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Alleged Fraud: “Will the masses finally reap the dividends of democracy, particularly at the state and local government levels?” questions arise as N1.1 trillion is shared among tiers of government from Federation Account revenue, yet, analysis suggests otherwise.

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Allocation highest ever
N500b kept in savings
Yusuf: let gains of reform reflect on citizens
It was a huge “payday” for the tiers of government yesterday.
The federal, state and local governments shared a handsome N1.127 trillion from the N1.674 trillion collectable revenue in December 2023.

Over N500 billion was saved to take care of future needs.

It is the second consecutive month that the revenue shared from the central purse crossed the N1 trillion mark.

The first time it did was in September 2023.

From the N655.932 billion shared in May, the month that President Bola Ahmed Tinubu took office and pronounced that the “petrol subsidy is gone,” the revenue has been going up steadily (SEE TABLE).

The staggering figure, made available after the Federation Account Allocation Committee (FAAC) meeting yesterday, is a reflection of the nation’s economic upward movement, analysts said.

According to them, it also presents an opportunity for the government at all levels to ensure growth and development.

Economists last night said with increased revenue, the people should begin to get the dividends of democracy, especially at the state and local governments.

The agreement by FAAC members to allow N500 billion in savings is indicative of financial prudence, a member said.

Breaking down the revenue accruals, according to a statement by the FAAC, Companies Income Tax (CIT), Excise Duty, Petroleum Profit Tax (PPT), Value Added Tax (VAT), and Electronic Money Transfer Levy (EMTL) increased significantly.

But there is a slight decline in oil and gas royalties, import duty and CET levies.

Despite the remarkable revenue gains, the balance in the Excess Crude Account (ECA) remained static at $473,754.57.

The surplus in the federation account serves as a cushion for any unforeseen economic challenges that may arise.

A closer look at the activities surrounding the Federation Account has shown that N875.382 billion was received as gross statutory revenue for December 2023, which was slightly lower than the N882.560 billion received in November.

In terms of the Value Added Tax (VAT), December 2023 saw a significant increase compared to the previous month.

The gross revenue available from VAT stood at N492.506 billion, which is a N132.051 billion increase from November.

This surge in VAT revenue can be attributed to the improvement in economic activities and increased consumer spending during the festive season.

Further analysis of the revenue distribution revealed that the Federal Government got N383.872 billion from the total distributable revenue; states received N396.693 billion and the local government areas received N288.928 billion.

State collecting derivation funds from mineral revenue shared N57.915 billion, representing 13 per cent of the revenue.

Regarding distributable statutory revenue, the Federal Government received N173.729 billion, state governments, N88.118 billion and councils, N67.935 billion from the N363.188 billion generated.

From the distributable VAT revenue of N458.622 billion, the Federal Government received N68.793 billion, state governments received N229.311 billion, and local government councils received N160.518 billion.

The Electronic Money Transfer Levy (EMTL) of N17.855 billion was allocated as follows: the Federal Government received N2.678 billion, states got N8.928 billion and local government councils received N6.249 billion.

However, the stagnant Excess Crude Account raises concern about the need for strategic investment of surplus funds into critical sectors.

The slight decline in statutory revenue and continued dependence on oil and gas require further attention.

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UPDATED: Police Arrest Adeyemi Over Alleged False Claim as PFIPC Director-General in Osun

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Operatives of the Nigeria Police Force Intelligence Response Team (IRT) have arrested Prince Adeniyi Adeyemi, the self-styled Director-General of the controversial Presidential Foreign Intervention Promotion Council (PFIPC), in Osun State.

Adeyemi, who had been the subject of an intensive manhunt by security agencies, was apprehended following intelligence-led operations weeks after investigations into allegations about the purported federal agency’s activities.

According to the Force Public Relations Officer, CSP Anietie Iniedu, the suspect was arrested without incident by a team of IRT operatives and has been moved into police custody for further interrogation.

He confirmed the arrest while speaking to our correspondent in Abuja.

His arrest followed days of coordinated efforts by security operatives, who had earlier raided his family residence while tracking his whereabouts. Reports indicated that investigators questioned his family members during the search for the suspect.

Adeyemi came into national prominence after controversy erupted over the operations of the Presidential Foreign Intervention Promotion Council, an organisation widely described by government officials as having no legal backing or official recognition.

The controversy deepened following allegations that the suspect claimed close links with top government officials and allegedly used the platform to project influence in government circles.

Oyo police rescue abducted farmer after joint security operation
The matter also generated public attention after claims surfaced that huge sums of money were exchanged in connection with promises of government appointments. Those allegations remain under investigation and have not been proven in court.

The Presidency had earlier distanced itself from the activities of the organisation, while the Office of the Chief of Staff to the President, Femi Gbajabiamila, denied any connection with the group or its activities, maintaining that neither the office nor the Presidency authorised the operations of the PFIPC.

Police investigators are expected to interrogate Adeyemi on the circumstances surrounding the establishment and operations of the organisation, the authenticity of documents allegedly used in its activities, and claims that some individuals were deceived into believing it was an official government body.

Investigators are also expected to determine whether other suspects were involved in the alleged scheme and whether additional offences, including impersonation, obtaining by false pretence, forgery and conspiracy, may have been committed.

As of press time, the Nigeria Police Force had yet to issue a detailed official statement on the arrest or announce possible charges against the suspect. Demographics

The arrest is, however, expected to advance investigations into one of the most controversial cases involving the alleged use of a non-existent government agency to project influence within the Presidency.

Adeyemi is expected to remain in police custody pending the conclusion of investigations and possible arraignment before a competent court.

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Breaking : Nigerian Soldiers Kill ISWAP Cameraman, Uncover Foreign Terrorist Network in Borno

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Troops of Operation Hadin Kai have neutralised an Islamic State West Africa Province cameraman and recovered video materials indicating the presence of three foreign facilitators, including a Palestinian Arab identified as a trainer and a Moroccan Arab serving as a medical doctor for the terrorist group in Borno State.

The Acting Military Information Officer, Joint Task Force North East, Operation Hadin Kai, Capt. Muhammed Goni, disclosed this in a statement on Sunday.

According to him, the operational success was recorded on Saturday following a failed infiltration attempt by members of ISWAP terrorists into Cross Kauwa, Kukawa Local Government Area of Borno State.

Goni said the terrorists attempted to exploit the cover of darkness to breach the troops’ position and loot cholera medical supplies.

The statement read, “Troops of 19 Brigade, Sector 3, Joint Task Force North East, Operation HADIN KAI (OPHK), have decisively foiled an attempted infiltration by ISWAP terrorists into Cross Kauwa, Kukawa Local Government Area of Borno State, inflicting heavy casualties on the attackers and forcing them to retreat in disarray.

“The successful defence of the location further demonstrates the vigilance, combat readiness and operational effectiveness of troops who continue to deny terrorist elements freedom of action across the North East Theatre.”

The failed attack, he said, occurred at about 10:20 p.m. on July 11, 2026, when the terrorists attempted to exploit the cover of darkness to breach the troops’ position.

“Alert troops swiftly detected the hostile movement and responded with coordinated and overwhelming firepower, compelling the terrorists to abandon their mission of looting cholera medical supplies and withdraw in confusion after suffering severe losses,” Goni said.

According to him, the attempted looting further lends credence to recent intelligence reports of a cholera outbreak within terrorist enclaves, as well as reports of the execution of some affected members by the group.

“The neutralisation of a terrorist cameraman during the failed assault led to the recovery of a Sony camcorder containing highly sensitive recordings of terrorist activities, including operational footage and propaganda materials.

“Preliminary forensic analysis of the last available video recorded prior to the attack indicates that the operation was coordinated by four senior ISWAP commanders (Qai’ds), alongside three foreign terrorist facilitators. They include a Palestinian Arab identified as Abu Ishaq, assessed to be ISWAP’s overall trainer; a Moroccan Arab identified as Abu Thaiba, a medical doctor serving within the terrorist network; and another Arab operative whose identity is yet to be established,” he added.

He said the presence and active involvement of the foreign nationals further reinforced intelligence assessments that ISWAP continued to benefit from external support, specialist expertise and transnational terrorist linkages.

“Following the successful engagement, troops immediately dominated the area and conducted exploitation operations to ascertain the full extent of the terrorists’ losses,” he added.

The Army spokesman said troops recovered the Sony camcorder, several rounds of PKT and 7.62mm Special ammunition, terrorist uniforms and other combat items during the operation.

He further stated that initial analysis of post-engagement satellite imagery revealed terrorists evacuating the bodies of some of their neutralised fighters during their withdrawal.

“This has since been corroborated by credible human intelligence sources, which confirmed that the terrorists suffered heavy casualties, with many others sustaining gunshot wounds during the engagement,” he said.

According to him, two soldiers sustained gunshot wounds during the firefight and were promptly evacuated by air for advanced medical care, adding that both personnel remained in stable condition.

“The failed infiltration attempt represents yet another significant operational setback for ISWAP and caps a costly weekend for the terrorist group following sustained offensive operations and intensified military pressure across the North East Theatre,” he said.

He added that the outcome underscored the increasing difficulty the terrorists faced in executing coordinated attacks against highly alert and combat-ready troops while further degrading their combat capability, morale and freedom of action.

“Operation HADIN KAI remains resolute in sustaining offensive operations, protecting vulnerable communities and dismantling terrorist networks until lasting peace and security are fully restored across the North East,” he assured.

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BREAKING: Security Forces Rescue Kidnapped Pupils, Teachers in Oyo Forest Operation

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Eight kidnappers arrested

Ibadan, Oyo State – Nigerian security agencies have successfully rescued a group of kidnapped pupils and teachers following a coordinated operation in Orire Local Government Area of Oyo State.

Photos circulating after the operation show the rescued victims gathered in a rural forest location alongside security personnel shortly after they regained their freedom.

According to available information, the victims were abducted by suspected kidnappers before security operatives launched an intensive search-and-rescue mission. The operation, carried out through coordinated efforts by security agencies, led to the safe recovery of the pupils and their teachers.

The rescued victims have since been reunited with security officials and are expected to undergo medical examinations and trauma counselling before being reunited with their families.

Authorities have not yet disclosed whether any arrests were made during the operation or if a ransom was paid. However, investigations are ongoing to identify and apprehend those responsible for the abduction.

The successful rescue has been welcomed by residents of the area, who commended the swift response of the security agencies while calling for increased security around schools and rural communities to prevent similar incidents.

The incident once again highlights the persistent security challenges facing some parts of the country, particularly the threat of school-related kidnappings, which have raised concerns among parents, educators, and community leaders.

Security agencies have assured the public that efforts are continuing to track down the perpetrators and strengthen measures aimed at protecting schools and vulnerable communities across the country.

Further official details are expected as the authorities provide updates on the operation.

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