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FAAC Shares N907b To FG, States, LGs

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The Federation Account Allocation Committee (FAAC), last night, shared the sum of N907.054 billion to the federal, state and local governments.

Mr Bawa Mokwa, Director (Press and Public Relations) of the Office of the Accountant General of the Federation (OAGF) in a statement said that the sum was from revenues that accrued to the Federation Account and proceeds of Value Added Tax in the month of June.

Last night’s meeting was chaired by the Accountant General of the Federation, Dr Oluwatoyin Madein.

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A communique issued at the end of the meeting showed that the expected massive distributable funds following the petrol subsidy removal did not materialise.

READ ALSO: FEC Okays N129.8bn For Further Remediation Work On Ogoni Cleanup, Water Scheme

The average FAAC monthly distribution has been in the region of N700 billion and many Nigerians expected a huge increase in the monthly distribution after the petrol subsidy removal.

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The N907.054 billion total distributable revenue comprised distributable statutory revenue of N301.501 billion, distributable Value Added Tax (VAT) revenue of N273.225 billion, Electronic Money Transfer Levy (EMTL) revenue of N11.436 billion and Exchange Difference revenue of N320.892 billion.

In June 2023, the total deductions for the cost of the collection were N73.235 billion and the total deductions for savings, transfers and refunds were N979.078 billion.

The balance in the Excess Crude Account (ECA) was $473,754.57.

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READ ALSO: FEC Approves N392.786bn For Ministry Of Works, Customs Others

Out of the N907.054 billion; the Federal Government received N345.564 billion, the State Government received N295.948 billion and the Local Government Councils received N218.064 billion. A total sum of N47.478 billion was shared to the relevant States as 13% derivation revenue.

Gross statutory revenue of N1,152.921 billion was received for the month of June 2023. This was higher than the sum of N701.787 billion received in the previous month by N451.134 billion.

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From the N301.501 billion distributable statutory revenue, the Federal Government received N146.710 billion, the State Governments received N74.413 billion and the Local Government Councils received N57.370 billion.

The sum of N23.008 billion was shared to the relevant States as 13% derivation revenue.

READ ALSO: Naira Scarcity May Affect Private Business In Q1 – Report

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For the month of June 2023, the gross revenue available from the Value Added Tax (VAT) was N293.411 billion. This was higher than the N270.197 billion available in the month of May 2023 by N23.214 billion.

The Federal Government received N40.984 billion, the State Governments received N136.613 billion and the Local Government Councils received N95.629 billion from the N273.225 billion distributable Value Added Tax (VAT) revenue.

The N11.436 billion Electronic Money Transfer Levy (EMTL) was shared as follows: the Federal Government received N1.715 billion, the State Governments received N5.718 billion and the Local Government Councils received N4.003 billion.

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From the N320.892 billion Exchange Difference revenue, the Federal Government received N156.155 billion, the State Governments received N79.204 billion, the Local Government Councils received N61.063 billion and the sum of N24.470 billion was shared to the relevant States as 13 percent mineral revenue.

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Morocco Jails Student One Year Over Gen Z Protest

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A student arrested during Morocco’s youth-led protests has been sentenced to one year in prison, his lawyer told AFP on Friday.

The case marks the first publicly known prison sentence linked to the kingdom’s Gen Z demonstrations, which have been held near-daily between late September and last week to demand social and political reforms.

The student was charged with “participating in an unauthorised and unarmed gathering” and “insulting the judicial police by providing false information”, lawyer Mohamed Nouini said.

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“The ruling is unfair, and we will appeal,” he added, arguing that sit-ins did not require authorisation as per a Supreme Court precedent.

READ ALSO:Why Wike Is Always Attacking Peter Obi — Obidient Movement

The lawyer said his client was arrested on September 30, three days after the protests erupted in the North African country.

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According to a report by news website Hespress, citing another lawyer, the student’s arrest was “an unfortunate coincidence” as he was in Casablanca for a family visit.

The other lawyer, Mohamed Lakhdar, told the judge the student had “not insulted” police nor provided false information, telling them he “was just a student”, according to the report.

Hundreds were arrested during the early days of the largely peaceful demonstrations.

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Some cities had seen spates of violence and acts of vandalism, while authorities have said three people were killed by police acting in “self-defence” during clashes in a village near Agadir.

The Moroccan Association for Human Rights (AMDH) has said roughly 550 people are facing prosecution on suspicion of joining the protests, with some still in detention.

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The organisers of the online-based movement behind the nationwide protests, the GenZ 212 youth collective, remain unknown.

READ ALSO:Ghana To Take More West African Deportees From US

The collective has called for “peaceful sit-ins” on Saturday and demanded the release of those arrested during the demonstrations.

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The protest came after the deaths of eight pregnant women during Caesarean sections at a hospital in Agadir.

But protesters have also demanded reforms to the education system and a change of government.
AFP

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Trump Refiles $15bn Defamation Lawsuit Against New York Times

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US President Donald Trump has refiled a $15 billion defamation lawsuit against The New York Times, court documents show, weeks after it was thrown out by a federal judge.

Trump has intensified his long-established hostility toward the media since his return to the White House, and the suit is one of numerous attacks against news organizations he accuses of bias against him.

The Times’ complaint was thrown out in September because District Judge Steven Merryday took exception to its florid writing, repetitive and laudatory praise of Trump, and its excessive 85-page length.

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The suit filed Thursday in Florida and seen by AFP runs to less than half the length, at 40 pages.

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It takes aim at “false, defamatory, and malicious publications”, highlighting a book and two Times articles.

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The lawsuit named the newspaper, three Times reporters and the publisher Penguin Random House as defendants.

It accuses them of making defamatory statements against Trump “with actual malice.”

The statements in question wrongly defame and disparage President Trump’s hard-earned professional reputation, which he painstakingly built for decades” before entering the White House, the lawsuit says.

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READ ALSO:Trump Gives Update On Israel, Hamas Peace Deal

The court was asked to grant compensatory damages of not less than $15 billion and additional punitive damages “in an amount to be determined upon trial.”

Trump’s attacks on media outlets have seen him restrict access, badmouth journalists critical of his administration, and bring lawsuits demanding huge amounts of compensation.

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In July, Trump sued media magnate Rupert Murdoch and The Wall Street Journal for at least $10 billion after it reported on the existence of a book and a letter he allegedly sent to sex offender Jeffrey Epstein.

Paramount settled Trump’s lawsuit over election coverage on CBS News’ flagship show “60 Minutes” for $16 million the same month. He had alleged that the program deceptively edited an interview with his 2024 election rival, Kamala Harris, in her favor.

AFP

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Italian Journalist’s Car Bombed, No Casualties

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A bomb destroyed the vehicle of a prominent Italian journalist overnight, without causing casualties, his investigative television news show announced Friday.

Sigfrido Ranucci’s car blew up in an explosion in Pomezia, near Rome, that also damaged the family’s other car and the house next door, according to Report, which broadcasts on RAI public television.

“The force of the explosion was so strong that it could have killed anyone passing by at the moment,” it said in a statement on X.

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Italian Prime Minister Giorgia Meloni strongly condemned what she called a “serious act of intimidation”.

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“The freedom and independence of information are non-negotiable values of our democracies, which we will continue to defend,” she wrote on X.

Interior Minister Matteo Piantedosi said he had ordered an increase in the journalist’s security “to the maximum”.

He called the attack a “cowardly and extremely serious act that represents an attack not only on the person but on the freedom of the press and the fundamental values of our democracy”.

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READ ALSO:Dogs Attack, Kill Nigerian Woman In Italy

The Report show is known for its in-depth investigative reports.

According to the campaign group Reporters Without Borders (RSF), Italy ranks 49th in the world in terms of press freedom.

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Journalists who investigate organised crime and corruption are systematically threatened and sometimes subjected to physical violence for their investigative work,” it said in its latest update.

About 20 journalists currently live under permanent police protection after being the targets of intimidation and attacks, it added.

AFP

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