₦airaland Forum

https://www.lasu-info.com/2020/05/rivers-state-schools-resumption-date.html
Press Release
The Ministry of Education wishes to announce that, with the approval of His Excellency Governor Nyesom Wike, the school calendar published in August, 2020 stands. Accordingly, both public and private schools in the State are hereby reminded that schools will resume on 4th January, 2021 for normal academic activities.

Schools are to maintain all COVID-19 Protocols, including the wearing of face masks, use of hand sanitizers and staggered classes/ morning and afternoon sessions in order to avoid overcrowding.
The Ministry wishes all pupils, students, parents and guardians the very best of the year.

SIGNED:
Sir Chidi Adiele
Permanent Secretary
Ministry of Education
2nd January, 2022.
Educational News

https://dailypost.ng/2021/11/17/faac-how-fg-states-shared-in-n671-9bn-in-october/

NEWSFAAC: How FG, states shared in N671.9bn in OctoberPublished on November 17, 2021 By Fikayo Olowolagba

The Federal Government, States and Local Government Councils (LGCs) on Wednesday, shared N671.910 billion as Federation Accounts Allocation Committee (FAAC) for October.

This was made known in a statement by Mr Oshundun Olajide, the Acting Director, Information, Ministry of Finance, Budget and National Planning.

The allocation was shared at the FAAC meeting in Lagos at the end of the National Council on Finance and Economic Development (NACOFED) conference.

Olajide explained that from the said amount, inclusive of Value Added Tax (VAT), augmentations, exchange gain and non-oil mineral revenue, the Federal Government received N284.292 billion, states N209.838 billion and LGCs N156.282 billion.

Oil producing states received N21.498 billion as 13 per cent derivation of mineral revenue.

According to the communique issued by FAAC at the end of the meeting, the Gross Revenue available from the VAT for the month under review was N166.284 billion as against N170.850 billion distributed in September, resulting in a decrease of N4.566 billion.

“The distribution is as follows; Federal Government got N23.227 billion, states received N77.422 billion, LGCs got N54.195 billion, transfers and refunds received N4.789 billion and cost of collection got N6.651 billion.

“The distributed statutory revenue of N407.864 billion received for the month was lower than the N692.283 billion received for the previous month by N284.419 billion.

“Of this, the Federal Government received N180.551 billion, states got N91.578 billion, LGCs got N70.603 billion, derivation (13 per cent mineral revenue) got N21.118 billion, cost of collection received N17.940 billion while transfers and refunds got N26.075 billion,” the communique read.

Also augmentations of N100 billion by the Federal Government received N52.680 billion, states got N26.720 billion, LGCs N20.6 billion.
It added that N50 billion from non-oil revenue was also shared as follows: Federal Government received N26.340 billion, states got N13.360 billion and LGCs N10.3 billion.

Meanwhile, Companies Income Tax (CIT), Petroleum Profit Tax (PPT), and Oil and Gas Royalties decreased considerably, while there was a slight decline in VAT and Import and Excise Duty, increased marginally.

The communique, however, revealed that total revenue distributable for the current month inclusive of gross statutory revenue of N363.849 billion, VAT of N154.849 billion, and exchange gain of N3.217 billion.

“Augmentations of N100 billion and N50 billion from non-oil mineral revenue bringing the total distributable revenue to N671.910 billion,” it stated.

However, the balance of Excess Crude Account (ECA) as stands at 60.860 million dollars

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.

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.

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.

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

https://www.thisdaylive.com/index.php/2021/10/25/faac-meeting-deadlocked-as-states-lgs-protest-418m-paris-refund-deductions/

FAAC Meeting Deadlocked as States, LGs Protest $418m Paris Refund Deductions
editorOctober 25, 2021 7:00 Am
*Governors insist pending cases must first be decided

Emmanuel Addeh in Abuja

A meeting of the Federation Account Allocation Committee (FAAC) for October 2021, held last Friday, was inconclusive as states and local governments resisted the commencement of deductions in relation to the $418 million judgement debt for “consultancy services,” with regard to the Paris Club Loans refund.

In a letter obtained by THISDAY yesterday, the Nigeria Governors’ Forum (NGF) objected to the execution of the judgement until full determination of on-going litigation on the subject matter. The governors insisted that the deductions were done without their knowledge.

Chairman, Forum of Commissioners for Finance of Nigeria, which represents state governments at the FAAC meeting, Mr. David Ilofu, signed the document.

Owing to the development, the monthly gathering was postponed to allow all pending issues to be sorted out.

The letter said, “The FAAC meeting for the month of October, 2021, held on Friday 22nd October 2021, to distribute revenue that has accrued to the federation (federal, state and local governments) was inconclusive.

“The October 2021 meeting, which was chaired by the permanent secretary on behalf of the honourable minister, received revenue performance reports from the revenue-generating agencies (Nigerian National Petroleum Corporation, Federal Inland Revenue Service, Department of Petroleum Resources, Nigeria Custom Service, and Ministry of Mines and Mineral Development).

“These reports by the agencies and the revenue inflow analysis by the office of the Accountant General of the Federation for the month of October 2021 could not be adopted by the committee.

“Members declined approval after consideration of the reports for the disbursement of the available revenue because of deduction on funds belonging to the local government councils in favour of some consultants for a $418,000,000.00 judgement debt for consultancy services with respect to Paris Club loans refund.”

The letter stated that based on available information, the deduction would continue for 10 years or 120 months, contrary to the provisions of Section 162 of the Constitution of the Federal Republic of Nigeria 1999, as amended.

The finance commissioners noted that NGF had objected to the execution of the judgement until full determination of current litigation on the subject matter.

kayusely70:
Any news about faac allocation meeting yet?

No news yet.
Except if they have done it secretly/ off coverage.

TheWatchDog:
FAAC have shared allocation but it was done off camera on governors directives.

That's good, hope arises for payment within this month if that is true. Media should also carry it, because it's not yet in any media for now.

Purity001:
No faac meeting yet.

endy83:
Stop misleading people for they have shared allocation

@ endy83, news of FAAC sharing is important to us, but no news available online to show that this month FAAC has taken place. The last news on FAAC for this year still that of August revenue shared in September 2021. The news of September 2021 revenue that will be share in October 2021 this month is not yet available online.

Once I sight the news of this month FAAC, I will post it together with the link.

endy83:
Fg,state and lga shared 639.901 billion yesterday,source guardian newspaper.

endy83:
It is 2021,remember august faac is for september,september is for october and october will be for november take note,so faac share allocation yesterday.

https://guardian.ng/news/faac-fg-states-lgcs-share-n639-9bn-for-september/
This was in 2020. It is 2020 news, we are in 2021. Click on the link to check the date and year of newspaper publication.
No FAAC news yet.

Sau24:
Print

FAAC shares N760b to FG, states, LGs
By Emma Ujah
The Federation Accounts Allocation Committee (FAAC) has shared a total of N696.965 billion August 2021 Federation Account Revenue to the Federal, States and Local Governments.

This was contained in a communiqué issued at the end of the virtual meeting of the Federation Account Allocation Committee (FAAC) for September 2021, held Wednesday.

The N696.965 billion total distributable revenue comprised distributable statutory revenue of N477.504 billion; distributable Value Added Tax (VAT) revenue of N166.228 billion, Exchange Gain of N2.830 billion, Excess Bank Charges Recovered of N0.403 billion and N50 billion from Non-Oil revenue.

This is of last month not this month check the date of the newspaper publication using this link https://www.vanguardngr.com/2021/08/faac-shares-n760b-to-fg-states-lgs/

endy83:
Fg,state and lga shared 639.901 billion yesterday,source guardian newspaper.

In 2020 not 2021.
No news on October 2021 FAAC meeting yet.

TurnNewLeaf:
omo nothing land oh.
I doubt I'll receive alert tomorrow being October 1st cos it's public holidayo

Hopefully between Monday/Tuesday all payment will be made, since some has received last Thursday.

Chibuking81:
https://www.vanguardngr.com/2021/09/faac-shares-n697-b/

FAAC shares N697bn
September 22, 2021

By Emma Ujah

Expect payment next week Wednesday/Thursday 29th/30th September, 2021 being 7/8 days after FAAC.

https://www.vanguardngr.com/2021/09/faac-shares-n697-b/

FAAC shares N697bn
September 22, 2021

By Emma Ujah

The Federation Accounts Allocation Committee (FAAC) has shared a total of N696.965 billion August 2021 Federation Account Revenue to the Federal, States and Local Governments.

This was contained in a communiqué issued at the end of the virtual meeting of the Federation Account Allocation Committee (FAAC) for September 2021, held Wednesday.

The N696.965 billion total distributable revenue comprised distributable statutory revenue of N477.504 billion; distributable Value Added Tax (VAT) revenue of N166.228 billion, Exchange Gain of N2.830 billion, Excess Bank Charges Recovered of N0.403 billion and N50 billion from Non-Oil revenue.

In August 2021, the sum of N72.295 billion was the total deductions for cost of collection, statutory transfers and refunds. The balance in the Excess Crude Account (ECA) was $60.857 million.

The communiqué confirmed that from the total distributable revenue of N696.965 billion, the Federal Government received N289.257 billion, the State Governments received N217.183 billion, while the Local Government Councils received N161.541 billion.

The sum of N28.984 billion was shared to the oil producing states as 13% derivation revenue.

The distributable statutory revenue of N477.504 billion was available for the month.

From this, the Federal Government received N236.437 billion, the State Governments received N119.924 billion and the Local Government Councils received N92.456 billion.

Gross revenue available from the Value Added Tax (VAT) was N178.509 billion.

This was higher than the N151.134 billion available in the month of July by N27.375billion.

The sum of N5.141 billion allocation to NEDC and N7.140 billion cost of revenue collection were deducted from the N178.509 billion gross Value Added Tax (VAT) revenue, resulting in the distributable Value Added Tax (VAT) revenue of N166.228billion.

From the N166.228 billion distributable Value Added Tax (VAT) revenue, the Federal Government received N24.934 billion, the State Governments received N83.114 billion and the Local Government Councils received N58.180 billion.

The Federal Government received N1.334 billion from the Exchange Gain revenue of N2.830 billion.

The State Governments received N0.677 billion, the Local Government Councils received N0.522 billion and N0.297 billion was given to the relevant States as 13% derivation revenue.

The Excess Bank Charges Recovered was N0.403 billion.

The Federal Government received N0.212 billion, the State Governments received N0.108 billion, and the Local Government Councils received N0.083 billion.

From the N50 billion Non-Oil revenue, the Federal Government received N26.340 billion, the State Governments received N13.360 billion, and the Local Government Councils received N10.300 billion.

According to the Communiqué, in the month of August 2021, Value Added Tax (VAT) and Import Duty increased significantly, while Petroleum Profit Tax (PPT), Companies Income Tax (CIT), Oil and Gas Royalties and Excise Duty recorded decreases.

Vanguard News Nigeria

Purity001:
FAAC shares N760.717bn for July 2021

https://thenationonlineng.net/faac-shares-n760-717bn-for-july-2021/
Needful to come between Friday this week and Tuesday next week.

.

GamaG:
SOMEONE SHOULD CONFIRM THIS

FAAC Shares N733.095 bn June 2021 Revenue To FG, States And LGs
The Federation Accounts Allocation Committee (FAAC) has shared a total of N733.095 billion as June 2021 Federation Account Revenue to the Federal, States and Local Governments Councils.

https://www.vanguardngr.com/2021/07/faac-shares-n733-b-among-fg-states-lgs/

Confirmed.
The sharing took place on 15th July, with the news report on 16th. Today is 7/8 days. Alert will likely come today or latest Monday/Tuesdays next week.

Chibuking81:
Which share will someone buy in the Nigeria stock exchange market that will give him atleast 60% assurance of not losing out, if Nigeria breaks tomorrow as a result of ongoing political crises?

hi

Leggitsam:
If you are ready to accumulate CAVERTON, I am good to release 5,000,000 units on Monday via Meristem.

I am interested too in your unit, please lower it down to #1.75/ #1.80 junction, I will be expecting.

MaxAngellyn:
Access too nothing yet o. Pls any access that has seen somtin shld let us knw. Apart frm the first person o.

I guess that they are disbursing the little balance in their account, before the seven/eight days maturity date of money received through FAAC usually dropped. 22nd to 30th is eight days. Possibly other banks will start receiving from today being the eight days.

locodemy:
That over 500m+ bids without offer was suppose to lead it to #5 but it failed.
Any sensible person is not suppose to monkey hunt Transcorp again until we see a genuine change.

I don't know why Peter is carrying their kaya for his head now.

Note:Any stock brutalize by Nsempa members never stand tall again except there is serious dialogue between the mgt and top Nsempa members.

No hope in transcorp. A little good result today, usually at q1 and bad result tomorrow, at final year result. Transcorp is among the gang of forward looking statements.

Any time they will start doing well, that arm that performed highly will be caved out, and the struggling one will remain, leaving nothing to the shareholders.

https://thenationonlineng.net/april-faac-fed-govt-forces-states-to-accept-n680b/
FG forces FAAC to share N680 billion. Meaning that Salary will come on or before Friday 30th of April, 2021.

https://www.vanguardngr.com/2021/04/march-faac-draws-more-controversy-as-fresh-facts-emerge/
Didn't see current news on this month FAAC sharing. Is like no sharing yet.

https://thenationonlineng.net/fg-printed-additional-n50bn-to-support-march-faac-obaseki/
Seriously our country future is in trouble.

kayusely70:
If that is true we are on the way to Zimbabwe, Venezuela and Somalia

Seriously

endy83:
Faac how far?

Federal government started printing money since last month. No news of FAAC meeting last month and wage bill was paid. Likewise if there is no FAAC meeting this month, know that FG is printing another round of money.

samguru:
I don read reports tire ooo.

I didn't sleep until 3.40am reading audited reports

Covid19 result

kayusely70:
I Dont Think A Meeting Was Held This Month As There Hasnt Been Any News About It.

No FAAC meeting yet. Meeting might take place today or tomorrow.

Mcy56:
I don't think they eventually pay that particular dividend......but if they opt to pay it for 2020 fye, it's fine.
@chibuking81 should be able to clarify it for us.......
Wish Chams could spring surprise again....

For Cham, no surprise is coming from them this time
1. Oct-Dec 1 kobo EPs,
2. Jan-Sept negative (2) kobo EPs,
3. Jan-Dec negative (1) kobo EPs
4. This was against their last year Jan - Dec earning per a share of 6 kobo.
See page 3 of their 2020 final year statement.

Company might have negative retain earning in their final year account as the result of previous negative earning, but still declare dividend in that accounting year, through positive EPs, for example if they earn 7 kobo, and declare 2 kobo, the remaining 5 kobo will be retain and will cancel the negative retain earning completely or near to completion. This will show in their following accounting year. So for now Cham PLC don't have what it take to pull up surprise this year, maybe next year.

The surprise will come from insurance companies this time, most especially from two. They started their vehicle with other insurance companies ahead of time, and reverses back, one to car park and the other near to car park. Once the dividend announcement comes out, kilometer 100%/200% they will move. Save this post.
Good morning all.

nna777:
I just went through fcmb's results q1 to q3. EPS as at q3 is 70k as opposed to 58k 2019(26% increase).

My projected EPS FY will be btw 90-95k so possibility of 20k dividend is likely. And with the acquisition of 96% stake in Aiico pension, it should reflect positively on their FY balance sheet interms of income fees.

As for mobil plc, why sell your shares except you bought above #186. I think the delisting will deliver better return for shareholders going forward. Am not selling mine.

@Mcy. Welldone as always.

FCMB is another Vita foam in making, their final EPs will likely cross #1. and dividend of 20 kobo and above.