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FAAC allocates N1.123 trillion to FG, States, LGCs in March 2024 revenue sharing
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2 years agoon
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In the latest disbursement of funds, the Federation Account Allocation Committee (FAAC), has distributed a total of N1.123 trillion March 2024 Federation Account Revenue among the three tiers of government following its April meeting in Abuja.
According to a statement by Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant General of the Federation, several key revenue streams experienced fluctuations.
Import duty, value-added tax (VAT), gas royalty, companies’ income tax (CIT), and others saw notable increases, while excise duty, oil royalty, Petroleum Profit Tax (PPT), Electronic Money Transfer Levy (EMTL), and CET Levies witnessed declines.
The breakdown of the total distributable revenue revealed that N311.233 billion was from distributable statutory revenue, N511.879 billion from distributable VAT revenue, N14.754 billion from EMTL revenue, and N285.525 billion from exchange difference revenue.
With a total revenue of N1.867 trillion available in March 2024, deductions for the cost of collection amounted to N69.537 billion, leaving N674.880 billion for transfers, interventions, and refunds.
March 2024 saw a gross statutory revenue of N1.017 trillion, marking a decrease of N175.212 billion from February 2024. However, VAT revenue experienced an increase, reaching N549.698 billion compared to N460.488 billion in the previous month.
The distribution of the total revenue saw the Federal Government receiving N345.890 billion, state governments N398.689 billion, and local government councils N288.688 billion. Mineral-producing states received an additional N90.124 billion as part of their 13% mineral revenue share.
From the distributable statutory revenue, the Federal Government received N133.960 billion, state governments N67.946 billion, and local government councils N52.384 billion.
Additionally, N56.943 billion was shared with mineral-producing states as derivation revenue.
The breakdown of the distributable VAT revenue showed the Federal Government received N76.782 billion, state governments N255.940 billion, and local government councils N179.158 billion. Meanwhile, EMTL revenue of N14.754 billion was shared, with the Federal Government receiving N2.213 billion, state governments N7.377 billion, and local government councils N5.164 billion.
Also, exchange difference revenue of N285.525 billion was allocated, with the Federal Government receiving N132.935 billion, state governments N67.426 billion, and local government councils N51.983 billion. Mineral-producing states also received N33.181 billion as derivation revenue.
The Excess Crude Account (ECA) currently holds a balance of $473,754.57.
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Kano Assembly Moves to Impeach Deputy Governor Gwarzo Over ₦1.6bn Alleged Fraud
Published
1 day agoon
March 5, 2026By
adminThe Kano State House of Assembly has initiated impeachment proceedings against Deputy Governor Aminu Abdussalam Gwarzo over allegations of gross misconduct, abuse of office, and breach of public trust.
The notice was presented yesterday during plenary by the Majority Leader, Lawan Hussaini Dala, who said the action follows Section 188 of the 1999 Constitution of the Federal Republic of Nigeria.
Dala said the allegations stem from Abdussalam’s tenure as Commissioner for Local Government (2023–2024) and his current role as deputy governor. He accused the deputy governor of diverting funds meant for the 44 local government councils.
According to the majority leader, Abdussalam allegedly received N1.5 million monthly from each council between June 2023 and January 2024, totaling N462 million. Between February and July 2024, he allegedly collected N3.255 million monthly from each council under the guise of special assignments, amounting to N726 million.
Dala also accused the deputy governor of abuse of office, claiming he facilitated payments of N10 million from each council to NovoMed Pharmaceuticals Limited, totaling N440 million, in violation of state procurement laws.
“The misuse of official capacity to confer undue advantage constitutes abuse of power and undermines public trust,” Dala told lawmakers, adding that the allegations amount to gross misconduct under the Constitution.
The impeachment notice was reportedly endorsed by 38 lawmakers, meeting the constitutional threshold to proceed. The Speaker has acknowledged receipt, and the House is expected to serve the allegations on the deputy governor.
If approved, a panel may be constituted by the state Chief Judge to investigate the claims.
As of filing, Abdussalam had yet to respond publicly to the allegations.
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IGP Inaugurates State Police Committee, Gives Four-Week Deadline
Published
2 days agoon
March 4, 2026By
adminThe Inspector-General of Police, Tunji Disu, on Wednesday inaugurated a seven-member committee on the establishment of state police, giving it four weeks to submit its report.
The inauguration was held during his maiden conference with senior police officers at the Peacekeeping Conference Centre, Force Headquarters, Abuja.
Charging members of the panel to discharge their duties with professionalism and objectivity, Disu described the assignment as “both significant and timely,” noting that it would shape the framework through which state policing may operate in Nigeria.
“In carrying out this assignment, your deliberations must be guided by professionalism, objectivity, and a clear appreciation of the unique complexities of policing a diverse nation such as our own,” the IGP said.
He stated that if properly designed and effectively implemented, state policing holds significant potential benefits for the country.
“By bringing law enforcement closer to communities, state police institutions can deepen local knowledge of security dynamics and enable quicker and more targeted responses to emerging threats,” he added.
The committee is expected to review existing policing models within and outside Nigeria, assess community security needs and emerging risks, and propose an operational framework for the establishment and coordination of state police structures.
It will also address issues relating to recruitment, training, standards and resource allocation, as well as develop accountability and oversight mechanisms to ensure professionalism and public trust.
The panel is chaired by Olu Ogunsakin, with Bode Ojajuni as secretary. Other members are Emmanuel Ojukwu, Okebechi Agora, Suleyman Gulma, Ikechukwu Okafor and Tolulope Ipinmisho.
Disu said the committee had about four weeks to conclude its assignment and submit a comprehensive report.
The move marks one of the first major steps taken by the new police chief since his appointment and confirmation a few days ago.
The development comes amid rising security concerns across the country, with several stakeholders advocating state policing as part of measures to tackle insecurity.
President Bola Tinubu had earlier asked the National Assembly to commence the process of amending relevant laws to pave the way for the creation of state police.
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Tinubu swears in Disu as IGP, inaugurates RMAFC, FCSC commissioners
Published
2 days agoon
March 4, 2026By
adminPresident Bola Tinubu on Wednesday swore in Olatunji Disu as the Inspector-General of Police (IGP).
Disu took the oath of office at the Council Chamber of the Presidential Villa, Abuja, shortly before the commencement of the Federal Executive Council (FEC) meeting.
The President also administered the oath of office to six commissioners of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) and two commissioners of the Federal Civil Service Commission (FCSC).
The ceremonies were witnessed by ministers, senior government officials and family members of the appointees.
The council meeting began shortly after the swearing-in.
In attendance were Vice President Kashim Shettima; the Secretary to the Government of the Federation, Senator George Akume; the Chief of Staff to the President, Femi Gbajabiamila; the National Security Adviser (NSA), Nuhu Ribadu; and the Head of the Civil Service of the Federation, Mrs EsthMrs.Walson-Jack.
Disu was appointed acting IGP on February 25, 2026, by President Tinubu, following the resignation of former IGP Kayode Egbetokun.
His appointment was subsequently endorsed by the Nigeria Police Council (NPC).
The former Assistant Inspector-General of Police assumed office last Wednesday.
He previously served as Assistant Inspector-General in charge of the Force Criminal Investigation Department (FCID) Annex, Alagbon, Lagos, after his promotion to the rank last year.
A former head of the Lagos Rapid Response Squad (RRS), Disu has pledged to deliver accountable, modern and professional policing.
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