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FAAC Shares N547.309 bn to three Tiers of Govt for May 2020

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Dr. Mahmoud Isa-Dutse FAAC Shares N547.309 bn to three Tiers of Govt for May 2020

FAAC Shares N547.309 bn to three Tiers of Govt for May 2020

The Federation Accounts Allocation Committee (FAAC), today at its meeting via Virtual Conferencing, chaired by the Permanent Secretary, Federal Ministry of Finance, Budget and National Planning, Dr. Mahmoud Isa-Dutse, shared to the three tiers of government, a total sum of N547.309 billion as federation allocation for the month of May, 2020.

From this amount, inclusive of VAT, Exchange Gain and Excess Bank Charges recovered, the Federal Government received N219.799 billon, the States received N152.436 billion, Local Government councils got N114.095 billion, while the oil producing states received N37.021 billion as derivation (13% of Mineral Revenue).

However, cost of collection/FIRS Refund/ Allocation to North East Development Commission was N23.958 billion.

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In a communiqué issued by the Federation Account Allocation Committee (FAAC) at the end of the meeting, indicated that the Gross Revenue available from the Value Added Tax (VAT) for May 2020 was N103.873 billion as against the N94.498 billion distributed in the preceding month of April, 2020, resulting in an increase of N9.377 billion. The distribution is as follows; Federal Government got N14.490 billion, the States received N48.301 billion, Local Government Councils got N33.811billon, while derivation got N0.000 and Cost of Collection/ FIRS Refund/ Alloc. to NEDC got N7.271 billion.

The distributed Statutory Revenue of  N413.953billion received for the month was higher than the N370.411 billion received for the previous month by N43.542 billion, which the Federal government received N191.580 billon, States got N97.172 billion, LGCs got N74.915 billion, Derivation got N33.599 billion and Cost of Collection got N16.687 billion.

The communiqué also revealed that Petroleum Profit Tax (PPT), Import Duty and Value Added Tax (VAT) recorded increases, while Companies Income Tax (CIT), Oil Royalty and Excise Duty recorded decreases.

The total revenue distributable for the current month including Cost of Collection to NCS, DPR and FIRS, according to the committee is N547.309 billion.

Dr. Mahmoud Isa-Dutse

READ MORE ON NPBSNG.COM

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Naija News

Plateau begins trial of 300 suspected looters

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Looters

The Plateau State Government on Wednesday begun the prosecution of over 300 suspected looters and arsonists in the state.
They were accused of looting, criminal trespass and inciting public disturbance, among other charges.
The suspects, who had been in military and police detention after they were arrested in different parts of Jos and the Bukuru metropolis between Saturday and Sunday, were moved to the Bassa Local Government Area on Wednesday for arraignment.

The defendants were arraigned one after the other at Jebbu Bassa Area Court before several judges including Justices N S Dashe, Adar Roseline Baraje, and L B Longs as well as Lawal Sulaiman, among others.

In all the cases brought before the judges, the prosecutors from the state Ministry of Justice told the court that the accused persons committed the offences against the state and should be prosecuted according to the law.
The defence counsels, however, pleaded with the court to temper justice with mercy for the accused persons, particularly as they were first offenders.
The defence counsels also pleaded for short sentencing with an option of fine after their clients pleaded guilty to the offences.

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Customs Corner

Nigeria Customs office adamawa Under attack by hoodlums

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Suspected Hoodlums, on Monday, looted Adamawa Custom Office, the eye witness said hoodlums where seen in their numbers breaking anything that stand in their way, carting away consumable and non-consumable items.

 

residents of Lagos and Ogun state turn vigilantes  as hoodlums raids

nigeria customs checkpoint at agbara attacked by suspected hoodlums/

attack on akbc and facilities in uyo watch video

lagos task-force arrests hoodlums cultists seize motorcycles

 

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Naija News

NBC Fines Channels, AIT, Arise TV Over #EndSARS Coverage

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The National Broadcasting Commission, NBC, has sanctioned Africa Independent Television, AIT, Arise Television, and Channels Television for what it called a gross violation of the broadcast code, top of which is the use of unverifiable online video footages on social media.

The sanction, according to the Acting Director-General of the Commission, Armstrong Idachaba, will be a fine not less than two million Naira.

He warned that this will be the last warning before a heavier sanction will be introduced.

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#COVID19NIGERIA Situation Report

The #COVID19Nigeria situation report for 21st July, 2020 has been published. Our daily reports provide a summary of the epidemiological situation & response activities in Nigeria

The #COVID19Nigeria situation report for 21st July, 2020 has been published. Our daily reports provide a summary of the epidemiological situation & response activities in Nigeria

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The African Union and Africa CDC will virtually rollout the Partnership to Accelerate COVID-19 Testing (PACT) in Africa tomorrow 4 June, 2020 at 11.00 am Eastern Africa Time.

The African Union and Africa CDC will virtually rollout the Partnership to Accelerate COVID-19 Testing (PACT) in Africa tomorrow 4 June, 2020 at 11.00 am Eastern Africa Time.

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"Also found worthy of honour was Bashir Abubakar, an Asst Comptroller-General of Customs, who rejected a bribe of $412,000 per container offered him by drug traffickers seeking to bring 40 containers of Tramadol into Nigeria. A fine example of incorruptibility, worthy of emulation"

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