News
June 2020: FAAC shared N651bn to FG, States, LGAs
The Federation Accounts Allocation Committee (FAAC) has disbursed N651.184 billion to the Federal, States, Local government areas and other relevant agencies as allocation for June 2020
FAAC disclosed this in a statement issued by its Director of Information, Press and Public Relations, Henshaw Ogubike.
The statement added that the decision followed FAAC’s monthly meeting for July 2020 which was held virtually and chaired by the Accountant General of the Federation, Ahmed Idris.
“The gross statutory revenue available in June 2020 was N524.526 billion; the gross revenue from the Value Added Tax (VAT) was N128.826 billion and the revenue from the Exchange Gain was N42.832 billion,” the statement said.
“This brought the total revenue for the month to N696.184 billion. From this total, the sum of N45 billion was saved in the Excess Non-Oil Revenue Account and the balance of N651.184 billion was shared to the three tiers of government and relevant agencies”, the statement reads.
Henshaw Ogubike, in the statement also stressed , “the balance in the Excess Crude Account (ECA) as at 16th July, 2020 was $72.407 million, explaining that the gross statutory revenue of N524.525 billion available in June was higher than the N413.953 billion received in the previous month by N110.573 billion.”
It also added that the gross revenue of N128.826 billion available from the Value Added Tax (VAT) was higher than the N103.873 billion in the previous month by N24.953 billion.
The statement noted that from the total revenue, the Federal Government received N266.131 billion, the State Governments received N185.774 billion, and the Local Government Councils received N138.974 billion.
Continuing, the oil producing states got N28.496 billion as 13% derivation revenue, N76.809 billion was given to revenue / Relevant Agencies as follows:
Cost of collection…..24.047,
Transfer to NEDC…..3.865
PTF….3.897
Transfer to Excess non oil…..45.000
TOTAL……76.809.
It equally said the Federal Government got N227.584 billion from the gross statutory revenue, the State Governments received N115.434 billion and the Local Government Councils had N88.995 billion.
N24.722 billion was given to the relevant States as 13% derivation revenue, also.
The Federal Government got N17.971 billion from the Value Added Tax (VAT) revenue, the State Governments received N59.904 billion, the Local Government Councils had N41.933 billion, and the revenue/ Relevant Agencies received ,5.153 as cost of collection and 3.865 transferred to NEDC , amounting to N9.018 billion, the statement added.
In a related development, FAAC said the Federal Government received N20.576 billion, the State Governments had N10.436 billion, the Local Government Councils got N8.046 billion and the oil producing states received N3.774 billion from the Exchange Gain revenue.
In June 2020, Import and Excise Duty, Value Added Tax, Companies Income Tax, Oil and Gas Royalty reported major rises just as Petroleum Profit Tax declined.
News
NYSC to Increase Corps Members’ Allowance to ₦77,000 Monthly
The management of the National Youth Service Corps (NYSC) has announced that corps members across the country will soon begin receiving ₦77,000 as their monthly allowance.
The Director General of the NYSC, Brigadier General YD Ahmed, disclosed this on Tuesday in Abuja, according to a statement issued by the NYSC spokesperson, Caroline Embu.
General Ahmed emphasized that the welfare of corps members remains a top priority for his administration, noting that arrangements for the payment of the new allowance have been finalized.
The increase in corps members’ allowances is in line with the recent review of Nigeria’s minimum wage from ₦30,000 to ₦70,000, which was signed into law by President Bola Tinubu in July 2024.
This development marks the second major adjustment in corps members’ stipends in recent years. In 2020, the NYSC increased the allowance from ₦19,800 to ₦33,000 following the implementation of the ₦30,000 minimum wage.
The latest increment reflects the government’s commitment to improving the living standards of Nigerian youths serving their country under the NYSC scheme.
President Tinubu’s signing of the new minimum wage bill in July 2024 came after months of negotiations between government authorities, labor unions, and private sector stakeholders. The adjustment aims to address inflationary pressures and improve the economic well-being of workers across the country.
The NYSC has assured corps members of its continued commitment to their welfare and development as they contribute to national unity and service.
News
Unprofessional Conduct: Police Demote Officer, Disband Unit
The Abia State Police Command has demoted a police corporal, Okonkwo Ebuka, to the rank of constable following his involvement in unprofessional conduct and incivility towards members of the public.
The Command’s Public Relations Officer, Maureen Chinaka, confirmed the disciplinary action in a statement released on Tuesday.
According to her, the demotion was the outcome of an administrative proceeding where the officer was tried in an orderly room and found guilty of discreditable and unprofessional behaviour.
“The Commissioner of Police, Abia State Command, CP Danladi Isa, in alignment with the vision of the Inspector General of Police (IGP) to establish a professionally competent, service-driven, rule-of-law-compliant, and people-friendly police force, has disbanded the Command’s Anti-Cultism Unit for unprofessional conduct and incivility towards members of the public,” the statement read.
It further stated that Corporal Okonkwo Ebuka, formerly attached to the Area Command in Aba but deployed on special duty at Isuochi, was demoted as part of efforts to enforce discipline within the Force.
“The Commissioner of Police emphasized the Command’s zero-tolerance policy for any form of unprofessional conduct among officers that could tarnish the good image of the Force,” the statement added.
The Abia State Police Command reiterated its commitment to upholding professionalism and fostering positive engagement with the public in line with the principles of ethical policing.
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Saki Town Mourns as Okere’s Wife, Queen Waliyat, Dies
Queen Waliyat Olabisi, the second wife of the Okere of Sakiland, His Royal Majesty, Oba (Dr.) Khalid Oyeniyi Olabisi Oyedepo III, has passed away.
She died on Tuesday morning, leaving the people of the ancient town in mourning.
As of the time of filing this report, the cause of her death remains unknown. However, her sudden demise has sent shockwaves across the community.
Many indigenes of Saki have taken to social media to express their grief, sharing heartfelt tributes and condolences for the royal family.
The late Queen Waliyat was celebrated for her elegance and impactful contributions to both the palace and the community.
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