ORUWISE:



which faac are u talking about? faac don hold since na



Abuja - The Federation Account Allocation Committee
(FAAC) on Tuesday shared N611.77 billion to the
Federal, states and local governments for the month of
August. Among the shared money is the N10
billion refunded to the federation account by Nigerian
National Petroleum Corporation.
The Minister of State for Finance, Mr Bashir
Yuguda, who announced this shortly after the FAAC
meeting in Abuja, said that the country recorded a
N28.67 billion decline in gross federally-collected
revenue during the period.
According to Yuguda, revenue collected in August was
N601. 65 billion as against N630.33 billion realized in
July.
He attributed the drop in the August collection to a
Force Majeure declared by Shell “and a series of
shutdown of Trunk lines and pipelines at various
Terminals.”
He, however, said that payments and returns by some
blue-chip companies and increase in the receipt of
foreign Corporate Income Tax (CIT) boosted non-oil
revenue for the month.
The minister added that in spite of the revenue drop,
FAAC allocated N611.76 billion to the three tiers of
government for August, but said that the figure was
N42.82 billion lower than N654.58 billion shared in July.
He explained that N504.7billion was shared under
statutory distribution, N61.51 billion under Value Added
Tax (VAT), while N35.54 billion was allocated under the
Subsidy Reinvestment and Empowerment Programme
(SURE-P).
He added that N10 billion refunded to the federation
account by Nigerian National Petroleum Corporation
(NNPC) was also shared by the committee.
He said after deducting the cost of collecting revenue
to Federal Inland Revenue Service and the Nigerian
Customs Service, from total statutory revenue, the
Federal Government received N238.08 billion as its
share for the month.
Yuguda said that the Federal Government’s allocated
represented 52.68 per cent of the amount shared,
adding that the 36 states got N120.76 billion
representing 26.72 per cent, while N93.11 billion went
to the 774 local government councils.
Similarly, the sum of N44.85 billion was allocated to the
oil producing states based on the 13 per cent derivation
principle.
He also disclosed that the committee shared the sum of
N59.05 billion VAT revenue from which the Federal
Government received N8.85billion, N29.52 billion to the
states and N20.66 billion to councils.
Yuguda said that the committee transferred the sum
N25 billion to the Excess Crude Account to bring the
balance in the account to 4.1billion dollars.
In an interview with newsmen at the end of the meeting,
the Chairman, Forum of Finance Commissioners, Mr
Timothy Odah, called on state governments to improve
on their internal revenue generating capacities.
He said that improved revenue for the states was
necessary to enable them to cushion the impact of the
drop in statutory allocation from FAAC. (NAN)

tutudame:
And please let's be realistic,there is no how we can be paid this week.Rivers State government will only reason payment of salaries a week after FAAC meeting.Which means our salary will come around d usual first week of the new month.Pls get ur minds off this salary issue till whenever it comes.That's the only way to survive this.Stop thinking about it or u will fall sick.Please.

nakamora:
I'm smelling alert,what about you?.

gold360:
ALERT RECEIVED .

what happened to this two-words sentence ? why can't someone come here and post this good news and break this spell ? na wa oh... this 8th batch carry problem oh.

Fiafiad:
RIVERS CIVIL SERVANTS, OVER TO YOU
At a time when most States are not paying salaries, we decided to prioritize the welfare of workers in the State. As I speak, we did not only clear the huge backlog of salaries owed to civil servants, pensioners, primary health workers and the State football teams by the previous administration; we are up to date in our salary obligations to civil servants, except those who still have issues to clear with our biometric staff audit exercise.
Gov Wike to the NBA conference in Port Harcourt

dexpee4life:
One don't have to be pessimistic but we have to make up our mind that alerts will start rolling from next month after FAAC and JAAC, so as not to destroy our heart's shock absorber

Chibuking81:
All I know is that

1. FAAC meeting must hold this week.

2. Before next weekend we must receive our four months salary.

Remember that I use "must", and it's very very important.

gold360:
this is for the month of August 2014 (two years ago ).
FAAC meeting for August 2016 (where allocation for the month of July 2016 will be shared ) is yet to hold.

please who among us was directed to go and sign his or her name in the nominal roll today .? was the nominal roll only for that of August? thanks

Fiafiad:
RIVERS CIVIL SERVANTS, OVER TO YOU
At a time when most States are not paying salaries, we decided to prioritize the welfare of workers in the State. As I speak, we did not only clear the huge backlog of salaries owed to civil servants, pensioners, primary health workers and the State football teams by the previous administration; we are up to date in our salary obligations to civil servants, except those who still have issues to clear with our biometric staff audit exercise.
Gov Wike to the NBA conference in Port Harcourt

ChyChy17:
O MOTHER OF PERPETUAL HELP, COME TO OUR RESCUE, AMEN!!!

ORUWISE:


we are ask to sign on three(3) sheets of nominal roll
I don't even check which month is it

Cruize306:
I heard we'll be paid tomorrow

Sauce/Soup/Stew is not reliable though