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AK assault rifles, RPG 7 rocket launchers, mortar tubes, quadcopter drones, and ammunition. These are some of the weapons JNIM displayed after its attacks a few days ago on two Beninese army barracks in Koalou, near the Burkina Faso border, an attack that killed 12 soldiers. BREAKING 🇳🇬🚨: Terrorists Attack Kogi Community, Kill One, Abduct Over 30 Including Bus Passengers – Armed attackers killed one person and abducted over 30 residents and travelers in a Kogi State community, with no rescue confirmed. BREAKING 🇳🇬🚨: Boko Haram Plans “Quranic Graduation” for Over 100 Abducted Women and Children in Kwara – Families say the victims remain in captivity and are being subjected to indoctrination activities, raising fresh concern over their safety. BREAKING 🇳🇬🚨: Abductors Threaten Forced Marriage of Kwara Emir’s Abducted Wives Over Ransom Delay – Armed kidnappers holding the Emir of Yashikira’s wives reportedly issue threats linked to a ₦150 million ransom demand, heightening fears over their safety. PROTEST 🇳🇬✊: Oyo Residents Storm Ibadan, Demand Release Of Abducted Principal, Teachers And Pupils BREAKING 🇳🇬👑: Yoruba-born sprint sensation Tobi Amusan storms to victory in the women’s 100m hurdles final at the Rabat Diamond League, setting a new world record and once again putting Nigeria on top of the athletics world. 🔥🏃🏾‍♀️ “I Can’t Do Anything About Insecurity Until I Become President in 2027” – Gov Makinde Tells Oyo Parents as Abducted Children Remain in Captivity BREAKING 🇳🇬🗳️: Peter Obi has officially unveiled Rabiu Kwankwaso as his running mate for the 2027 presidential election under the Nigeria Democratic Congress (NDC), sealing a major North South political alliance ahead of the next general elections.

NEWS

July FAAC: FG, States, LGAs Get Over N900 Billion

July 21, 2023 • 1 min read

The Federation Account Allocation Committee (FAAC) has shared the sum of 907.054 billion naira for June 2023 Federation Account Revenue to the federal, state and local governments in the country.

This was contained in a communiqué issued at the end of the Federation Account Allocation Committee (FAAC) meeting for July 2023.

The meeting was chaired by the Accountant-General of the Federation, Dr. Oluwatoyin Madein.

The total distributable revenue comprised distributable statutory revenue of 301.501 billion naira, distributable Value Added Tax (VAT) revenue of 273.225 billion naira, Electronic Money Transfer Levy (EMTL) revenue of 11.436 billion naira and Exchange Difference revenue of 320.892 billion naira.

The balance in the Excess Crude Account (ECA) was 473,754.57 dollars.The communiqué stated that gross statutory revenue of 1.153 trillion naira was received for the month of June 2023, higher than the sum of 701.787 billion naira received in the previous month by 451.134 billion naira.

According to the communiqué signed by Bawa Mokwa, director, Press and Public Relations, Office of the Accountant-General of the Federation, Companies Income Tax (CIT) recorded tremendous increase in the month under review.

Import and Excise Duties, Value Added Tax (VAT), Oil and Gas Royalties increased significantly, while Petroleum Profit Tax (PPT) and Electronic Money Transfer Levy (EMTL) decreased considerably.