Chibuking81:
From look of things payment will likely enter next week/next month.

you never hear say meeting end for deadlock and payments could be delayed?
I just pray they resolve this issue as soon as possible

Please, I need the contact number of rsubeb or anyone working there I can reach.

Chibuking81:
From look of things payment will likely enter next week/next month.

Lagos, rivers and akwa ibom states can pay salary without faac allocation. Our state goverment has done this a couple of times in the past even before receiving its share of the monthly faac

Vickho:
you never hear say meeting end for deadlock and payments could be delayed?
I just pray they resolve this issue as soon as possible

Ok

gold360:
Lagos, rivers and akwa ibom states can pay salary without faac allocation. Our state goverment has done this a couple of times in the past even before receiving its share of the monthly faac

.
.wike has not done it...

gold360:
Lagos, rivers and akwa ibom states can pay salary without faac allocation. Our state goverment has done this a couple of times in the past even before receiving its share of the monthly faac

RSG will rather wait for Faac allocation.

gold360:
Lagos, rivers and akwa ibom states can pay salary without faac allocation. Our state goverment has done this a couple of times in the past even before receiving its share of the monthly faac

Wike used our IGR as a collateral to the loan he took of recent from Zenith Bank. Every month, Zenith is expected to deduct at source from the IGR as part of the payment plan. And I really do not know the sum total of the wage bill for civil servants and retiree in our state. But I know it will run in the neighbourhood of Billion every month.

FAAC meeting holds today

https://punchng.com/418m-deductions-suspended-as-fg-states-meet-for-faac-today/

Hmm

The federal, states and local governments have shared N739. 965 billion as federation revenue, which was earned in the month of September.

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

The N739.965 billion total Distributable Revenue comprised distributable Statutory Revenue of N577.765 billion, distributable Value Added Tax (VAT) revenue of N159.096 billion and Exchange Gain of N3.104 billion.

Sau24:
The federal, states and local governments have shared N739. 965 billion as federation revenue, which was earned in the month of September.

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

The N739.965 billion total Distributable Revenue comprised distributable Statutory Revenue of N577.765 billion, distributable Value Added Tax (VAT) revenue of N159.096 billion and Exchange Gain of N3.104 billion.

At long last!

Zenith bank salary alert received for October

Zenith Alert received today by to 9.pm. Unbelieveable.

endy83:
Zenith Alert received today by to 9.pm. Unbelieveable.

Wow! 9:pm? Then the rest of us will receive on Monday.

Surely it will come

Sau24:
The federal, states and local governments have shared N739. 965 billion as federation revenue, which was earned in the month of September.

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

The N739.965 billion total Distributable Revenue comprised distributable Statutory Revenue of N577.765 billion, distributable Value Added Tax (VAT) revenue of N159.096 billion and Exchange Gain of N3.104 billion.

where's the source for this news?

999monikers:
where's the source for this news?

https://www.vanguardngr.com/2021/10/fg-states-lgs-share-n740bn-revenue/

Or

https://www.premiumtimesng.com/news/headlines/492262-fg-states-lgs-share-n739-96-billion-for-september.html

It was shared on 28th October 2021. All will be paid within this new week.

endy83:
Zenith Alert received today by to 9.pm. Unbelieveable.

no other bank Don pay till now?

gold360:
no other bank Don pay till now?

My dear, it's too early nah! Definitely, some Bank's will pay today.

gold360:
no other bank Don pay till now?

Using IGR other banks will likely pay between today and tomorrow. Then using Federal allocation, 7days after FAAC (that was held on 28th October 2021) falls on Thursday 4th of November 2021 ( I.e 29,30,31,1,2,3,4).

So all will be paid within this week.

[quote author=Chibuking81 post=107237816]
Using IGR other banks will likely pay between today and tomorrow. Then using Federal allocation, 7days after FAAC (that was held on 28th October 2021) falls on Thursday 4th of November 2021 ( I.e 29,30,31,1,2,3,4).

So all will be paid within this week.[/quote


Did you not read that Zenith Bank has paid after the FAAC meeting?

Ecobank what is holding you to release payment, is almost 12noon

roynature:
Ecobank what is holding you to release payment, is almost 12noon

Ecobank will always wait till it's evening before they credit your account. I tire for them.

But apart from Zenith, no other bank has paid.

gold360:
no other bank Don pay till now?

@dmercy141983
Zenith bank payment was accommodated in the post. The response was in continuation of the quoted post. "No other bank ", showing that a bank has paid.

Zenith bank payment of last Friday will likely come from either the remaining of last month balance in their position or from IGR. That of FAAC is usually matured within 3 days of receiving, in addition of 1/2 days before federal remitting to different state also including Saturday/Sunday in between, total ( 3+2+2) 6/7 days after FAAC. ( it will amount to 7 days if the federal remit to states two days after the FAAC)

FAAC was held on Thursday 28 October, different state will get theirs by Friday 29th, and 3 days maturity date will start counting from Friday 29th, (excluding 30th Saturday and 31st Sunday being nonworking days) then Monday 1st and Tuesday 2nd, (at closing of the work on Tuesday the money will be matured for payment), the next day being Wednesday 3rd November 2021 making it the sixth days banks will start payment.

NB
State can either use IGR or money from FAAC for their payment. Most state in Nigeria including Rivers state uses that of FAAC for the payment of their wage bill.

Chibuking81:


@dmercy141983
Zenith bank payment was accommodated in the post. The response was in continuation of the quoted post. "No other bank ", showing that a bank has paid.

Zenith bank payment of last Friday will likely come from either the remaining of last month balance in their position or from IGR. That of FAAC is usually matured within 3 days of receiving, in addition of 1/2 days before federal remitting to different state also including Saturday/Sunday in between, total ( 3+2+2) 6/7 days after FAAC. ( it will amount to 7 days if the federal remit to states two days after the FAAC)

FAAC was held on Thursday 28 October, different state will get theirs by Friday 29th, and 3 days maturity date will start counting from Friday 29th, (excluding 30th Saturday and 31st Sunday being nonworking days) then Monday 1st and Tuesday 2nd, (at closing of the work on Tuesday the money will be matured for payment), the next day being Wednesday 3rd November 2021 making it the sixth days banks will start payment.

NB
State can either use IGR or money from FAAC for their payment. Most state in Nigeria including Rivers state uses that of FAAC for the payment of their wage bill.

Once Zenith Bank credits accounts for salary, it definitely means that payment of salaries has commenced. Zenith Bank has the contract of payment of Rivers State civil servants salaries but also subletted it to other banks because of the large number of civil servants and the time/man-hours required to effect payment as quick as possible without disrupting their normal daily banking routine. Let's exercise patience. Today is the first working day of this week and most organizations including banks have lots of work to attend to.

Ecobank just credited me now with October salary.

Chibuking81:


@dmercy141983
Zenith bank payment was accommodated in the post. The response was in continuation of the quoted post. "No other bank ", showing that a bank has paid.

Zenith bank payment of last Friday will likely come from either the remaining of last month balance in their position or from IGR. That of FAAC is usually matured within 3 days of receiving, in addition of 1/2 days before federal remitting to different state also including Saturday/Sunday in between, total ( 3+2+2) 6/7 days after FAAC. ( it will amount to 7 days if the federal remit to states two days after the FAAC)

FAAC was held on Thursday 28 October, different state will get theirs by Friday 29th, and 3 days maturity date will start counting from Friday 29th, (excluding 30th Saturday and 31st Sunday being nonworking days) then Monday 1st and Tuesday 2nd, (at closing of the work on Tuesday the money will be matured for payment), the next day being Wednesday 3rd November 2021 making it the sixth days banks will start payment.

NB
State can either use IGR or money from FAAC for their payment. Most state in Nigeria including Rivers state uses that of FAAC for the payment of their wage bill.

My bro abeg leave this yóur analysis. Salaries will be paid today. Once the floodgates is open

edin:



My bro abeg leave this yóur analysis. Salaries will be paid today. Once the floodgates is open

UBA has done the needful...

FCMB alert received

Stanbic IBTC Bank credited.