News
FG, States, LGs receive N725.5bn revenue in March
The Federation Accounts Allocation Committee (FAAC) says it has shared a total of N725.5 billion as Federation Account revenue for March to the Federal Government, states, and local government areas.
FAAC, in a communique issued at the end of its virtual meeting for April held on Wednesday, explained that the N725.571 billion total distributable revenue comprised distributable statutory revenue of N521.169 billion and the distributable Value Added Tax (VAT) revenue of N204.402 billion.
In March 2022, the total deductions for the cost of collection were N44.411 billion, and the total deductions for statutory transfers, refunds, and savings were N382. 826 billion. The balance in the Excess Crude Account (ECA) was $35.372 million.
The communique also confirmed that from the total distributable revenue of N725.571 billion, the Federal Government received N277.104 billion, the State Governments received N227.201 billion and the Local Government Councils received N167.910 billion.
A total of N53.356 billion was shared with the relevant States as 13 per cent derivation revenue.
Gross statutory revenue of N933.304 billion was received for the month which was higher than the N429.681 billion received in the previous month by N503.623 billion.
The sum of N35.631 billion cost of collection and N376.504 billion being amount for transfers, refunds, and savings were deducted from the N933.304 billion gross statutory revenue, resulting in the distributable statutory revenue of N521.169 billion.
From the N521.169 billion distributable statutory revenue, the Federal Government received N246.444 billion, the State Governments received N125.000 billion and the Local Government Councils received N96.369 billion.
The sum of N53.356 billion was shared to the relevant states as 13 per cent derivation revenue.
In the month of March 2022, the gross revenue available from the Value Added Tax (VAT) was N219.504 billion.
This was higher than the N177.873 billion available in the month of February 2022 by N41.631 billion.
The sum of N6.322 billion allocation to NEDC and N8.780 billion cost of the collection were deducted from the N219.504 billion gross Value Added Tax (VAT) revenue, resulting in the distributable Value Added Tax (VAT) revenue of N204.402 billion.
From the N204.402 billion distributable Value Added Tax (VAT) revenue, the Federal Government received N30.660 billion, the State Governments received N102.201 billion and the Local Government Councils received N71.541 billion.
According to the communique, in the month of March 2022, Petroleum Profit Tax (PPT), Oil and Gas Royalties, Import and Excise Duties, Companies Income Tax (CIT), and Value Added Tax (VAT) all recorded tremendous increases.
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Oseni Donates N10m to Support Ibadan’s Mogaji Ile Eke Project
The Chairman, House Committee on Federal Roads Maintenance Agency (FERMA), Engr. Aderemi Oseni has made a donation of ten million naira (N10m) towards the Mogajis’ Ile Eke project in Ibadan.
Oseni, who also represents Ibarapa East/Ido Federal Constituency of Oyo State, said the donation is aimed at supporting the Mogajis assembly’s project that holds immense cultural significance for the wider Ibadan community.
According to him, the project will remain a testament to the cultural and historical legacy of Ibadanland as it is expected to preserve the historic relevance of the palace while enhancing its role as a cultural landmark.
In a statement released on Saturday by his media aide, Idowu Ayodele, and made available to newsmen in Ibadan, the lawmaker emphasised the importance of preserving cultural heritage and fostering unity within traditional institutions.
He highlighted that the project would not only elevate the status of the Mogajis’ assembly but also serve as a central hub for promoting Ibadan’s rich cultural history.
“It is a privilege that I was called to be part of the project. If I fail to support it, the project will still be successful, but I believe I have to contribute. My life is dedicated to serving God Almighty, the people, and humanity,” Oseni said.
He further stated, “As a son of the soil, it is my responsibility to contribute to the growth of our shared heritage – Ibadan and by extension, Oyo state as a whole. The Mogajis’ Ile Eke project symbolises our collective identity and unity as a people. This donation is my modest contribution towards ensuring that future generations can connect with their roots.”
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Lead City Varsity Hosts Conference on Leadership, Personality Development
Dr. Ayobami Owolabi, President of the Institute of Personality Development & Customer Relationship Management (IPDCRM), has announced the 2024 Corporate Charisma Conference and Awards, set to take place at Lead City University, Ibadan.
Themed “Investment in Leadership Education and Personality Development: A Valuable Asset, Timely Rescue Anchor, in a Depressed Economy,” the conference will bring together some of Nigeria’s and the world’s leading voices in leadership, innovation, and policy to address economic challenges through strategic development.
Inspiring Leadership for Economic Resurgence
As Nigeria faces the ongoing complexities of a depressed economy, the 2024 Corporate Charisma Conference will serve as a transformative event. It will convene policymakers, corporate executives, innovators, and thought leaders to explore the powerful role of leadership education and personality development in driving economic recovery.
The programme includes keynote speakers, prominent presenters, and thought-provoking discussions, all aimed at using human capital to foster productivity, sustainable growth, and innovation.
Corporate Charisma Awards: Honouring Organizational Excellence
A key highlight of the conference will be the Corporate Charisma Awards (CCA), designed to celebrate organisations that excel in sustainable development. Recognising businesses with a strategic vision for customer loyalty, innovation, and growth, IPDCRM’s awards programme evaluates nominees through its Organisational Performance Profile (OPP) and Grand Analytics Method (GAM), a rigorous data-driven model.
These awards aim to establish a prestigious “C500” list, a “Fortune 500” of Nigeria, celebrating organisations that inspire national pride, community recognition, and economic impact. Among this year’s honorees are The Redeemed Christian Church of God (RCCG) and Bellagio Airlines, recognised for their people-centered and impactful business models.
Induction Ceremony for New Members
The 2024 conference will also feature an induction ceremony for new IPDCRM members, each of whom has demonstrated excellence in personality development, customer relationship management, and leadership education. This cohort will join a growing network of professionals dedicated to fostering economic resilience and promoting growth through transformative leadership.
Collaborations, Networking, and Youth Empowerment
Beyond its awards and induction, the event will serve as a hub for strategic collaborations across industries, reinforcing the value of leadership education in economic resilience. A focus on youth empowerment will take center stage, with panel discussions dedicated to equipping the next generation with the leadership skills essential for navigating today’s economic challenges. The conference aims to emphasise the long-term return on investment in leadership education—not only for individuals but for corporate entities and national growth.
Exhibition of Leadership Innovation
An exhibition at the event will showcase the latest in leadership training and personality development tools, offering participants insight into innovative strategies for strengthening both individual and organisational resilience in the face of economic uncertainty.
A Call to Action for Economic Recovery
The 2024 Corporate Charisma Conference serves as a call to action, urging leaders across sectors to recognise leadership education and personality development as vital assets for economic revitalization. Dr. Ayobami Owolabi emphasises that IPDCRM is committed to fostering a new generation of visionary leaders equipped to drive Nigeria forward.
For more information or to register, contact:
Dr. Ayobami Owolabi, FPD-CR
President, IPDCRM
Tel: 08033237874
Email: ayowolabi2002@yahoo.co.uk
News
NIS Arrests Bobrisky at Seme Border Amid Ongoing Investigations
The Nigeria Immigration Service (NIS) has confirmed the arrest of controversial crossdresser and social media personality, Idris Okuneye, popularly known as Bobrisky, at the Seme Border. The arrest took place on Monday as the celebrity was reportedly attempting to flee the country.
In a statement issued Monday night, NIS spokesman DCI KT Udo revealed that Bobrisky had become a person of interest following a series of public controversies.
Udo noted that the arrest was part of the Service’s broader effort to maintain order and integrity at Nigeria’s borders.
“He is undergoing interrogation and will be handed over to the appropriate authorities for further action,” Udo said. He further reassured the public that the Service would remain civil and professional in carrying out its duties.
Bobrisky’s arrest comes amid serious allegations that have swirled around him in recent months.
Blogger Martins Otse, known as VeryDarkMan, had previously accused Bobrisky of bribing officers of the Economic and Financial Crimes Commission (EFCC) with ₦15 million to drop money laundering charges against him during an incident in April, where Bobrisky was seen spraying large sums of naira at a public event.
Following that event, Bobrisky was sentenced to six months imprisonment by a court, with the sentence being carried out earlier this year. He was released in August, but new controversies emerged as the blogger claimed that Bobrisky had paid millions of naira to secure special privileges while serving time in prison.
The allegations triggered widespread concern, prompting investigations by both the EFCC and the Nigerian Correctional Service (NCoS). The House of Representatives also initiated a probe into the matter, and the Federal Government suspended several senior NCoS officials pending the outcome of investigations.
On September 30, 2024, the Minister of Interior, Olubunmi Tunji-Ojo, inaugurated a special committee to look into the allegations of gross misconduct within the NCoS. The committee submitted its report on Monday, confirming that while Bobrisky served his jail term, he was afforded preferential treatment, including access to television and a fridge.
The full extent of Bobrisky’s legal challenges remains unclear as the investigation continues, with authorities now working to determine the next steps in the case.
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