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FG, States, LGAs Share ₦1.424tn FAAC Revenue In December 2024

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A total sum of ₦1.424 trillion, being December 2024 Federation Accounts Revenue, has been shared among the Federal Government, States and Local Government Councils.

The revenue was shared at the January 2025 Federation Account Allocation Committee (FAAC) meeting held in Abuja.

The Director of Press and Public Relations, Office of the Accountant General of the Federation (OAGF), Bawa Mokwa, disclosed this in a statement on Friday.

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READ ALSO: FG, States, LGs Shared N1.2tn In August – FAAC

The ₦1.424 trillion total distributable revenue comprised distributable statutory revenue of ₦386.124 billion, distributable Value Added Tax (VAT) revenue of ₦604.872 billion, Electronic Money Transfer Levy (EMTL) revenue of ₦31.211 billion and Exchange Difference revenue of ₦402.714 billion.

A communiqué issued by the Federation Account Allocation Committee (FAAC) indicated that total gross revenue of ₦2.310 trillion was available in the month of December 2024. Total deduction for cost of collection was N84.780 billion while total transfers, interventions and refunds was N801.175 billion.

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READ ALSO: FAAC: FG, States, LGs Share N1.7tn November Revenue

According to the communiqué, gross statutory revenue of ₦1.226 trillion was received for the month of December 2024. This was lower than the sum of ₦1.827 trillion received in the month of November 2024 by ₦600.988 billion.

Gross revenue of ₦649.561 billion was available from the Value Added Tax (VAT) in December 2024. This was higher than the N628.973 billion available in the month of November 2024 by N20.588 billion.

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Transfer: Premier League Clubs Scramble For Dele-Bashiru

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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.

READ ALSO:Film Premiere: Edo In Talks With Embassies To Promote Safe Migration —Agazuma

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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.

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He has been a regular feature for Lazio this season.

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Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses

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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.

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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.

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“This contradiction will no longer be tolerated,” the statement said.

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N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs

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First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.

The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.

At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.

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Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.

READ ALSO:I’ve Been Blacklisted In Music Industry For 13 Years – Seun Kuti

Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.

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Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.

“Women-led enterprises are critical to economic activity, yet they face structural barriers.

This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”

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Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).

READ ALSO:My Beef With Wizkid Is For Life – Seun Kuti

By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”

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Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.

Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.

Applications for the zero-interest loan are now open.Apply now.

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