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Stats: 1,928,220 members, 3,970,664 topics. Date: Friday, 15 December 2017 at 11:25 AM
|Re: Rivers State Teachers Recruitment 2012 by patopara(m): 2:49pm On Dec 07|
who is talking about biometrics here? It is now called scirtemoib
|Re: Rivers State Teachers Recruitment 2012 by temple4real(m): 2:50pm On Dec 07|
Governors’ anger may ruin today’s FAAC meeting over NNPC remittances
Posted by: admin in Banking/Investments
December 7, 2017
Fresh details emerged on Wednesday evening indicating that many of the states’ governors and their Commissioners’ of Finance attending today’s (Thursday) Federation Accounts Allocation Committee (FAAC) meeting, may be worried if the Nigerian National Petroleum Corporation (NNPC) fails to have done the needful which is remitting every kobo to the federation Account for sharing today.
Business Hilights had two weeks ago reported that the last meeting was postponed as a result of discrepancies in revenue presented by the Corporation.
Chairman, Forum of Finance Commissioners of FAAC, Mr. Mahmoud Yunusa, confirmed this to our correspondent on Wednesday, saying all we need to hear on Thursday is that the reconciliation of the revenue had been done and the money is ready for sharing as usual.
The key agenda of today’s meeting is very simple; to consider and approve revenue for the month of October and immediate disbursement.
However, there are earlier signals that the technical committee of FAAC had been meeting with officials of the NNPC to ensure that the figures were reconciled to enable the three tiers of government approve the account before allocation of revenue could be made.
It would be recalled that FAAC is chaired by the Minister of Finance, Mrs. Kemi Adeosun, with the Accountant General of the Federation, Alhaji Ahmed Idris; commissioners for finance of the 36 states; and representatives of revenue-generating agencies such as the Federal Inland Revenue Service, Nigeria Customs Service and the NNPC, among others as members.
|Re: Rivers State Teachers Recruitment 2012 by Caringpro(f): 3:31pm On Dec 07|
Thank God Zenith bank jst paid
Mr project you dey try ooo. I can now flex my Xmas
1 Like 1 Share
|Re: Rivers State Teachers Recruitment 2012 by pee30: 4:04pm On Dec 07|
Are you sure
|Re: Rivers State Teachers Recruitment 2012 by sam4uche(m): 4:14pm On Dec 07|
Caringpro say the truth, don't use God to lie I beg you.
|Re: Rivers State Teachers Recruitment 2012 by sam4uche(m): 4:17pm On Dec 07|
Which one is scirtemoib kwa?
|Re: Rivers State Teachers Recruitment 2012 by CHYSPARKY(f): 4:27pm On Dec 07|
Caringpro:Hope this is not a joke. My friend using Zenith is yet to get the alert.
|Re: Rivers State Teachers Recruitment 2012 by patopara(m): 4:29pm On Dec 07|
scirtemoib is biometrics turned upside.
|Re: Rivers State Teachers Recruitment 2012 by mod17(f): 4:40pm On Dec 07|
Caringpro:I just asked a friend who uses Zenith and she said nothing like that. So what's going on?
|Re: Rivers State Teachers Recruitment 2012 by GamaG(m): 4:46pm On Dec 07|
Caringpro:guy, confirm your statement
|Re: Rivers State Teachers Recruitment 2012 by gold360(m): 4:52pm On Dec 07|
Caringpro:she meant it as a sarcasm
|Re: Rivers State Teachers Recruitment 2012 by gold360(m): 4:54pm On Dec 07|
sam4uche:biometrics spelt backwards
|Re: Rivers State Teachers Recruitment 2012 by gold360(m): 5:04pm On Dec 07|
Annie baby, I sight you oh,
Walahi this long wait wahala big pass boko haram, ISIS and the kardasians combined
|Re: Rivers State Teachers Recruitment 2012 by sam4uche(m): 5:06pm On Dec 07|
My brothers, the biometric is 100% truth from the office of head of service.time table may be release next week.
|Re: Rivers State Teachers Recruitment 2012 by marcodura: 6:32pm On Dec 07|
|Re: Rivers State Teachers Recruitment 2012 by pee30: 9:32pm On Dec 07|
FAAC: States to be involved in revenue collation with NNPC
Posted By: Nduka Chiejina On: December 7, 2017 In:
State governments have resolved to be fully involved in tracking and collating figures the Nigerian National Petroleum Corporation (NNPC) presents to Federation Account Allocation Committee (FAAC).
Addressing journalists at the end of the October 2017 FAAC meeting in Abuja which held several weeks late Thursday Mr. Mahmoud Yunusa, Chairman of commissioners forum said they “discovered discrepancies in the October 2017 figures of the FAAC Papers submitted by NNPC and demanded for the genuine figures. Going forward, we will engage a consultant to work with NNPC to collate figures and report back to states on the true figures.”
Based on the demands of the state governments for proper figures to be disclosed by the NNPC, Mahmoud Yunusa said “there was a slight inflow in the amount that accrued for sharing at the end of the day.”
The states, he said, decided to take what was handed out to them yesterday so that they “can go manage to go home with what we got today so that we can pay salaries.”
Speaking further on the reason for the suspension of the meeting last week, Yunusa said “there were some slight errors and the gaps were bridged but going forward, stated will be fully involved to ensure that it does not repeat itself again. NNPC was invited to the last National Economic Council (NEC) to meet with the state governors and going forward, NNPC will be more careful.”
At the end of Saturday’s meeting, Permanent Secretary of the federal ministry of finance Dr. Mahmoud Isa Dutse said a total of N532.758 billion was shared among the three tiers of government with N443.045 billion as statutory disbursements.
Under this tranche, the federal government got N205.700 billion, state governments got N104.334 billion, local governments received N80.437 billion, N40.847 billion was shared as 13% derivation proceeds to went to the oil mineral producing states while N11.726 was set aside as cost of collection to revenue generating agencies and Federal Inland Revenue Services (FIRS) refund.
From Value Added Tax (VAT) disbursements, Dr Dutse, stated that a total of N89.713 billion was shared with the federal government pocketing N12.919 billion, state governments went home with N43.062 billion, local governments were given N30.143 billion while N3.589 billion was set aside for cost of collection and FIRS refund.
Dr Isa Dutse announced that funds in the Excess Crude Account (ECA) still stands at $2.308 billion.
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Tags: Federation Account Allocation Committee (FAAC) Mr. Mahmoud Yunusa Nigerian National Petroleum Corporation (NNPC)
FAAC: States to be involved in revenue collation with NNPC
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|Re: Rivers State Teachers Recruitment 2012 by GamaG(m): 9:47pm On Dec 07|
Caringpro:Guy, what kind of insensitivity did you just display here? yours is worse than that of governor Wike.
3 Likes 1 Share
|Re: Rivers State Teachers Recruitment 2012 by temple4real(m): 10:18pm On Dec 07|
The federal, states, local governments in October shared N532.7 billion which shows a decline of N25.3 billion when compared to what they shared in September.
The Permanent Secretary of the Ministry, Mr Mahmoud Isa-Dutse said this on Thursday in Abuja while briefing newsmen on the outcome of the monthly Federal Account Allocation Committee (FAAC).
Isa-Dutse attributed the decline to the decrease in revenue from export sales of 42.94 million dollars due to a decrease in crude oil production by 1.25 million barrels.
He said that even though, the average price of crude oil increase from 46.29 dollars per barrel to 48.66 dollars per barrel, it was not enough to make up for the loss in production.
“Some of the issues that impacted negatively on crude oil production were attributed to ageing facilities which resulted in shut-ins and shut-downs of pipelines at various terminals for repairs and maintenance.
“Petroleum Profit Tax increased significantly while Import Duty and Value Added Tax improved only significantly.
“Companies Income Tax and Oil Royalty recorded slight decreases in the month under review,” he said.
In summary, Isa-Dutse said after deductions as cost of collection by FIRS, Customs and DPR, the Federal Government received N205.7 billion, representing 52.68 per cent; states and N104.3 billion, representing 26.72 per cent.
The local governments, he said, received N80.4 billion, amounting to 20.60 per cent of the amount distributed.
Isa-Dutse announced that N40.8 billion representing 13 per cent derivation revenue was also shared among the oil producing states.
He said that the country generated N317.2 billion as mineral revenue and N124.4 billion as non-mineral revenue.
He said this showed an increase of N41.6 billion from what the country generated as mineral revenue and a decrease of N23.5 billion in non-mineral revenue from what was generated in the month of September.
|Re: Rivers State Teachers Recruitment 2012 by temple4real(m): 10:20pm On Dec 07|
PENGASSAN has issued a seven-day ultimatum to the Federal Government to address injustice and lawlessness in the oil and gas sector companies or face a nationwide strike from December 18.
The General Secretary, Petroleum and Natural Gas Senior Staff Association of Nigeria, Mr Lumumba Okugbawa, gave the ultimatum in a statement on Thursday in Abuja.
Okugbawa said this was imperative in order to address anti-labour issues and lawlessness by some indigenous oil and gas companies and marginal field operators by relevant agencies of government.
He said if this was not addressed properly, it would culminate in the shutting down of all oil and gas installations, including disruptions to fuel supply and distribution across the country.
The unionist said the anti-labour practice includes the termination of employment of any worker who indicated the willingness to belong to the union.
“Those that are threatened and compelled to disown the union are then treated as slave workers within their own country.
“The case of Neconde Energy Ltd (of Nestoil Group of companies) is particularly worrisome as the issue of dignity in labour and infringement on workers’ rights to Freedom of Association is foreign to them.
“This has led to the mass sack of workers that joined the union and dehumanisation of some in total disregard to rule of engagement and the laws of the land.
“The actions of companies such as Neconde in the mass sack of Nigerian workers contribute in no small measure to the unending militancy in the Niger Delta.’’
He said Neconde had not only conducted itself as being above the provisions of extant laws and regulations guiding the operations of oil and gas companies in Nigeria, but also boasted that no government agency would call it to order.
“Having explored all options without getting the necessary understanding, and an apparent failure of relevant authorities of government to call to order these recalcitrant organisations especially Neconde, we are giving the Federal Government and its relevant agencies seven-days’ notice to embark on nationwide strike effective Dec. 18.
“If the government fails to direct the management of Neconde and other companies to recall our sacked members, as the only option to address this injustice and lawlessness.
“PENGASSAN appeals to all Nigerians to show understanding and to use this window to stockpile adequate quantity of Premium Motor Spirit (PMS) and other petroleum products that will last them during the period as this strike will be indefinite.”
|Re: Rivers State Teachers Recruitment 2012 by dmercy141983(m): 11:16pm On Dec 07|
That tin wey u dey find u go get am plenty now.... Thunder fire u for dia wey u dey for messing wit people's feeling. U dey mad well well.
|Re: Rivers State Teachers Recruitment 2012 by Chibuking81(m): 9:47am On Dec 08|
FAAC Shares N532bn as Revenue to FG, States, LGCS for October 2017
FAAC Shares N532bn as Revenue to FG, States, LGCS for October 2017
The sum of N532.758 has been shared as Federation Account Allocation among the Federal, States and Local Government Councils for the month of October, 2017.
The communiqué issued by the sub -Committee of Federation Accounts Allocation Committee (FAAC) of the Office of the Accountant-General of the Federation, at the end of the meeting held today (December 7, 2017) in Abuja, indicated that the gross statutory revenue received for the month is N443.045 billion and is higher than the N423.961 billion received in the previous month by N19.084 billion.
The shared amount comprise the Month’s Statutory distributable revenue of N443.045 billion and the Value Added Tax of N89.713 billion, making up N532.758 billion.
Accordingly, from Net Statutory Allocation, the Federal Government received N205.700 billion representing (52.68%); States received N104.334 billion (26.72%); Local Government Councils received N80.437 billion representing (20.60%); while the Oil Producing States received N40.847 billion as 13% derivation revenue. Also, Nigeria Custom Service, Department for Petroleum Resources, and FIRS got the total sum of N11.726 billion as cost of collection.
Furthermore, from the Revenue available from the Value Added Tax (VAT), Federal Government received N12.919 billion (15%); States received N43.062 billion (50%) while the Local Government Councils received N30.143 billion (35%).
The Communique further explained that there was an increase in the average price of crude oil from $46.29 to $48.66 per barrel and a decrease in export sales of $42.94 million due to decrease in oil production by 1.25 million barrels .It further stated that other issues which negatively affected the Crude oil production were attributable to ageing facilities which resulted in shut-in and shut-down of pipelines for maintenance and for repairs . Furthermore, significant increase was recoreded in Petroleum Profit Tax while Import and Excise Duties and Value Added Tax recorded witnessed slight improvements. However companies income tax (CIT) and Oil Royalty recorded slight decreases in the month under review.
Kenechukwu Offie (Mrs)
Director Information, OAGF
|Re: Rivers State Teachers Recruitment 2012 by TheWatchDog(m): 10:03am On Dec 08|
SOMEONE HAS ALREADY POSTED THE DETAILS OF THE FAAC MEETINGS AND U STILL COME HERE TO POST ANOTHER TO OCCUPY SPACE. NOTICE ME IS NOT GOOD OO
|Re: Rivers State Teachers Recruitment 2012 by Purity001: 10:05am On Dec 08|
That means December salary will be paid next year.
|Re: Rivers State Teachers Recruitment 2012 by ChyChy17: 12:36pm On Dec 08|
|Re: Rivers State Teachers Recruitment 2012 by laurelbae(f): 3:13pm On Dec 08|
Jesus am scared o, why now.
Am so rich now, how will I cope.
festivity is around the corner
God help us.
I hope they pay o.
|Re: Rivers State Teachers Recruitment 2012 by gold360(m): 3:29pm On Dec 08|
Blood of Obadiah!
See time oh, like play like play na so today and this week wan use pass us by?
|Re: Rivers State Teachers Recruitment 2012 by laurelbae(f): 3:51pm On Dec 08|
gold360:.. My dear Na God hand we dey
|Re: Rivers State Teachers Recruitment 2012 by ChyChy17: 7:57pm On Dec 08|
|Re: Rivers State Teachers Recruitment 2012 by onlyhandsome202: 7:09am On Dec 09|
biometrics 100% loading..... only God can c us tru.
|Re: Rivers State Teachers Recruitment 2012 by gold360(m): 8:00am On Dec 09|
onlyhandsome202:I just asked a reliable source, he said nothing like that, but there may be one next year, if you have the timetable for the biometric exercise please share with us otherwise stop coming here to work us all up ' biko this isn't the time or SEASON... lols
3 Likes 1 Share
|Re: Rivers State Teachers Recruitment 2012 by TheWatchDog(m): 10:03am On Dec 09|
I heard that Rivers money is being spent on some convention somewhere in Abuja to buy delegates votes. About #15 billion is to be spent on this SECONDUS PROJECT. We may not see December salary oo the way things are going.
|Re: Rivers State Teachers Recruitment 2012 by barika2011(m): 10:07am On Dec 09|
Secondus has to loose ooo...
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