Connect with us

News

FG, States, LG’s Received N716.2bn In December 2019

Published

on

The Federation Accounts Allocation Committee (FAAC) has shared a sum total of N716.298 billion to the Federal Government, States and Local Government Councils for December 2019.

The Deputy Director, Press and Public Relations, Henshaw Ogubike, in a statement  said the total sum comprised revenue from Value Added Tax (VAT), Exchange Gain and the Statutory Revenue.

Henshaw stated that from the total revenue, the Federal Government received N287.929 billion, the State Governments received N191.302 billion, and the Local Government Councils received N143.698 billion.

Oil Producing States received N50.279 billion as 13 percent derivation revenue and the Revenue Generating Agencies received N43.089 billion as the cost of revenue collection.

The statement reads, “A breakdown of the distribution showed that from the gross statutory revenue of N600.314 billion, the Federal Government received N271.361 billion, the State Governments received N137.638 billion, the Local Government Councils received N106.113 billion, the Oil Producing States received N50.149 billion as 13% derivation revenue and the Revenue Collecting Agencies received N35.053 billion as cost of collection.

“From the Value Added Tax (VAT) revenue of N114.806, the Federal Government received N16.015 billion, the State Governments received N53.386 billion, the Local Government Councils received N37.369 billion and the Revenue Generating Agencies received N8.036 billion as cost of revenue collection.”

ALSO READ  Famed  Tax Consultant, Akinyele Oladeji Announces Demise Of Mother

It added that in December 2019, there were significant increases in revenues from Companies Income Tax (CIT), Value Added Tax (VAT) Oil and Gas Royalties and Petroleum Profit Tax (PPT), while import duty increased marginally.

Meanwhile, as of January 15, 2020, the balance in the Excess Crude Account (ECA) was $324.968 million.

 

Comments

News

Kogi Assembly Urges EFCC to Remove ‘Wanted’ Tag on Ex- Gov. Yahaya Bello

Published

on

By

In a recent session of the Kogi State House of Assembly, members passed a resolution urging the Economic and Financial Crimes Commission (EFCC) to remove the ‘wanted’ tag placed on the immediate past Governor of the state, Yahaya Bello.

The resolution was reached during plenary on Tuesday, following a presentation by Jibrin Abu, the representative of Ajaokuta State Constituency.

Abu brought forth a motion titled, ‘A call to end all false, frivolous, fictitious, and far from the truth smear campaign against the former Governor of Kogi State, Alhaji Yahaya Bello.’

Abu alleged that the anti-graft agency had been engaging in a witch-hunt against Bello, stating, “Kogi State, by allocation standard, is not rich so much so that N80.4b will be missing that the State will not be shaken to its foundation. This claim by the EFCC should be sanctioned and taken as laughable. Innocent Nigerians and Kogi State citizens that bought into the lies should by their personal volition withdraw their support.”

Former Deputy Speaker of the House, Enema Paul, echoed Abu’s sentiments, urging the EFCC to uphold the rule of law.

In his ruling, Speaker Aliyu Yusuf emphasized the importance of the EFCC operating within the boundaries of the law.

ALSO READ  Oyo : Lanlehin was imposed on ADC, his selection was undemocratic - Oseni

He stated, “This House is not against the EFCC doing their job but they should do it within the ambit of the law and not in a Gestapo way. The country belongs to all of us, so we must respect the law and work with it.”

 

Continue Reading

News

‘Catch And Kill’ Architect Details Trump-Boosting Scheme

Published

on

By

TOPSHOT – Former US President Donald Trump, with attorney Todd Blanche (L), walks toward the press to speak after attending his trial for allegedly covering up hush money payments linked to extramarital affairs, at Manhattan Criminal Court in New York City on April 23, 2024. (Photo by Yuki Iwamura / POOL / AFP)

In the 1990s, Donald Trump famously gossiped to the tabloids about — who else — himself, a headline-chaser who loved none other than to see his name in lights, or at least in the supermarket checkout line.

 

But those were Trump’s good old days, an era of clubs and models, long before he launched a bid for the US presidency and found himself needing to squash the lewd, party boy stories he once boasted about.

 

Cue David Pecker, the former publishing executive whose titles included the National Enquirer, and who on Tuesday in a Manhattan courtroom laid out the “catch and kill” strategy he carried out in a bid to support Trump’s 2016 presidential campaign.

 

In a then-secret meeting in August 2015, Trump and his former personal lawyer Michael Cohen met with Pecker to ask how he and his publications could “help the campaign,” the 72-year-old witness testified

Trump “dated the most beautiful women,” Pecker explained, “and it was clear that, based on my past experience, that when someone is running for a public office like this, it is very common for these women to call up a magazine like the National Enquirer to try to sell their stories.”

ALSO READ  Why I’m yet to remarry—Tee Mac

‘Fake news’ sells

Speaking under oath, Pecker, who sported a pink tie and slicked back hair, essentially confessed to trafficking so-called “fake news” to both his and Trump’s benefit, while simultaneously paying off several people whose tales had the potential to damage candidate Trump’s reputation.

He said “popular stories about Mr. Trump” as well as “negative stories about his opponents” would “only increase newsstand sales.”

“Publishing these types of stories was also going to benefit his campaign,” Pecker said. “Both parties benefited from it.”

Pecker offered a portal into the editorial practices of outlets like his own, which had no shame in paying for stories and focused far more on the cover than the content.

“We would do a lot of research to determine what… the proper cover of the magazine would be,” Pecker said.

“Every time we did this, Mr. Trump would be the top celebrity,” Pecker said, describing the magnate’s pre-politician days and pointing to his star turn as the top guy on his own reality show “The Apprentice,” and its celebrity-starring sequel.

In recalling Trump’s first campaign era, the prosecution presented bombastic headlines disparaging the Republican’s opponents, such as “Bungling surgeon Ben Carson left sponge in patient’s brain” and “Ted Cruz shamed by porn star.”

ALSO READ  Famed  Tax Consultant, Akinyele Oladeji Announces Demise Of Mother

Pecker said such ideas often came from or were shaped by Cohen, Trump’s then-fixer who is expected to be a star witness in the New York state trial.

But Pecker also said he wanted to keep his “agreement among friends” with Trump and Cohen “as quiet as possible.”

Among the times he said he killed a story regarding Donald Trump, it centered on a Trump Tower doorman who was peddling a false claim that Trump had fathered a child out of wedlock with one of his former employees.

Pecker said he thought it was important to buy the story and keep it quiet for Trump’s benefit — as well as his own.

He said had the story been true, he planned to publish it “after the election.”

“If the story was true, and I published it, it would be probably the biggest sale of the National Enquirer since the death of Elvis Presley.”

 

Continue Reading

News

In 2023, Report Finds 282 Million Faced Acute Hunger

Published

on

By

Pedestrians and vehicles move along a road outside a branch of the Central Bank of Sudan in the country’s eastern city of Gedaref on July 9, 2023. (Photo by – / AFP)

Food insecurity worsened around the world in 2023, with some 282 million people suffering from acute hunger due to conflicts, particularly in Gaza and Sudan, UN agencies and development groups said Wednesday.

Extreme weather events and economic shocks also added to the number of those facing acute food insecurity, which grew by 24 million people compared with 2022, according to the latest global report on food crises from the Food Security Information Network (FSIN).

The report, which called the global outlook “bleak” for this year, is produced for an international alliance bringing together UN agencies, the European Union and governmental and non-governmental bodies.

2023 was the fifth consecutive year of rises in the number of people suffering acute food insecurity — defined as when populations face food deprivation that threatens lives or livelihoods, regardless of the causes or length of time.

Much of last year’s increase was due to report’s expanded geographic coverage, as well as deteriorating conditions in 12 countries.

More geographical areas experienced “new or intensified shocks” while there was a “marked deterioration in key food crisis contexts such as Sudan and the Gaza Strip”, Fleur Wouterse, deputy director of the emergencies office within the UN’s Food and Agricultural Organization (FAO), told AFP.

ALSO READ  Why I’m yet to remarry—Tee Mac

Some 700,000 people, including 600,000 in Gaza, were on the brink of starvation last year, a figure that has since climbed yet higher to 1.1 million in the war-ridden Palestinian territory.

 Children starving

Since the first report by the Global Food Crisis Network covering 2016, the number of food-insecure people has risen from 108 million to 282 million, Wouterse said.

Meanwhile, the share of the population affected within the areas concerned has doubled 11 percent to 22 percent, she added.

Protracted major food crises are ongoing in Afghanistan, the Democratic Republic of Congo, Ethiopia, Nigeria, Syria and Yemen.

“In a world of plenty, children are starving to death,” wrote UN Secretary-General Antonio Guterres in the report’s foreword.

“War, climate chaos and a cost-of-living crisis — combined with inadequate action — mean that almost 300 million people faced acute food crisis in 2023.”

“Funding is not keeping pace with need,” he added.

This is especially true as the costs of distributing aid have risen.

For 2024, progress will depend on the end of hostilities, said Wouterse, who stressed that aid could “rapidly” alleviate the crisis in Gaza or Sudan, for example, once humanitarian access to the areas is possible.

Floods and droughts

Worsening conditions in Haiti were due to political instability and reduced agricultural production, “where in the breadbasket of the Artibonite Valley, armed groups have seized agricultural land and stolen crops”, Wouterse said.

ALSO READ  EFCC, NDLEA consider strategic partnership to combat money laundering, drug abuse

The El Nino weather phenomenon could also lead to severe drought in West and Southern Africa, she added.

According to the report, situations of conflict or insecurity have become the main cause of acute hunger in 20 countries or territories, where 135 million people have suffered.

Extreme climatic events such as floods or droughts were the main cause of acute food insecurity for 72 million people in 18 countries, while economic shocks pushed 75 million people into this situation in 21 countries.

“Decreasing global food prices did not transmit to low-income, import-dependent countries,” said the report.

At the same time, high debt levels “limited government options to mitigate the effects of high prices”.

On a positive note, the situation improved in 17 countries in 2023, including the Democratic Republic of Congo and Ukraine, the report found.

 

Continue Reading
Advertisement

Tweets by ‎@megaiconmagg

Subscribe to our Newsletter

* indicates required

MegaIcon Magazine Facebook Page

Advertisement

MEGAICON TV

Trending