for August

    FAAC: FG, states, LGCs share N1.1trn for August

    The Federation Account Allocation Committee (FAAC), has shared the sum of N1.1 trillion to the Federal Government, states and Local Government Councils (LGCs) for August.

    This is contained in a communiqué issued by the FAAC at its September meeting.

    The communiqué said that the N1.1 trillion total distributable revenue comprised statutory revenue of N357.398 billion, Value Added Tax (VAT) revenue of N 321.941 billion and Electronic Money Transfer Levy (EMTL) revenue of N14.102 billion.

    It also comprised Exchange Difference revenue of N229.568 billion and Augmentation of N177.092 billion.

    The communiqué said total revenue of N1.48 trillion billion was available in the month of August 2023.

    “Total deductions for cost of collection was N58.755 billion, total transfers and refunds was N254.046 billion and savings was N71 billion.

    “Gross statutory revenue of N 891.934 billion was received for the month of August 2023. This was lower than the N1.1 trillion received in the month of July by N258.49 billion.

    “The gross revenue available from VAT was N345.727 billion. This was higher than the N298.78 billion available in the month of July by N46.938 billion,’’ it said.

    It said that from the N1.1 trillion total distributable revenue, the Federal Government received N431.245 billion, the state governments received N361.188 billion and the LGCs received N266.538 billion.

    “A total sum of N26.473 billion, (13 per cent of mineral revenue) and N14.657 billion (13 per cent of savings from NNPCL), were shared to the relevant states as derivation revenue.

    “From the N357.398 billion distributable statutory revenue, the Federal Government received N173.102 billion, the state governments received N87.800 billion and the LGCs received N67.690 billion.

    :The Federal Government received N48.291 billion, the state governments received N160.971 billion and the LGCs received N112.679 billion from the N321.941 billion distributable VAT revenue,” it said.

    The communiqué said the N14.102 billion EMTL was shared among the three tiers of government.

    “The Federal Government received N2.115 billion, the state governments received N7.051 billion and the LGCs received N4.936 billion.

    “The Federal Government received N114.445 billion from the N229.568 billion Exchange Difference revenue.

    “The state governments received N58.048 billion, and the LGCs received N44.752 billion.

    “The sum of N12.027 billion (13 per cent of mineral revenue) and N0.296 billion (13 per cent of savings from NNPCL) went to the relevant states as derivation revenue,’’ it said.

    It said that from the N177.092 billion augmentation, the Federal Government received N93.292 billion, the state governments received N47.319 billion and the LGCs received N36.481 billion.

    “In the month of August, VAT, Import and Excise Duties and EMTL increased considerably while Petroleum Profit Tax (PPT), Companies Income Tax (CIT), Oil and Gas Royalties recorded significant decreases.

    “The balance in the Excess Crude Account (ECA) was 473.75 million dollars.

  • FG, States, LGs share N696.965bn revenue for August

    FG, States, LGs share N696.965bn revenue for August

    The Federation Accounts Allocation Committee (FAAC) has shared a total of N696.965 billion as federation allocation for the month of August.

    Oshundun Olajide, a Deputy Director of Information at the Office of Accountant General of the Federation (OAGF), disclosed this in a statement on Thursday.

    This comes as the nation records a significant increase in the collection of Value Added Tax (VAT) and import duty, amid the lingering controversy over whose responsibility it is to collect VAT.

    A series of court cases and rulings emerged recently as the Rivers State government, backed by Lagos and some other states, challenge the legality of the Federal Inland Revenue Service (FIRS) to collect VAT.

    Olajide stated that FAAC held a virtual conference on Wednesday where it shared the sum to the three tiers of government.

    “From this amount, inclusive of Value Added Tax (VAT), Exchange Gain, Excess Bank Charges and Revenue from non-oil, the Federal Government received N289.257 billion, the states received N217.183 billion, the local government councils got N161.541 billion, while the oil-producing states received N41.376 billion as derivation (13 per cent of mineral revenue),” the statement read.

    The communique issued at the end of the meeting indicated that the gross revenue available from the Value Added Tax (VAT) for August was N166.228 billion.

    According to it, the Federal Government got N24.934 billion of the revenue generated from VAT, while the states and local government councils (LGCs) received N83.114 billion and N58.180 billion respectively.

    “The sum of N50 billion from non-oil revenue was equally distributed accordingly to the three tiers of government as follow – the Federal Government received N26.340 billion; the states got N13.360 while the LGCs received N10.3 billion.

    “The distributed statutory revenue of N477.504 billion was received for the month from which the Federal Government received N236.437 billion, states got N119.924 billion, LGCs got N92.4456 billion, and derivation (13 per cent mineral revenue) got N28.687 billion,” the statement added.

    It revealed that Companies Income Tax (CIT), Petroleum Profit Tax (PPT), oil and gas royalties, and excise duty recorded decreases, while import duty and VAT increased significantly.

    The communique indicated that total revenue distributable for the month included gross statutory revenue of N477.504 billion, VAT of N166.228 billion, exchange gain of N2.830 billion, excess bank charges recovered of N0.403 billion, and N50 billion from non-oil revenue.

    This brings the total distributable revenue to N696.965 billion for the month of August.

  • Alarming: ‘Gunmen, kidnappers killed 612 victims in August’

    Alarming: ‘Gunmen, kidnappers killed 612 victims in August’

    Nigeria recorded no fewer than 612 deaths across 103 local government areas in 29 states in August, a security report has revealed.

    The victims were reportedly killed by gunmen and kidnappers in various armed attacks, violent crimes and bomb attacks in Borno, Yobe, Kwara, Niger, Kogi, Plateau, Nasarawa, Federal Capital Territory, Benue, Sokoto, Zamfara, Kaduna, Rivers, Delta, Ebonyi, Imo, Osun, Ondo and other states.

    The report was released in Abuja on Saturday by Beacon Consulting, a Nigerian security consulting firm offering bespoke security advisory services, risk management, and resilience solutions.

    The firm explained that the August figure represented a marked reduction in the number of fatalities since the June figure (1,032), the highest for the year.

    The report presented by the Managing Director of Beacon Consulting, Kabir Adamu, read, “In August 2021, we recorded a diverse range of security incidents and a total of 612 fatalities in 29 states across 103 LGAs. The August figure of 612 represents another marked reduction in the number of fatalities since the highest for the year, 1032, in June 2021.

    “The thematic indications of the incidents that resulted in these fatalities include armed attacks and a continuation of the trend of several non-state actors successfully challenging the state’s monopoly of the use of force.

    “Findings suggest that for the reporting period, 76 per cent of kidnappings in schools happened in 2021 while 48 per cent of all abductions during these events also took place in 2021. Overall, 88 per cent of these events happened in northern Nigeria.

    “The region has been afflicted by conflict fueled by clashes over access to land and resources, among other factors. At least seven states in northern Nigeria have shut schools due to the rise in abductions and banditry in 2021,” the report noted.

    It further observed that August saw an increase in inter-community violence in Plateau State in spite of the ongoing security forces action to contain the cycle of targeted attacks and reprisals in Mangu, Riyom, Bokkos, Bassa, Barkin Ladi, Jos North, and Jos South.

    Beacon Consulting submitted that the cycle of conflict in Plateau as well as several other parts of the North- Central was driven by socio-economic and identity issues vis-à-vis the political dynamics of the states.

    While the North-East region recorded 70 deaths in six LGAs in two states, the North-West had 249 fatalities and 309 abducted persons, which occured in 26 LGAs in five states.

    The North-Central suffered 131 fatalities while 55 persons were abducted in 23 LGAs across seven states but the South-South region reported 32 deaths and six kidnapped victims in 14 LGAs in six states during the period.

    In the South-West, the report said 47 fatalities and eight kidnap incidents were recorded across 22 LGAs in five states, adding that political violence, criminality, including attacks on financial institutions and kidnap- for- ransom as well as the self-determination debate dominated developments during the reporting period.

    It added, “We recorded 83 fatalities and five kidnap incidents in 12 LGAs in four states in the South-East region as a result of the ongoing activities of the outlawed Indigenous Peoples of Biafra and its armed wing, the Eastern Security Network, farmer versus herder conflicts, as well as the security forces operation in the region against the activities of these and other non-state actors.

    “It is assessed as credible that security forces’ operations in the South-East have intensified and reduced non-state actors’ freedom to operate. It is further assessed as credible that the likelihood for resumption of the activities of these non-state actors is high in the short and medium terms as the conflict dynamics in the region such as clashes between farmers and herders as well as between IPOB or ESN and the security forces are yet to be permanently resolved.”

    The security firm contended that attempts by non-state actors to challenge the supremacy of the use of force by the state through attacks on rural communities, mass abduction, and illegal checkpoints on travel routes in the North East, North Central, and North-West regions and attacks on security forces formations in the South-East would continue unless the Federal and state governments collaborate to enhance the administration of criminal justice in restoring social order and by addressing the root causes of these challenges.

    It also stressed the need for the Federal and state governments to collaborate in dominating the forested and other ungoverned spaces, which the bandits use as safe havens and to keep their victims.

    The report forecast that criminal activities including kidnapping, violent and petty crimes as well as home invasions are likely to continue in the short and medium terms due to the deteriorating economic situation in the country. ,,

  • Governors speak on receiving fresh N243.8bn Paris Club refund from FG in August

    Governors speak on receiving fresh N243.8bn Paris Club refund from FG in August

    The Nigeria Governors’ Forum (NGF) has denied alleged disbursement of N243.8 billion from the Paris Club refunds to states in the month of August.

    The NGF Secretariat disclosed this in a statement issued by its Head, Media and Public Affairs, Abdulrazaque Bello-Barkindo, on Friday in Abuja.

    Bello-Barkindo described the allegation as a big lie and a figment of the imagination of its author.

    He said that the announcement making the rounds that a disbursement of N243.8 billion to states in the month of August came to the attention of the forum as a surprise.

    “The NGF wishes to state categorically that nothing can be farther from the truth as this disbursement did not happen and could not have happened as there are no further possibilities, that they can happen now, or in the future.

    “The lie is further accentuated by the fact that the announcer has remained anonymous and to all intents and purposes, faceless.

    “If it were true and the announcer sure of his facts, he would have owned the announcement in case anyone wanted to verify the information. But alas! “The faceless announcer of the fake disbursement, is apparently, completely oblivious of, or even clueless, about how the Paris Club refunds came about.

    “This ignorance is either a sincere lack of knowledge of the process, or a deliberate effort to cause confusion in the land,” Bello-Barkindo said.

    He added that the Paris Club is not a reserve institution from which the Federal Government could dip its hands and share monies to States.

    He said it was a cumulative over-payment of debts by States, which has been refunded.

    Bello-Barkindo called on the announcer of the rumour to desist from spreading malicious, mischievous and false information to the Nigerian public, especially where it involves money.

    He said that such act could undermine the nation’s stability, especially at this inauspicious time when Nigeria’s finances are lean and security temperament fragile.

    “There are myriads of ways to encourage the population to call their leadership to account but stoking the embers of discord by dishing out false information is doing the states, the governors and the citizens, as a whole, a disservice or even a calamity that no responsible citizen invites on his people.”

  • AFCON 2022: Super Eagles to know group opponents August

    AFCON 2022: Super Eagles to know group opponents August

    The Super Eagles of Nigeria will know their group opponents for the 2021 Africa Cup of Nations in August.
    Confederation of African Football Federation president, Patrice Motsepe has also confirmed that the competition will be hosted by Cameroon.

    Motsepe’s announcement also put to bed months of speculation over the future of the 2021 competition.

    “Very good meetings have been taking place between CAF and the government and local organisers in Cameroon and I have no doubt in my mind that we will host a very successful Africa Cup of Nations in Cameroon,” said Motsepe.

    “I have three plans. Plan A is the AFCON next year in Cameroon. Plan B is the AFCON next January in Cameroon and plan three is that we are going to host something that should make all of us proud.”

    “There is work ongoing to make sure that it will be world-class quality. Yes, there are discussion and ongoing progress and an ongoing commitment that AFCON next year is going to be very good.”

    The tournament is scheduled to be played from January 9 to 6 February, 2022.

    CAF had to postpone the finals twice because of the global health crisis.

    The Super Eagles finished in third position at the 2019 Africa Cup of Nations in Egypt.

  • FAAC: FG, States, LGs Share N770.8bn for August

    From Jonas Ike, Abuja

    The Federal Account Allocation Committee (FAAC) on Thursday in Abuja at its meeting, shared to the Federal Government, States and Local Government Councils a sum total of N740.880 billion as federal allocation for the month of August 2019.

    From this amount, the Federal Government received N301.804 billion, representing 52.68 per cent, the States received N188.925 billion representing 26.72 per cent and Local government councils got N142.654 billion, representing 20.60 per cent, while the oil producing states received N43.513 billion as 13 per cent derivation revenue.

    However, cost of collection/Transfers/ FIRS, refund was N43.984 billion.

    A communiqué issued by the FAAC indicated that the Gross Revenue available from the Value Added Tax (VAT) for August 2019 was N88.082 billion as against the N94.159 billion distributed in the previous month of July, 2019, resulting in a decrease of N6.077 billion.

    The distributed Statutory Revenue of N631.796 billion received for the month of August was lower than the N674.365 billion received in the previous month by N42.569 billion.

    The communiqué further disclosed that, revenues from Petroleum Profit Tax (PPT) and Companies Income Tax (CIT) increased considerably, while Value Added Tax (VAT), Royalties, Import and Excise duties recorded decreases.

    However, additional N20 billion from the Forex Equalization Account shall be shared accordingly among the three tiers of government, which brings the total distributable revenue to N740.880 billion.

    Furthermore, the committee stated that as at August 19th, 2019, the Excess Crude Account (ECA) is $328.122m.

  • 2019: INEC may suspend Continuous Voter Registration in August

    Indications emerged on Thursday that the Independent National Electoral Commission (INEC) may suspend the ongoing nationwide Continuous Voter Registration (CVR) in August.

    The hint emerged during INEC quarterly consultative meeting with the media on Thursday in Abuja.

    INEC at the meeting stated that it needed to suspend the exercise in good time in order to complete the procedures required for data processing, production and distribution of the Permanent Voter Cards (PVCs) ahead of 2019 general elections.

    The Electoral Act 2010 (as amended) states that “the registration of voters, updating and revision of register voters under this section shall stop not later than 60 days before any election covered by this Act’’.

    INEC Chairman, Prof. Mahmood Yakubu, speaking at the meeting, said from previous experience, the timeline required from the close of registration to the point of production and issuance of PVCs to prospective voters was about 120 days.”

    “This time span is required for the purpose of claims and objections and other backed activities including running the Business Rules and Automated Fingers Identification System (AFIS).”

    “Another 30 days is required from the date of PVC production to the point of issuance to registered voters for the purpose of quality assurance, packaging and movement from the Central Store to the respective state and Local Government Area offices.’’

    Yakubu also disclosed that the commission had ended CVR in Ekiti and Osun states ahead of 2019 general election.

    He said that the commission had already concluded the exercise at ward level in the two states where governorship elections will be conducted in July and September respectively.

    Yakubu also said that the commission would give the needed attention to collection of PVCs to ensure that the prospective owners of uncollected cards did so ahead of 2019.

    Clarifying the commission’s decision to enhance Smart Card Readers (SCRs) ahead of 2019 general election, Yakubu said it was to improve the functionality of the existing SCRs, adding that it was not to buy new ones.

    Meanwhile, the media executives in a communiqué resolved that the Commission should ensure that all qualified Nigerians were registered.

    The communiqué was jointly signed by Austin Maho, Editor Nigeria Pilot; Gbenga Aruleba, Head Reportorial, African Independent Television; for the media and Malam Mohamed Haruna, INEC National Commissioner.

    The media executives, however, urged INEC to take cognisance of the time required for the processing of the data as well as the production and collection of the PVCs.

    They suggested that the registration should terminate in the middle of August 2018, while also calling on INEC to educate Nigerians accordingly.

    On PVC Collection the media executives expressed concern over the high level of uncollected PVCs nationwide and advised that INEC devise innovative ways to ensure that more Nigerians collect their PVCs.

    The media called on Nigerians to come out to collect their PVCs as a matter of urgency. While is resolved to assist INEC with ideas to sensitise Nigerians on the need to collect their PVCs.

    Other presentations at the meeting included INEC’s preparations for the Ekiti governorship election, the collection of PVCs.

    There was also a demonstration of the sample ballot paper for the 2019 general elections designed to accommodate the large number of registered political parties that may participate.

    The meeting also had a preview of the Polling Unit Result Display Form (Form ECGOE) and the specimen ballot paper to be used for the Ekiti Governorship Election.

  • Photo: Facebook founder, Mark Zuckerberg, wife welcome second child

    The Chief Executive Officer and founder of Facebook founder, Mark Zuckerberg announced on Monday that his wife, Priscilla Chan, announced the birth of their second child, a baby girl named August.

    Mark Zuckerberg expressed his happiness on his Facebook page.

    Facebook founder and CEO Mark Zuckerberg announced on Monday that his wife, Priscilla Chan, has given birth to their second child, a baby girl named August.

    Mark Zuckerberg expressed his happiness on his Facebook page in a letter he wrote to the new baby.

    Dear August,

    Welcome to the world! Your mom and I are so excited to see who you will become.

    When your sister was born, we wrote a letter about the world we hoped she and now you will grow up in — a world with better education, fewer diseases, stronger communities, and greater equality.

    We wrote that with all the advances in science and technology, your generation should live dramatically better lives than ours, and we have a responsibility to do our part to make that happen. Even though headlines often focus on what’s wrong, we still believe these positive trends will win out. We’re optimists about your generation and the future.

    But rather than write about growing up, we want to talk about childhood. The world can be a serious place. That’s why it’s important to make time to go outside and play.

    You will be busy when you’re older, so I hope you take time to smell all the flowers and put all the leaves you want in your bucket now.

    I hope you read your favorite Dr. Seuss books so many times you start inventing your own stories about the Vipper of Vipp. I hope you ride the carousel with Max until you’ve tamed every color horse. I hope you run as many laps around our living room and yard as you want. And then I hope you take a lot of naps. I hope you’re a great sleeper. And I hope even in your dreams you can feel how much we love you.

    Childhood is magical. You only get to be a child once, so don’t spend it worrying too much about the future. You’ve got us for that, and we’ll do everything we possibly can to make sure the world is a better place for you and all children in your generation.

     

    August, we love you so much and we’re so excited to go on this adventure with you. We wish you a life of joy, love and the same hope you give us.

    Love,

    Mom and Dad ”

     

    TheNewsGuru.com reports that the couple had, four months ago, disclosed that they would be having a new addition.

    Last week, Zuckerberg also announced that he would be taking time off work to attend to family matters.

    Mark and Priscilla had their first child about two years ago.

     

     

  • FG allots N738.14m in August savings bond sales

    FG allots N738.14m in August savings bond sales

    The Federal Government allotted N738.14m in its August 2019 and 2020 savings bond sales.

    The Debt Management Office on its website on Wednesday said that N215.64m was allotted at 13.53 per cent with 328 successful subscriptions to mature in August 2019.

    It stated that N522.50m was allotted at 14.53 per cent with 433 successful subscriptions to mature in August 2020.

    The savings bond issuance is expected to help finance the nation’s budget deficit.

    The bond issuance is part of the Federal Government’s programme targeted at the lower income earners to encourage savings and also earn more income (interest), compared to their savings accounts with banks.

    The bonds are debt securities (liabilities) of the Federal Government backed by its ‘full faith and credit’.

    Interests are to be paid at regular periods and principal repaid at maturity.

    The bonds have a tenure of between two to three years and a minimum size of investment of N5,000 and maximum of N50m.

    The bond is aimed at deepening national savings culture, diversifying funding sources for the government and providing an opportunity to all citizens, irrespective of income level to contribute to national development.

    It will also enable all citizens to participate in and benefit from the favourable returns available in the capital market.

    According to the DMO, the next offer will open on Sept. 11 and close on Sept. 15.

  • 540 Nigerians to be deported from Libya Aug. 10 – NAPTIP DG

    Five hundred and forty Nigerians are set for deportation from Libya, beginning from Aug. 10, Julie Okah-Donli, Director-General, National Agency for Prohibition of Trafficking in Persons(NAPTIP), has said.

    Mrs. Okah-Donli disclosed this on Wednesday in Osogbo, at the inauguration of the North-West Zonal Command Office of the agency.

    She said the deportees would be brought back to Nigeria in three batches of 180 each.

    The NAPTIP boss said more than 2,000 Nigerians were deported from various parts of the world from February till date, over various migration offences, including human trafficking.

    Mrs. Okah-Doni disclosed that the agency had rescued and supported more than 12,000 victims of human trafficking, and also secured 325 convictions since its inception in 2003.

    She decried the rising trend of deportation of Nigerians from different parts of the world, especially in Africa, and described the situation as “frightening”.

    “Such massive deportations are not good for us as a people. Government at all levels must take steps to halt it by initiating measures that will reduce the vulnerability of our people to being trafficked.

    “We must also strive to enlighten our people to resist the temptation to leave the country at all cost,” she said.

    Mrs. Okah-Donli, who described human trafficking as a modern day slavery, urged stern measures to end it.

    She reaffirmed NAPTIP’s commitment to implementing the Trafficking in Persons(Prohibition) Enforcement and Administration Act of 2015, and declared that there would be no sacred cows.

    Mrs. Okah-Donli identified Osun, Ekiti and Ondo among the endemic states in trafficking in persons in Nigeria, saying all hands must be on deck to change the trend.

    “Nigeria is a source, transit and destination country. Women and young girls are recruited for sexual and labour exploitation in parts of Europe, the Middle East and even within the African continent.

    “This calls for concerted action by all as Nigerians cannot make meaningful progress in its human capital development index, with a sustained depletion of her young and brightest stars.”

    Gov. Rauf Aregbesola, who was represented by his Special Adviser on Security Matters, Tope Adejumo, promised that the state government would collaborate with the agency to minimise human trafficking.

    In his remarks, a former governor of the state, Olagunsoye Oyinlola, who is also the royal ambassador of the agency, said he was ready to support the agency in its war against human trafficking.

    Mr. Oyinlola urged the agency to take the campaign against human trafficking to the grassroots, using the native language as a means of communication.

     

     

     

    NAN