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FG, States, LGs Share N1.4trn For June

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The Federation Account Allocation Committee (FAAC), today, shared a total of N1.354 trillion to the three tiers of government.

A communique at the end of its meeting in Abuja indicated that the funds came from the Federation revenue earned in June

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The distributable revenue comprised statutory revenue of N 142.5 billion, distributable Value Added Tax (VAT) revenue of N523.973 billion, Electronic Money Transfer Levy (EMTL) revenue of N15.692 billion, Exchange Difference revenue of N472.192 billion and Augmentation of N200.000 billion.

Total revenue of N2.483 trllion was available in the month of June 2024.

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Total deduction for cost of collection was N92.112 billion while total transfers, interventions and refunds was N1,037.407 billion.

Gross statutory revenue of N1.432 trillion was received for the month of June 2024.

This was higher than the sum of N1.223 trillion received in month of May 2024 by N208.773 billion.

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The gross revenue of N562.685 billion was available from the Value Added Tax (VAT) in June 2024. This was higher than the N497.665 billion available in the month of May 2024 by N65.020 billion.

The communiqué stated that from the N1,354.371 billion total distributable revenue, the Federal Government received total sum of N459.776 billion, the State Governments received total sum of N461.979 billion and the Local Government Councils received total sum of N337.019 billion.

READ ALSO: FAAC: FG, States, LGs Share N1.15trn For January

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A total sum of N95.598 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.

On the N142.514 billion distributable statutory revenue, the communiqué stated that the Federal Government received N48.952 billion, the State Governments received N24.829 billion and the Local Government Councils received N19.142 billion.

The sum of N49.591 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.

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The Federal Government received N78.596 billion, the State Governments received N261.987 billion and the Local Government Councils received N183.391 billion from the N523.973 billion distributable Value Added Tax (VAT) revenue.

READ ALSO: FG, States, LGs Share N714.629bn March FAAC Revenue

A total sum of N2.354 billion was received by the Federal Government from the N15.692 billion Electronic Money Transfer Levy (EMTL). The State Governments received N7.846 billion and the Local Government Councils received N5.492 billion.

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From the N472.192 billion Exchange Difference revenue, the Federal Government received N224.514 billion, the State Governments received N113.877 billion and the Local Government Councils received N87.794 billion. A total sum of N46.007 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.

On the N200.000 billion augmentation, the Federal Government received N105.360 billion, the State Governments received N53.440 billion and the Local Government Councils received N41.200 billion.

According to the communiqué, in the month of June 2024, Companies Income Tax Oil (CIT) and Value Added Tax (VAT) increased significantly while Import and Excise Duties and Electronic Money Transfer Levy (EMTL) increased marginally. Royalty Crude, Petroleum Profit Tax (PPT), Rentals and CET Levies recorded considerable decreases.

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The balance in the ECA was $473,754.57

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US To Revoke Student Visas For Those Who Skip Classes, Programmes

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The United States has issued a warning to international students regarding the consequences of violating student visa regulations.

In a message shared via its official X handle on Monday, the US Mission in Nigeria stressed that students who drop out, skip classes, or leave their academic programmes without notifying their schools risk having their US student visas revoked.

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Such actions could also lead to disqualification from obtaining future US visas, it stated.

READ ALSO:9 Most-requested Documents For Work Visas

The mission advised all student visa holders to strictly adhere to the terms of their visas and maintain their academic status to avoid any immigration issues.

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If you drop out, skip classes, or leave your programmes of study without informing your school, your student visa may be revoked, and you may lose eligibility for future US visas.

“Always adhere to the terms of your visa and maintain your student status to avoid any issues,” the mission noted.

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Fake Labubu Dolls Worth Millions Seized In London Raid Amid Growing Safety Fears

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Thousands of fake Labubu dolls believed to be worth millions of pounds have been seized at an industrial estate on the outskirts of London following a major crackdown led by Trading Standards and law enforcement agencies.

The operation, which followed weeks of investigation, traced the fake merchandise from a corner shop in Swansea, south Wales, to a warehouse complex in London.

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Officers discovered rooms stacked floor-to-ceiling with fake goods, but it was the imitation Labubu dolls at the centre of a viral TikTok craze that drew the most concern.

The dolls, produced by popular toy company Pop Mart, have surged in global demand, with some genuine pieces retailing for up to £80. The popularity of the brand helped the company double its revenue to £1.33 billion last year, according to Forbes. However, authorities say the boom has also attracted criminal enterprises looking to profit from the trend through counterfeit production.

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“The head comes off. The feet pull off. The eyes aren’t glued in,” said Rhys Harries, a Trading Standards officer, while examining one of the seized dolls. “These are clear choking hazards.”

Using a plastic tool modelled after a child’s throat, Harries demonstrated how easily parts of the fake dolls could become life-threatening. “These parts would get stuck and potentially cause choking,” he warned.

The scale of the operation was alarming. Border Force officials say they have intercepted hundreds of thousands of fake Labubu dolls at UK ports in recent months, with many traced back to manufacturers in China, Hong Kong, and Turkey.

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In one case, a mother from Caerphilly, Jade, recounted how fake Labubu dolls she bought for her six-year-old son Harri’s birthday began falling apart within hours. “The hook came off and ended up in his mouth,” she said. “Luckily he was old enough to spit it out and tell me.”

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Despite knowing the dolls were fakes, Jade said she bought them due to the high cost of the original ones and peer pressure from other children. She got the knock-offs for just over £10 each.

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Authorities say the rush to cash in on the craze has led to the use of substandard and potentially dangerous materials, including toxic plastics. Kate Caffery, deputy director of intelligence and law enforcement at the UK’s Intellectual Property Office, said counterfeiting is the second most lucrative source of criminal income worldwide, after drug trafficking.

“There’s a complete disregard for safety,” Caffery said. “They’re made from anything from the inferior to the outright dangerous.”

READ ALSO:Nigeria’s Uche Nnaji’s Car Burgled At London Carpark, Rolex, Foreign Currency, Others Carted Away

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TikTok collector and plush toy enthusiast Meg Goldberger, 27, said she struggled to find genuine dolls due to scalpers bulk-buying authentic stock and reselling them at inflated prices. “They sell out in seconds,” she said. “Some resellers are using bots to buy hundreds at once.”

Investigators found invoice books showing the dolls were destined for locations across the UK. Some of the seized dolls will be used as evidence, while the rest will be stored in a secure location before being recycled or destroyed.

Pop Mart has been contacted for comment on the counterfeit issue, which authorities say is now a national concern.

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Young Catholics Converge On Rome For Pope Leo’s Vigil

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Thousands of young Catholics began assembling Saturday for an evening prayer vigil led by Pope Leo XIV, the culmination of a week-long pilgrimage and a key event in the Jubilee holy year that is expected to draw up to a million people.

The “Jubilee of Youth” — when the Vatican invites Catholics aged 18 to 35 to the seat of the global Church’s power — has seen young pilgrims from around the world flood Rome, waving flags, singing or praying in groups.

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It comes nearly three months after Leo, 69, the first American pontiff, began his papacy, and 25 years after the last such massive youth gathering in Rome under Poland’s Pope John Paul II.

On Saturday morning, thousands of young pilgrims had already gathered at the vast open space in Rome’s eastern Tor Vergata neighbourhood where the pope will lead the vigil, the ground already dotted with blankets and mattresses.

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Elsewhere in the Eternal City, numerous groups of young people were seen preparing to set off for the venue.

On the plaza outside the Basilica of St John Lateran, they filled water bottles, applied suncream and checked bags of food and snacks — ready to spend the next 24 hours surrounded by a swarm of people and then sleep under the stars.

Victoria Perez, who carried a Spanish flag, could not contain her excitement at seeing “the Pope up close.

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It’s the first time I’m going to see him, and I can’t wait,” the 21-year-old told AFP, excited to experience the “night of prayers under the stars”.

French pilgrim, Quentin Remaury, 26, said he had been inspired by the late Pope Francis’s rousing message to youth during a 2016 visit to Krakow, Poland.

READ ALSO:Gunmen Invade Catholic Seminary School In Edo, Kill One, Abduct Three

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Pope Francis told us to ‘get off your couches,’ and that really gave me a boost,” he said.

– ‘What is his message?’ –

Since the youth jubilee began on Monday, attendees have participated in various Church-planned events throughout the city.

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On Friday, approximately 1,000 priests were on hand to take confession at Circus Maximus, one of Rome’s top tourist spots.

Some 200 white gazebos lined the hippodrome where chariot races were once held, and youths lined up to speak to priests in 10 different languages.

Of the many languages heard on the streets of the Italian capital this week, Spanish seemed to dominate. The Vatican has said that more than 146 countries were represented, and it expects up to a million people to attend the vigil.

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The pilgrimage is taking place as economic uncertainty and anxiety over climate change rise among the under-30s, with many saying they were curious to hear the Church’s position on global warming, wars and economic inequalities.

Samarei Semos, 29, said she had travelled three days from her native Belize to get to Rome.

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“We are still trying to understand his leadership,” she said of the new pope, adding she hoped he would have a strong say about “third world countries”.

As Parisian student Alice Berry exclaimed, “What does he have to say to us? What is his message for young people?”

– Raising voices –

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The youth pilgrimage also comes amid global alarm over the humanitarian situation in Gaza, and more than three years of war in Ukraine.

READ ALSO:Pope Leo XIV Outlines A Path For A Modern Church That Follows Francis’ Steps

The Vatican has praised young Catholics who managed to travel to Rome from war-scarred countries, with Pope Leo saying the voices of the world’s youth “will be heard to the end of the earth”.

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In an unprecedented move, Leo hosted a mass on Tuesday for Catholic social media influencers, signalling the Vatican’s openness to supporting the Internet-savvy youth.

More than 4,300 volunteers will be working the event to welcome the young pilgrims, along with over 1,000 police, according to organisers.

Roman authorities have tightened security in the city — which has seen an unprecedented number of people, with both tourists and pilgrims inundating the city.

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