Purity001:
Zenith paid.

confirmed

Gensun:
FAAC Disburses N1.123tn to Federal, State, and Local Governments for March 2024
Naija247newsApr 19, 2024 10:25 PM
The Federation Account Allocation Committee (FAAC) has distributed a total of N1.123tn to the federal, state, and local governments for March 2024, sourced from a gross revenue of N1.867tn, to support various government initiatives.

In a statement signed by Mohammed Manga, the Director of Information and Public Relations at the Ministry of Finance, this critical allocation is aimed at providing necessary funds for developmental projects and essential services across Nigeria’s governmental tiers.

The monthly disbursement by FAAC plays a pivotal role in driving progress and enabling governmental bodies at different levels to fulfill their duties effectively.

During the meeting chaired by the Accountant General of the Federation, Mrs. Oluwatoyin Madein, the allocation breakdown was detailed as follows: the Federal Government received N345.890bn, states received N398.689bn, local governments received N288.688bn, and oil-producing states received N90.224bn as part of the 13% mineral revenue derivation.

The statement also highlighted an increase in Value Added Tax (VAT) revenue for March 2024, reaching N549.698bn—an N89.210bn rise from the previous month, reflecting economic growth and improved tax compliance.

However, the Gross Statutory Revenue for March stood at N1.017tn, lower than February’s N1.192tn by N175.212bn, attributed to reductions in excise duty, oil royalty, petroleum profit tax, customs external tariff levies, and electronic money transfer levy.

As of April 2024, the Excess Crude Account maintains a balance of $473,754.57, securing reserves for future financial stability.

FAAC’s strategic allocation of funds is expected to stimulate economic activities nationwide and bolster government efforts in enhancing infrastructure, healthcare, education, and other critical sector

by God's grace we should expect palliative this month

sam1980000:
Can anyone confirm if Rivers State University (RUST) staff have been paid the 35K palliative? Some one said they started receiving it last Thursday immediately after the March salaries

I heard same

Wage. Award Payment.
Any update?

I heard some teachers have started receiving

Wage. Award Payment.
Any update?

dear friends . I am a shareholder of zenith and UBA but yet to receive share dividend this year . Please how do I go about it ? Thanks

Mfunkynation:

Yes oooo
they started paying it donkey years ago!

I have not received dear .
How do I go about it?

Good evening my people . Please has zenith and UBA banks started paying dividends to their customers ?
Thank you

Its simple . Marketers can come together and pull together money that can afford this quantity

Fcmb landed

First bank just arrived

Fidelity has dropped

sam1980000:
Banks better not do any book balancing today. Let them prioritise salaries payment

relax . Eco just did the needful

There is no correlation between the weight of one unit of currency in conversions and the strength of the economy. The weight of one unit of currency is indirectly decided by the government of that country based on how it wants to deal with present and past inflation and money supply.

this is why one Jordanian Dinar is worth nearly two American dollars and is worth more than 32,800 Vietnamese Dong, but Jordan’s economy is less than 1/5 the GDP of Vietnam.

The reason that Jordan is a poor country is because it has a GDP of roughly $38 billion USD and a per capita GDP of $4,087 USD. These are low values.
What males a country to be developed is when it engaged in production rather than the consumption which Nigeria is known for.
DEAL WITH THE TRUTH

I painfully took my time to read your submissions and what I can say is all of us are hypocrites . We want the dollar to come down but we prefer to use airtel and mtn to glo. Toyota cars to innosin. Calvin Klein designers clothes from Europe over our own agbada and bubba designs . We even prefer toothpicks from China over ours and we blame the government daily for our own stupidity .

edin:

yes. I saw it. a friend using mayfresh was paid this morning.
it means there is hope today.

there is hope for teachers whose banks DECIDE TO PAY

Teska6:
The joke should stop b4 someone will develop heart attack.


I come in peace.

he said the truth

Some banks like mayfresh received today

ikem50:


English is the problem 😂😂😂
Just wish you will understand what I was trying to say.
Thanks
😂😂😂😂

lol

Other banks nkor.?

Confirmed . Zenith has paid with about 2k deduction

Purity001:
Zenith don land

please everybody should ignore this . This guy uses stanbic.
I don't know why some people will choose to joke with everything

Purity001:
With deductions.

bro be serious na

Purity001:
Zenith don land

any additional money?

GamaG:
IF IT'S TRUE THAT FEDERAL GOVT HAVE AGREED 155K AS MINIMUM WAGE. CALCULATORS OVER TO YOU. HOW MUCH WILL BE OUR NEW SALARY?

its just a rumour

dmercy141983:



This 2pm zenith has not credited

it is well bro. Let us be hopeful

Purity001:
Sim pattern of payment is 30-31st

30 and 31 are Saturday and Sunday . So payment has to be between today and tomorrow as Friday is public holiday

morganflezy:

It can only be confirmed from those working in ministry of finance if there's hope for it this month. Anybody that knows someone working there in the right office can also help to confirm

smiles . In a matter of hours . Zenith users will be credited . This is the best way to confirm

Normally alerts suppose begin enter by tomorrow . Considering Friday is public holiday

nakamora:



FAAC shared #2.07trillion on Monday. Rivers State got about #28billion.

Amen . I strongly believe our loving governor will put a smile on our faces via palliative payment this month . Amen .
May God bless Sim

gold360:


March 19, 2024

Subsidy removal, forex liberalization drive FAAC disbursement up 23.9% to N2.1trn
Solid VPS for Forex trading
By Mariam Eko

At the backdrop of subsidy removal and liberalization of the foreign exchange market, the Federation Account Allocation Committee, FAAC, has recorded further increase in distributable revenue with February 2024 disbursement of N2.07 trillion to the three tiers of government.

The figure represents 23.9 percent rise from N1.67 trillion distributed in January 2024.


The FAAC accrual has been on the rise since second quarter of 2023 after the implementation of the twin policy reform of the President Bola Tinubu administration.

The latest National Bureau of Statistics, NBS, report on FAAC stated that the amount disbursed comprised of N1.15 trillion recorded from the Statutory Account, N479.03 billion from Exchange Gain, N16.59 million from Electronic Money Transfer Levy, EMTL and N420.73 billion from Value Added Tax.

It further stated: “The allocations to the three tiers of government for November 2023 were: Federal Government with a total of N407.27 billion, States with a total of N379.41 billion, and Local Governments with a total of N278.04 billion. The sum of N85.10 billion was shared among the oil-producing states from the 13% derivation fund”.

“The revenue generating agencies comprising Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS), and Nigerian Upstream Petroleum Regulatory Commission (NUPRC) received N16.27 billion, N43.35 billion, and N18.68 billion respectively, as cost of revenue collections” the report added.

Further breakdown of revenue allocation to the Federal Government of Nigeria (FGN) revealed that N279.06 billion was disbursed to the FGN consolidated revenue account, N6.57 billion was received as a share of derivation and ecology, N3.29 billion as stabilization fund, N11.04 billion for the development of natural resources, and N10.37 billion to the Federal Capital Territory (FCT)- Abuja.


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Comments expressed here do not reflect the opinions of Vanguard newspapers or any employee thereof.

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good news .

March 19, 2024

Subsidy removal, forex liberalization drive FAAC disbursement up 23.9% to N2.1trn
Solid VPS for Forex trading
By Mariam Eko

At the backdrop of subsidy removal and liberalization of the foreign exchange market, the Federation Account Allocation Committee, FAAC, has recorded further increase in distributable revenue with February 2024 disbursement of N2.07 trillion to the three tiers of government.

The figure represents 23.9 percent rise from N1.67 trillion distributed in January 2024.


The FAAC accrual has been on the rise since second quarter of 2023 after the implementation of the twin policy reform of the President Bola Tinubu administration.

The latest National Bureau of Statistics, NBS, report on FAAC stated that the amount disbursed comprised of N1.15 trillion recorded from the Statutory Account, N479.03 billion from Exchange Gain, N16.59 million from Electronic Money Transfer Levy, EMTL and N420.73 billion from Value Added Tax.

It further stated: “The allocations to the three tiers of government for November 2023 were: Federal Government with a total of N407.27 billion, States with a total of N379.41 billion, and Local Governments with a total of N278.04 billion. The sum of N85.10 billion was shared among the oil-producing states from the 13% derivation fund”.

“The revenue generating agencies comprising Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS), and Nigerian Upstream Petroleum Regulatory Commission (NUPRC) received N16.27 billion, N43.35 billion, and N18.68 billion respectively, as cost of revenue collections” the report added.

Further breakdown of revenue allocation to the Federal Government of Nigeria (FGN) revealed that N279.06 billion was disbursed to the FGN consolidated revenue account, N6.57 billion was received as a share of derivation and ecology, N3.29 billion as stabilization fund, N11.04 billion for the development of natural resources, and N10.37 billion to the Federal Capital Territory (FCT)- Abuja.


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23-year-old secondary school leaver arrested with two guns in Edo
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Disclaimer
Comments expressed here do not reflect the opinions of Vanguard newspapers or any employee thereof.

ABOUT US
ADVERTISE WITH US
CONTACT US
PRIVACY POLICY
ALLURE
AVIATION
BUSINESS
COLUMNS
CRIME ALERT
DISCUSSION
EDITORIAL
EDUCATION
E-EDITIONS
ENTERTAINMENT
ENVIRONMENT
FEATURES
FOREIGN
HEALTH
HOMES & PROPERTY
HUMAN ANGLE
INSURANCE AND YOU
INTERVIEWS
LABOUR
LAW & HUMAN RIGHTS
METRO
MOTORING
POLITICS
RELATIONSHIPS
SPECIAL REPORT
SPORTS
SWEET CRUDE
TECHNOLOGY
THE ARTS
CARTOONS
TRAVEL & TOURISM
VIDEOS
VIEWPOINT
WOMAN’S OWN
WORSHIP
© 2024 Vanguard Media Limited, Nigeria