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FAAC: FG, States, LGCs Share N1.203trn August, 2024 Revenue

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By Tony Obiechina, Abuja

A total sum of N 1.203 trillion August 2024 Federation Accounts Revenue has been shared to the Federal Government, States and Local Government Councils in the country. The revenue distribution was announced at the September 2024 meeting of the Federation Accounts Allocation Committee (FAAC), in Abuja.

The N1.203 trillion total distributable revenue comprised 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. A communiqué issued by the Federation Accounts Allocation Committee (FAAC) indicated that total revenue of N2.
278 trillion was available in the month of August 2024. Total deduction for cost of collection was N81.975 billion while total transfers, interventions and refunds was N992.617 billion. According to the communiqué, gross statutory revenue of N1.221 trillion was received for the month of August 2024. This was lower than the sum of N1.387 trillion received in the month of July 2024 by N165.994 billion. Gross revenue of N573.341 billion was available from the Value Added Tax (VAT) in August 2024. This was lower than the N625.329 billion available in the month of July 2024 by N51.988 billion. The communiqué stated that from the N1.203 trillion total distributable revenue, the Federal Government received total sum of N374.925 billion and the State Governments received total sum of N422.861 billion. The Local Government Councils received total sum of N306.533 billion and a total sum of N99.474 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue. On the N186.636 billion distributable statutory revenue, the communiqué stated that the Federal Government received N71.624 billion and the State Governments received N36.329 billion. The Local Government Councils received N28.008 billion and the sum of N50.675 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue. From the N533.895 billion distributable Value Added Tax (VAT) revenue, the Federal Government received N80.084 billion, the State Governments received N266.948 billion and the Local Government Councils received N186.863 billion A total sum of N2.252 billion was received by the Federal Government from the N15.017 billion Electronic Money Transfer Levy (EMTL). The State Governments received N7.509 billion and the Local Government Councils received N5.256 billion.From the N468.245 billion Exchange Difference revenue, the communiqué stated that the Federal Government received N220.964 billion and the State Governments received N112.076 billion. The Local Government Councils received N86.406 billion, while the sum of N48.799 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue. In August 2024, Oil and Gas Royalty, Petroleum Profit Tax (PPT), Value Added Tax (VAT), Import and Excise Duties, Electronic Money Transfer Levy (EMTL), CET Levies and Companies Income Tax (CIT) all recorded decreases. The balance in the ECA was $473,754.57

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Ohanaeze Ndigbo President Iwuanyanwu for Burial Nov. 1

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By David Torough, Abuja

The remains of elder statesman and President General of the pan-Igbo group, Ohanaeze Ndigbo Worldwide, Chief Emmanuel Iwuanyanwu, have been slated for burial on November 1.

Chairman of the burial committee, Senator Ben Obi, disclosed this at a news conference in Abuja on Thursday.

Alongside with the Secretary General of Ohanaeze Ndigbo, Amb Okey Emuchay and burial sub-committee chairmen, Senator Osita Izunaso, Gen.

Azubuike Ihejirika (retd) and others, Obi unveiled a series of activities culminating into the actual burial ceremony.

“Our message today is to convey the dates for the burial of the President General of Ohanaeze Ndigbo.

“Lagos day of tributes, Wednesday 16th October 2024 at Eko Hotels and Convention Centre.

“Abuja Day of Tributes Friday 18th October, 2024 at the National Ecumenical Centre.

“Enugu Day of tributes, Saturday 26th October with a brief stop at Ohanaeze headquarters, 7 Parkland GRA Enugu while the main event will be held at the Okpara Square.

“Owerri Service of Songs Tuesday 29th October 2024. Commendation Service on 1st November in Owerri and Imo day of burial on Friday, 1st November 2024,” he said.

He added that further details will be communicated in due course.

On whether the Federal Government would participate in the burial, Senator Obi said the committee will visit President Bola Tinubu to intimate him about the transition of the statesman and details of his burial.

“We will be visiting President Tinubu to formally announce to him details of this transition and I am sure the President knows all that Chief Iwuanyanwu had done and he will do the needful,” he said.

Asked whether the late newspaper publisher had regrets about his inability to secure the release of Mazi Nnamdi Kanu and ensure the realization of a restructure federation, the Ohanaeze Ndigbo scribe said Chief Iwuanyanwu died a fulfilled man because he never shies away from doing his best in the circumstance.

“Chief Iwuanyanwu and I visited Kanu in jail and I think that was his last official assignment before his demise.

“Prior to that, he had never missed any opportunity to call for the release of Kanu.

“On restructuring, he never minced his words on equity, fairness and justice and he knew that he couldn’t do it alone.

“So he operated with the South-South PANDEF, Middle Belt Forum and Afenifere. He asked for parity in the number of states in each geopolitical zone.

“We in Ohanaeze will continue to pursue these issues that were very dear to his heart and we want to give the assurances that we will not fail,” Obi said.

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Shettima to Lead Nigeria’s Delegation to UNGA

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President Bola Tinubu will not attend the 79th United Nations General Assembly session in New York this year.The President has thus directed Vice President Kashim Shettima to lead Nigeria’s delegation, Mr Bayo Onanuga, Special Adviser, Information and Strategy, said in a statement on Thursday.“President Tinubu, who returned to the country last Sunday after his trip to China and the UK, wants to focus on domestic issues and address some of the country’s challenges, especially after the recent devastating flooding.

“At UNGA 79, Vice President Shettima will deliver Nigeria’s national statement to the General Assembly, attend important sideline events, and hold bilateral meetings,” said the statement.
The high-level General Debate, with the theme, “Leaving no one behind: Acting together for the advancement of peace, sustainable development and human dignity for present and future generations,”will run from Sept. 24, to Sept. 28. (NAN)

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NECO Releases 2024 SSCE Results

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The National Examinations Council, (NECO) has released the June/July 2024 Senior School Certificate Examination results (SSCE), with 60.55 per cent of candidates securing five credits and above in English Language and Mathematics.

The Registrar of NECO, Prof. Dantani Wushishi, disclosed this while addressing newsmen at the NECO headquarters on Thursday in Minna, Niger.

Wushishi said that a total of 1,376,423 candidates, representing 706,950 males and 669,473 females, registered for the exam.

The registrar said that 1,367,736 candidates sat for the examination,   representing 702,112 Males and 665,624 females.

He said that 828, 284 candidates had five credits and above, including English and Mathematics, representing 60.

55 per cent.

Wushishi said that the number of candidates with five credits and above, irrespective of English and Mathematics, were 1,147,597, representing 83.90 per cent.

He said that there was a great reduction in the number of examination malpractices this year compared to 2023.

“The number of candidates involved in various forms of malpractice in 2024 is 8,437 as against 12,030 in 2023, which shows a reduction of 30. 1 per cent,” he said.

The registrar, however, said that 40 schools were found to be involved in mass cheating during the examination.

” During the conduct of the 2024 Senior School Certificate Examination (SSCE), 40 schools were found to have been involved in whole school (mass) cheating in 17 states.

” They will be invited to the Council for discussion, after which appropriate sanctions will be applied.

“A school in Ekiti was recommended for de-recognition for mass cheating in two core subjects and 01 Science subject.

” Similarly, 21 Supervisors were recommended for blacklisting due to poor supervision, aiding and abetting, abscondment, extortion, drunkenness and negligence in 12 states,”said.

He urged candidates that sat for the examination to visit NECO website to access their results.

Wushishi said candidates can access their results on NECO website: www.neco.gov.ng using their examination registration number,” he said.(NAN)

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