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Breaking : Federation Accounts Allocation, FG, States and local councils share N1.203tr for August 2024

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The Federation Accounts Allocation Committee (FAAC) has announced the disbursement of N1.203 trillion in revenue for August 2024 to the Federal Government, State Governments, and Local Government Councils.

The announcement was contained in a communiqué after the FAAC’s September 2024 meeting in Abuja.

The total distributable revenue of N1.203 trillion comprises several sources, reflecting the government’s diverse revenue streams.

This amount includes distributable statutory revenue of N186.636 billion, distributable Value Added Tax (VAT) revenue of N533.895 billion, Electronic Money Transfer Levy (EMTL) revenue of N15.017 billion and Exchange Difference revenue of N468.245 billion.

These figures reflect the government’s continued reliance on multiple channels to generate public funds, although some sources showed a decrease from the previous month.

The FAAC communiqué also reported that the total revenue available for distribution in August 2024 was N2.278 trillion.

However, the actual distributable amount was reduced following deductions for cost of collection, which stood at N81.975 billion as well as transfers, interventions, and refunds amounting to N992.617 billion.

These deductions indicate the costs incurred by various government agencies in collecting the revenue as well as amounts transferred for specific interventions or refunds during the month.

FAAC shares N1.143tr among tiers of govt
The gross statutory revenue collected for August 2024 amounted to N1.221 trillion, representing a decrease of N165.994 billion compared to July 2024 when the statutory revenue was N1.387 trillion.

Similarly, the gross revenue from VAT for August was N573.341 billion, down by N51.988 billion from the N625.329 billion recorded in July. These declines highlight the volatility in some of the major revenue sources, particularly as they relate to domestic consumption and taxation.

From the N1.203 trillion total distributable revenue, the Federal Government, State Governments, and Local Government Councils received allocations. The Federal Government received N374.925 billion, the State Governments received N422.861 billion, and the Local Government Councils received N306.533 billion. In addition, a total sum of N99.474 billion, which represents 13% of mineral revenue, was shared to the oil-producing states as derivation revenue.

Of the N186.636 billion distributable statutory revenue, the Federal Government received N71.624 billion, while the State Governments received N36.329 billion, and the Local Government Councils received N28.008 billion. Furthermore, N50.675 billion was allocated to oil-producing states as derivation revenue from this statutory distribution.

From the N533.895 billion VAT revenue, the Federal Government received N80.084 billion, while the State Governments and Local Government Councils received N266.948 billion and N186.863 billion respectively.

In terms of the N15.017 billion generated from the Electronic Money Transfer Levy (EMTL), the Federal Government received N2.252 billion, while the State Governments received N7.509 billion, and the Local Government Councils received N5.256 billion.

The N468.245 billion from Exchange Difference revenue was distributed with the Federal Government receiving N220.964 billion, the State Governments receiving N112.076 billion, and the Local Government Councils receiving N86.406 billion. In addition, oil-producing states were allocated N48.799 billion from this revenue as derivation.

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Anti-Graft Showdown: EFCC Grabs Malami’s Passport, Probes $400m Abacha Recovery

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…..Now to report daily for one month from Monday

….. Allegations against me fabricated, says ex-AGF

The Economic and Financial Crimes Commission (EFCC) yesterday seized the international passport of a former Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami, SAN.

The seizure was part of the ongoing investigation of the whereabouts of $490 million Abacha loot secured through Mutual Legal Assistance (MLAT).

Malami cannot travel out of the country in the next one month because the condition for his release at 1am on Saturday was for him to report daily for interaction in EFCC headquarters in Abuja.

But Malami, who said the allegations against him were fabricated, said the truth will unfold soon.

According to the fact-sheet on Malami, he has many issues to clarify with the EFCC in the next one month.

“We have asked him to explain the whereabouts of $490 million Abacha loot secured through Mutual Legal Assistance (MLAT).

“We didn’t say he stole money, but he should account for the loot. This is one of the issues he will clarify to our investigators.

“Considering the huge volumes of documents he has to go through and the detectives he needs to interact with, we have seized his international passport.

“One of the conditions for his release on bail at 1am on Saturday was that he should report daily to the EFCC headquarters for interaction.

“He cannot travel out of the country except as mutually agreed with EFCC or with the permission of a High Court.

“We won’t join issues with him on his braggadocio but we will release our findings to the public after painstaking investigation.”

Reacting on his X handle, Malami said the allegations against him were fabricated.

Although he said the truth will soon unfold, he was silent on the seizure of his international passport.

He said: “In line with my undertaking to keep Nigerians updated on my invitation by EFCC, I give glory to Allah for His divine intervention.

“The engagement was successful, and I am eventually released while on an appointment for further engagement as the truth relating to the fabricated allegations against me continues to unfold.”

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BREAKING: Tinubu Finally Nominates Ex-INEC Chair Yakubu, Fani-Kayode, Omokri, 29 Others as Ambassadors

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President Bola Ahmed Tinubu has transmitted a new list of 32 ambassadorial nominees to the Senate for confirmation, just days after submitting an initial batch of three names.

In two separate letters addressed to Senate President Godswill Akpabio, President Tinubu urged the lawmakers to give swift consideration and approval to 15 career ambassadors and 17 non-career ambassadors.

The list was released on Saturday in a statement by Bayo Onanuga, Special Adviser to the President on Information and Strategy.

According to the breakdown, four women were nominated as career ambassadors, while six women made the non-career category.

Notable nominees in the non-career group include Barrister Ogbonnaya Kalu from Abia; former presidential aide Reno Omokri (Delta); former chairman of the Independent National Electoral Commission (INEC), Mahmud Yakubu; former Ekiti first lady, Erelu Angela Adebayo; and former Enugu governor, Ifeanyi Ugwuanyi.

Others are Tasiu Musa Maigari, the former speaker of the Katsina House of Assembly, Yakubu N. Gambo, a former Commissioner in Plateau State and former deputy executive secretary of the Universal Basic Education Commission (UBEC).

Professor Nora Ladi Daduut, a former senator from Plateau; Otunba Femi Pedro, a former deputy governor of Lagos State; Chief Femi Fani-Kayode, a former aviation minister from Osun State; and Barrister Nkechi Linda Ufochukwu from Anambra State are on the nomination list.

Also on the list are former First Lady of Oyo, Fatima Florence Ajimobi, former Lagos Commissioner, Lola Akande, former Adamawa Senator, Grace Bent, former governor of Abia, Victor Okezie Ikpeazu, Senator Jimoh Ibrahim, businessman, lawyer and Senator from Ondo State, and the former ambassador of Nigeria to the Holy See, Ambassador Paul Oga Adikwu from Benue State.

Among the nominees for career ambassador and high commissioner-designates are: Enebechi Monica Okwuchukwu (Abia), Yakubu Nyaku Danladi (Taraba), Miamuna Ibrahim Besto (Adamawa), Musa Musa Abubakar (Kebbi), Syndoph Paebi Endoni (Bayelsa), Chima Geoffrey Lioma David (Ebonyi) and Mopelola Adeola-Ibrahim (Ogun).

The other nominees are Abimbola Samuel Reuben (Ondo), Yvonne Ehinosen Odumah(Edo), Hamza Mohammed Salau (Niger), Ambassador Shehu Barde (Katsina), Ambassador Ahmed Mohammed Monguno (Borno), Ambassador Muhammad Saidu Dahiru (Kaduna), Ambassador Olatunji Ahmed Sulu Gambari (Kawara) and Ambassador Wahab Adekola Akande (Osun).

The new nominees are expected to be posted to countries with which Nigeria maintains excellent and strategic bilateral relations, such as China, India, South Korea, Canada, Mexico, the United Arab Emirates, Qatar, South Africa, Kenya, and to Permanent Missions such as the United Nations, UNESCO, and the African Union. All the nominees will know their diplomatic assignments after their confirmation by the Senate.

Last week, President Tinubu sent three ambassadorial nominees for screening and confirmation. The nominees were Ambassador Ayodele Oke (Oyo), Ambassador Amin Mohammed Dalhatu (Jigawa), and Retired Colonel Lateef Kayode Are (Ogun). All three are in the pot for posting to the UK, USA, or France after their confirmation.

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BREAKING: Tinubu Declares Security State of Emergency, Approves Major Recruitment Drive for Military and Police — “We Will Smoke Out All Criminal Elements”

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…tasks herders to abandon open grazing, embrace ranching, surrender arms

President Bola Ahmed Tinubu on Wednesday declared a nationwide security emergency in response to the wave of violent attacks across parts of the country, announcing sweeping directives for expanded recruitment into the Armed Forces and Police, the activation of forest guards, and tighter security measures for all vulnerable areas.

In a statement personally he issued, President Tinubu said, “Today, in view of the emerging security situation, I have decided to declare a nationwide security emergency and order additional recruitment into the Armed Forces.”

By this order, he said both the police and the army had been authorised to recruit more operatives, saying, “The police will recruit an additional 20,000 officers, bringing the total to 50,000.”

The president also directed that the police could now use National Youth Service Corps (NYSC) camps as training depots, noting that although he had previously approved the upgrade of police training institutions, the new security reality required immediate expansion of capacity.

He further ordered that officers being withdrawn from VIP guard duties must undergo crash retraining.

According to him, the exercise is to “debrief them and deliver more efficient police services when deployed to security-challenged areas of the country.”

Tinubu also empowered the Department of State Services (DSS) to activate fully the forest security architecture.

“The DSS also has my authority to immediately deploy all the forest guards already trained to flush out the terrorists and bandits lurking in our forests,” he said, adding that the agency had his directive to recruit additional personnel.

“There will be no more hiding places for agents of evil”, the President said.

Calling the situation “a national emergency,” the President said the federal government was responding by “deploying more boots on the ground, especially in security-challenged areas.”

He appealed to citizens to play their part, saying “the times require all hands on deck. As Nigerians, we should all get involved in securing our nation.”

President Tinubu commended security forces for recent breakthroughs, including the rescue of abducted schoolgirls in Kebbi and the 38 worshippers seized in Kwara State.

“We will continue to sustain the efforts to rescue the remaining students of Catholic School in Niger State and other Nigerians still being held hostage,” he assured.

To military personnel across the country, he delivered a firm charge, saying “I commend your courage and your sacrifice… I charge you to remain resolute, to restore peace across all theatres of operation, and to uphold the highest standards of discipline and integrity. There must be no compromise, no collusion, and no negligence.”

He added that his administration would support them fully to succeed.

Tinubu also pledged federal support to states with existing security outfits and urged the National Assembly to begin a legislative review to allow states that require state police to establish them.

He cautioned state governments against operating boarding schools in remote, unsecured areas, and advised religious institutions to “constantly seek police and other security protection when they gather for prayers, especially in vulnerable areas.”

The President reiterated his administration’s stance on resolving farmer-herder clashes, pointing to the establishment of the Ministry of Livestock Development.

He urged herder groups to abandon open grazing and embrace ranching, saying “I call on all herder associations to take advantage of it, end open grazing and surrender illegal weapons. Ranching is now the path forward”.

Tinubu expressed sympathy to families affected by recent attacks in Kebbi, Borno, Zamfara, Niger, Yobe and Kwara States.

He also paid tribute to fallen soldiers, including Brigadier-General Musa Uba.

“Those who want to test our resolve should never mistake our restraint for weakness. This administration has the courage and determination to keep the country safe and ensure our citizens live in peace”, he warned.

In a rallying call to Nigerians, the President urged unity and vigilance, saying “I urge you not to give in to fear and never succumb to despair… Report suspicious activities. Cooperate with security agencies. We are in this fight together, and together we shall win.”

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