News
FAAC Shares N1.100 Trillion To FG , States, LGs
The Federation Account Allocation Committee (FAAC) has shared a total sum of N1.100 trillion to the federal government, states and Local Government Councils.
This was contained in communique issued by the FAAC at its September, 2023 meeting, this morning, in Abuja according to a statement by the Director of Press and Public Relations of the Offixe of the Accountant- General of the Federation, Mr. Bawa Mokwa.
It indicated that the N1100.101 billion total distributable revenue comprised distributable statutory revenue of N357.398 billion, distributable Value Added Tax (VAT) revenue of N 321.941 billion, Electronic Money Transfer Levy (EMTL) revenue of N14.102 billion, Exchange Difference revenue of N 229.568 billion and Augmentation of NN177.092 billion.
According to the communique, total revenue of N1.483 trillion was available as revenue earned in the month of August.
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Total deductions for cost of collection was N58.755 billion, total transfers and refunds was N254.046 billion and savings was N71.000 billion.
Gross statutory revenue of N 891.934 billion was received for the month of August 2023.
This was lower than the N1150.424 billion received in the month of July 2023 by N258.490 billion.
The gross revenue available from the Value Added Tax (VAT) was N345.727 billion. This was higher than the N298.789 billion available in the month of July 2023 by N46.938 billion.
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Of the N1 100 trillion total distributable revenue, the Federal Government received a total of N431.245 billion, State Governments, N361.188 billion and the Local Government Councils received N266.538 billion.
A total sum of N26.473 billion (13% of mineral revenue) and N14.657 billion (13% of savings from NNPCL), were shared to the relevant States as derivation revenue.
A further analysis showed that of the N357.398 billion distributable statutory revenue, the Federal Government received N173.102 billion, the State Governments received N87.800 billion, while the Local Government Councils received N67.690 billion.
The sum of N14.446 billion (13% of mineral revenue) and N14.361billion (13 % of savings from NNPCL) were shared to the relevant States as derivation revenue.
The Federal Government received N48.291 billion, the State Governments received N160.971 billion and the Local Government Councils received N112.679 billion from the N321.941 billion distributable Value Added Tax (VAT) revenue.
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The N14.102 billion Electronic Money Transfer Levy (EMTL) was shared as follows: the Federal Government received N2.115 billion, the State Governments received N7.051 billion and the Local Government Councils received N4.936 billion.
The Federal Government received N114.445 billion from the N229.568 billion Exchange Difference revenue.
The State Governments received N58.048 billion, and the Local Government Councils received N44.752 billion, respectively.
The sum of N12.027 billion (13% of mineral revenue) and N0.296 billion (13 % of savings from NNPCL) went to the relevant States as derivation revenue.
From the N177.092 billion Augmentation, the Federal Government received N93.292 billion, the State Governments received N47.319 billion and the Local Government Councils got N36.481 billion.
Value Added Tax (VAT), Import and Excise Duties and Electronic Money Transfer Levy (EMTL) were said to have increased considerably, while Petroleum Profit Tax (PPT), Companies Income Tax (CIT), Oil and Gas Royalties recorded significant decreases.
The balance in the Excess Crude Account (ECA) was put at $473,754.
News
Edo NLC Crisis: Caretaker Committee Drags Rival Exco, Govt To Court
The division in the Edo State Council of the Nigeria Labour Congress (NLC), took a new dimension on Wednesday as Prof. Monday Monday Lewis Igbafen-led caretaker committee approached the National Industrial Court of Nigeria, Benin Judicial Division, seeking to affirm its authority and restrain a rival executive from parading itself as the council’s leadership.
Joined in the suit are the Edo State Government, the Commissioner for Labour and Productivity, and the Attorney-General and Commissioner for Justice.
In a suit marked: NICN/BEN/12/2026, and filed before the court in Benin, the claimant, Igbafen, acting for himself and on behalf of the NLC Caretaker Committee in Edo State, is challenging the continued occupation of the union’s secretariat and control of its assets by members of the Bernard Egwakhide-led factional State Executive Council.
READ ALSO:Edo NLC Divided Over May Day Celebration
The claimants are asking the court to declare that the caretaker committee (Igbafen-led faction), constituted on August 11, 2025, by the NLC national leadership, remains the only lawful authority to administer the affairs of the Edo State Council pending fresh elections.
They further seek a declaration that the continued occupation of the NLC secretariat located at No. 1 Teboga Road, Benin City, as well as the retention of union assets, financial records, and official instruments by the defendants, is illegal and void.
The suit also prays for an order of perpetual injunction restraining the defendants from parading themselves as officials of the NLC Edo Council or interfering with the functions of the caretaker committee.
In addition, the claimants are seeking a mandatory order compelling the defendants to immediately hand over the secretariat, vehicles, financial documents, cheque books, and all other properties belonging to the union.
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The caretaker committee further urged the court to restrain the state government and its officials from interfering in the internal affairs of the union, alleging undue support for the dissolved executive.
The claimants further demand N50 million as general and exemplary damages against the defendants for alleged unlawful usurpation of office and acts prejudicial to the administration of the council.
According to court documents made available to our correspondent, the crisis followed the dissolution of the Edo State Council by the NLC National Executive Council on February 27, 2025, over allegations of misconduct, anti-union activities, and constitutional violations.
However, the matter has yet to be assigned a hearing date.
News
Transfer: Premier League Clubs Scramble For Dele-Bashiru
Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.
Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.
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La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.
The 24-year-old has two years left on his contract with the Serie A club.
The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.
He has been a regular feature for Lazio this season.
News
Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses
The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.
DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.
A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.
READ ALSO:Xenophobic Attacks: Oshiomhole Tells FG To Retaliate Against South African Companies In Nigeria
“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.
“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.
“This contradiction will no longer be tolerated,” the statement said.
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