₦airaland Forum

chriswill20:
like seriously. UBE OR SSSB?

SSSB

spatula23:
Alert received...

Diamond/Access

Alert received





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Alert received








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Zenith people how far?

The Federal Account Allocation Committee (FAAC), on Thursday shared N679.69 billion among the Federal Government, States, and Local Government Councils as federal allocation for the month of May.
A statement by Hassan Dodo, the Director, Information, Ministry of Finance, said the allocation was shared at FAAC’s joint session at the African House, Kano State.
Mr Dodo said that a communiqué issued by the Technical Sub-Committee gave the breakdown of the distribution to the three tiers of government.
According to him, it is inclusive of cost of collection to the Nigeria Customs Service (NCS), Department of Petroleum Resources (DPR) and the Federal Inland Revenue Service (FIRS).
He said the total revenue distributable for the month included Value Added Tax (VAT) of N106.82 billion and Exchange Gain of N1.14 billion.
Mr Dodo said that the Federal Government received N284.16 billion, representing 52.68 per cent, the states received N187.6 billion, representing 26.72 per cent and LGCs got N140.99 billion, representing 20.60 per cent. He added that the oil producing states received N40.43 billion as 13 per cent derivation revenue.
Mr Dodo, however, said that cost of collection/transfers/FIRS refund stood at N26.498 billion.
He also said that the communiqué indicated that the gross revenue available from VAT was N10.34 billion more than the N96.48 billion distributed in April.
It further disclosed that the distributed statutory gross revenue of N571.73 billion received for the month was higher than the N518.91 billion received in the previous month by N52.81 billion.
According to the communiqué, revenues from Oil Royalty and Companies Income Tax (CIT) recorded significant increases, while Petroleum Profit Tax (PPT) decreased significantly.
“Meanwhile, Import Duty and VAT also recorded marginal increases.’’
Mr Dodo said that the committee disclosed that as at Thursday, the Excess Crude Account (ECA) had a balance of 63 million dollars. (NAN)

Good move by my governor.
Some principals are criminals.
Let me see how some teachers will be behaving as if they are bigger and more important than their colleagues just because they are sent by the principal to collect money from students.

Expect minimum wage in the month of June.

Congrats Akwa Ibom state for being the first state to implement the minimum wage payment on April salary.

Hope you are not joking?

Other banks might come latest tomorrow.

BREAKING NEWS. Governor Nyeso Wike has approve the new minimum wage of #30,000 to take effect from this January salary.
Me: Talk and do Governor. [/color][color=#990000]

Wike accommodates new wage in N480b 2019 budget

guardian.ng

Dec 25, 2018 5:22 AM



Nyesom Wike

• Tambuwal proposes N169.6b for Sokoto

Governor Nyesom Wike has accommodated the expected new minimum wage in the 2019 Appropriation Bill of N480billion he presented to the Rivers State House of Assembly yesterday.

The budget designed to achieve sustainable growth and development is less than the N510billion 2018 appropriation bill. Wike said the 2019 proposals were specifically aimed at promoting economic growth and diversification, creating jobs to reduce unemployment and poverty and as well, improving the living standard of the people.

The budget is premised on an oil price benchmark of $55 per barrel, which is five dollars lower than that of the Federal Government. It has a total capital expenditure of N323 billion and recurrent expenditure of N157 billion.

The governor said the capital allocation for the 2019 fiscal year represented 65 per cent of the total budget, noting that the sum is, however, less than the figure for 2018 by N57 billion due to the reduction in the total size of the 2019 budget.

According to Governor Wike, the budget is expected to be financed by the internally generated revenue of N120, 492,891,302.00; statutory allocation
of N73, 169,813,022.00; 13% oil minerals fund of N145, 070,991,780.00; Value Added Tax (VAT) of N26, 377,628,543.00; Refunds of N27, 337,926,155.08; and local credits of N45 billions, among others.

A substantial part of the capital budget is allocated to the ministries of agriculture; education; employment generation and empowerment; health; sports development; women affairs; works; and youth development because the budget is focused on human capital development and provision of infrastructure.Governor Wike said his administration would continue to prioritize security of lives and property in spite of the alleged lack of cooperation from the Federal Government.

“The sum of N18,000,000,000.00 has been proposed to fund all aspects of securing and keeping Rivers State safe, peaceful and secure, including the operationalization of the recently established State Neighbourhood Safety Corps programme.

In Sokoto State, Governor Aminu Waziri Tambuwal, presented to the House of Assembly for approval a budget of N169,652,771,486.00 for 2019.Tagged “Budget of Consolidation”, Tambuwal said the emphasis would be on continuation of ongoing projects.The amount represents a shortfall of N50, 493,079.00 or 23.06 percent when compared to the 2018 figure of N220,500,264.

According to Tambuwal, N70,468,519,058.00 representing 41.53 percent is for recurrent expenditure while N99,184,252,425.00 is for capital expenditure.He stated that the budget was prepared in consonance with existing budgetary standing and prevailing fiscal projection.He also noted that although under a democratic dispensation, the budget is a product of extensive consultations with key stakeholders, the ultimate objective at all times is meeting the expectations and yearnings of the citizenry within the limits of available resources.The Speaker, Alhaji Salihu Maidaji, assured the governor of speedy consideration so that he could continue the laudable programmes.



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This our salary is not different from empowerment. l call it empowerment.

FAAC Shares N812bn to Tiers of Govt in December 2018 A total of N812.762 billion has been distributed as Federal Allocation for the month of November 2018 between the Federal, States and Local Government Councils. The communiqué issued by the Technical Sub -Committee of the Federation Accounts Allocation Committee (FAAC) at the end of its December meeting, indicated that the Gross statutory revenue received was N649.629 billion. This sum is lower than the N682.161 billion received in the previous month by N32.533 billion. Breakdown of the total distributable revenue of N812.762 billion, comprised the Statutory Revenue of N649.629billion, Gross Value Added Tax of N92.079billion, Forex Equalisation of N70.000 billion and An Exchange Gain of N1.055 billion. Therefore, from the Gross statutory revenue, Federal Government received N280.913 billion representing 52.68%; States received N142.483 billion representing 26.72%; Local Government Councils received N109.848 billion representing 20.60%; while the Oil Producing States received N47.882 billion also representing 13% derivation revenue. Furthermore, the breakdown of distribution to the 3 tiers from Value Added Tax (VAT), include: Federal Government received N13.259 billion representing 15%; States received N44.198 billion representing 50% while the Local Government Councils received N30.938 billion, also representing 35%. Meanwhile, the Communique added that the revenue from the Company Income Tax(CIT) increased significantly while revenues from Value Added Tax (VAT), Import Duty, Petroleum Profit Tax (PPT) and Foreign Oil and Gas, Domestic Oil and Gas Royalties all decreased. The balance on Excess Crude Account as at 19th December , 2018 is $631 million.

Read more at: https://prnigeria.com/2018/12/19/faac-december-2018/?fbclid=IwAR1bcDXAPcvf0HvR8NzGhgTuj9EA9Sh7g4S3n5uwh109JV5B9RsWBncS_So

Other banks to receive tomorrow....

Alert tomorrow or next.

That was the reason I sent my wife parking, when she aborted my second child,nearly killed me and my daughter. Anger is second madness. Men should be very careful, most especially when they have a nagging wife. Now she is busy moving up and down begging for a reunion. But hell no! God just saved my life.

That was the reason I sent my wife parking, when she aborted my second child,nearly killed me and my daughter. Anger is second madness. Men should be very careful, most especially when they have a nagging wife. Now she is busy moving up and down begging for a reunion. But hell no! God just saved my life.

No alert till next week.

The Federation Account Allocation Committee (FAAC) disbursed the sum of N821.86bn to the three tiers of government in July 2018 from the revenue generated in June 2018.
The amount disbursed comprised of N687.35bn from the Statutory Account, N85.34bn from Valued Added Tax (VAT) and N7.32bn excess bank charges.
Federal government received a total of N315.01bn from the N821.86bn. States received a total of N194.51bn and Local governments received N147.05bn. The sum of N42.85bn was shared among the oil producing states as 13% derivation fund while N100.00bn was transferred to Excess crude Account(ECA).
Revenue generating agencies such as Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS) and Department of Petroleum Resources (DPR) received N4.82bn, N12.21bn and N5.42bn respectively as cost of revenue collections.
Further breakdown of revenue allocation distribution to the Federal Government of Nigeria (FGN) revealed that the sum of N271.02bn was disbursed to the FGN consolidated revenue account; N5.75bn shared as share of derivation and ecology; N2.87bn as stabilization fund; N9.65bn for the development of natural resources; and N6.53bn to the Federal Capital Territory (FCT) Abuja.

Stanbic bank alert sighted, 61k. Chai!!!!!

FG, States, LGs share N821.9 b in June - Vanguard News
vanguardngr.com Jul 27, 2018 8:00 PM

By Emmanuel Ujah
The three tiers of government, Friday shared the sum of N821 billion representing federation revenue for the month of June.

Children affected by poverty
The Minister of Finance, Mrs. Kemi Adeosun, gave the figure while briefing the press at the end of the month’s Federation Account Allocation Committee (FAAC) meeting in Abuja.

According to her, President Muhammadu Buhari has directed a new template for calculating oil revenue remittance by the Nigerian National Petroleum Corporation (NNPC).

This she said, would permanently address the controversy over inadequate remmitances between the NNPC and state governments.

The breakdown showed that the federal government got N315 billion , while States and Local governments received N194. 5 billion and N147, 05 billion,respectively.

The oil producing states of the Niger Delta received additional N42.8 billion representing 13 per cent derivation.

On the new template, the minister said,that the draft would be out by next month and be sent to the states for their inputs.

She also said that henceforth, a pre-FAAC meeting would hold between the Federal Ministry of Finance and the NNPC to consider the figures availablw for remittance for the month before each FAAC.

kelga UBE.

Chai!!! No salary this week....

Stanbic alert sighted. UBE May 2018.

FAAC: FG, States, LGs shares N647.39 billion as February revenue
ON March 28, 2018 1:46 PM / IN
News / BY Nwafor Polycarp /
Comments
The Federation Account Allocation Committee (FAAC), on Wednesday agreed to share N647.39 billion to federal, states and local governments as revenue generated in the month of February.
The Minister of Finance, Mrs Kemi Adeosun, said this in Abuja, while briefing newsmen on the outcome of the monthly FAAC meeting.
She said after deductions for cost of collections had been made to the Federal Inland Revenue Service (FIRS), Nigeria Customs and the Department of Petroleum Resources, the Federal Government received N257.92 billion.
Adeosun said in accordance with the revenue sharing formula, the 36 states governments received N130.82 billion, while the Local Government Councils received an allocation of N100.86 billion.
In addition, she announced that N57.35 billion representing 13 per cent of the mineral revenue generated in the month of February, was also shared among the oil producing states.
To this end, Adeosun said the nation generated N444.29 billion as mineral revenue and N112.99 billion as non-mineral revenue in February.
On discrepancies in figures submitted by the Nigerian National Petroleum Corporation (NNPC), she said she would be meeting with the Group Managing Director to resolve the issues.
She pledged to ensure that the federation was not short-changed by any of its revenue generating agencies.
Meanwhile, the Chairman, Commissioners of Finance Forum, Mr Mahmoud Yunusa, said the state governments agreed to collect the available funds so that Nigerians would not have a bleak Easter.
“After the FAAC meeting was suspended yesterday, another meeting was called in the night, where we met, discussed and agreed that the outstanding balance with NNPC would be followed to its logical conclusion.
“However, Easter is approaching and a lot of people will be relying on their salaries for this purpose. I am sure that many people will be travelling and attending weddings.
“So we don’t want to disrupt Nigerians from enjoying themselves this holiday.
“To this end, we looked at the figure made available for sharing and it was more than the money made available last month by more than N11 billion. So give or take, we are not losing,” he said.
Yunusa said the states had agreed to accept the figures as presented by the NNPC temporarily to pay salaries and then later engage NNPC for further discussions and reconciliation.
He said the states plan to meet with the accountants of the NNPC to begin the process of reconciliation within the next 48 hours.
According to him, whatever additional funds come into the federation’s account after the reconciliation will be shared by the three tiers of government as soon as possible in accordance with the revenue sharing

i laugh.

you will thank me later.

I have said it all. Take it or leave it.

No salary after biometric

Updates:
Naira Remain Flat N362/$1 at Parallel Market
FAAC Disburses N655.18bn to Three-Tiers of Government in January 2018-NBS
Posted by InvestAdvocate on February 22, 2018 in Updates | 0 Comments
Image result for Federation Account Allocation Committee

February 22, 2018/NBS

The Federation Account Allocation Committee (FAAC) disbursed the sum of N655.18bn to the three tiers of government in January 2018 from the revenue generated in December 2017.The amount disbursed comprised of N538.51bn from the Statutory Account and N83.96bn from Valued Added Tax (VAT). Also N14.713bn and N16.055bn were distributed as FOREX Equalisation while an excess bank charges of N1.938bn recovered was also distributed.

Federal government received a total of N278.73bn from the N655.18bn shared. States received a total of N175.55bn and Local governments received N132.48bn. The sum of N51.74bn was shared among the oil producing states as 13% derivation fund.
Revenue generating agencies such as Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS) and Department of Petroleum Resources (DPR) received N4.12bn, N7.44bn and N3.10bn respectively as cost of revenue collections.

Further breakdown of revenue allocation distribution to the Federal Government of Nigeria (FGN) revealed that the sum of N240.98bn was disbursed to the FGN consolidated revenue account; N5.06bn shared as share of derivation and ecology; N2.53bn as stabilization fund; N8.50bn for the development of natural resources; and N5.83bn to the Federal Capital Territory (FCT) Abuja.