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FG, States, LGs Share N1.123tn In March
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The Federation Account Allocation Committee has disbursed a total of N1.123tn to the federal, state, and local governments for March 2024.
The allocation, derived from a gross total of N1.867tn, marks a critical distribution of funds aimed at supporting various government tiers.
This was revealed in a statement signed by the Director of Information and Public Relations, Ministry of Finance, Mohammed Manga, on Friday.
FAAC has the duty of examining and approving the distribution of financial resources to the states and the Federal Government.
Monthly, this committee is tasked with the disbursement of funds across Nigeria’s 36 states and its 774 local government areas.
This allocation is anticipated to drive progress and support governmental bodies across various tiers in executing their duties.
The PUNCH reported that the FAAC shared N1.152.trn to the three tiers of government for February 2024 from a gross total of N2.326.14trn
Manga stated that the Accountant General of the Federation, Mrs. Oluwatoyin Madein, chaired the meeting and highlighted the importance of the allocation.
“This distribution is pivotal in ensuring that all government levels have the necessary funds to continue their development projects and provide essential services to the citizens,” the statement read.
The statement noted that the Federal Government received N345.890bn, states, and local governments received N398.689bn and N288.688bn, respectively, while oil-producing states received N90.224bn as 13 per cent mineral revenue derivation.
The FAAC statement also noted an increase in the gross revenue from Value Added Tax for March 2024, amounting to N549.698bn—an N89.210bn rise from the previous month.
This increase reflects the country’s economic growth and improved tax compliance.
Despite the positive trend in VAT, the Gross Statutory Revenue of N1.017tn for March was lower than February’s N1.192tn by N175.212bn.
The decrease has been attributed to reductions in excise duty, oil royalty, petroleum profit tax, customs external tariff levies, and electronic money transfer levy.
The balance in the Excess Crude Account as of April 2024 stands at $473,754.57, indicating a reserve for future financial stability.
The statement noted that the FAAC’s decision to allocate these funds is expected to bolster economic activities across the nation and support the government’s efforts in improving infrastructure, healthcare, education, and other vital sectors.
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Army Nabs Wanted Soldier Accused Of Supplying Uniforms To Terrorists While Escaping to Cameroon
Troops of Operation HADIN KAI have nabbed a soldier declared wanted by the Nigerian Army over his alleged involvement in supplying military wares to terrorist groups operating in the North-East.
The suspect, identified as 23NA/84/1939 Private Mohammed Yusuf of the Nigerian Army Ordnance Training Facility (NAOTF), Lagos, was apprehended at about 6:30 p.m. on Sunday, July 25, 2026 by troops of 7 Provost Group led by the Acting Commander.
Preliminary investigations revealed that before he was declared wanted by the Army, the soldier absconded from his unit and travelled to Maiduguri on July 7, where he allegedly went into hiding.
Investigators further established that he was allegedly sheltered at Gomari Costain in Jere Local Government Area of Borno State by 25NA/89/12687 Private Baba Kamal Sale of the Corps of Intelligence, Dikwa.
Acting on credible intelligence, troops of the 7 Provost Group placed the suspect under 24-hour surveillance before intercepting and arresting him at Jidari Bus Stop while he was allegedly attempting to flee to Cameroon.
The suspect is currently in the custody of the 7 Provost Group, where he is undergoing further investigation into the alleged supply of military accoutrements to terrorist elements and the possible involvement of other collaborators.Government
Military sources described the arrest as a significant breakthrough in ongoing efforts to dismantle insider networks aiding terrorist groups, adding that investigations are continuing to establish the full extent of the suspect’s activities and identify any accomplice.
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AEDC Promotes 547 Employees, Raises Pay For 579 Others
Abuja Electricity Distribution Plc (AEDC) has promoted 547 employees and approved salary step increments for 579 others as part of a broad workforce development programme designed to reward outstanding performance, strengthen staff motivation and drive organisational excellence.
The exercise, which benefitted 1,126 employees, followed the successful completion of the company’s 2025 Performance Appraisal Exercise and underscores AEDC’s commitment to building a high-performing, customer-focused workforce.
Managing Director and Chief Executive Officer of AEDC, Chijioke Okwuokenye, said the initiative reflects the company’s resolve to place employees at the heart of its transformation agenda, stressing that investment in human capital remains critical to achieving sustainable growth.
He described the promotions and salary adjustments as a recognition of diligence, professionalism and commitment, noting that the company would continue to reward excellence while creating opportunities for career advancement.
According to him, AEDC is intentionally fostering a work environment where merit, innovation, continuous learning and teamwork determine career progression, adding that employee welfare remains a key pillar of the company’s long-term strategy.
“Our people remain our greatest asset and the foundation upon which AEDC’s future will be built. This is more than a reward for performance; it is a reaffirmation of our belief that excellence should always be recognised, talent should be nurtured and hard work should create opportunities for growth,” Okwuokenye said.
He explained that the organisation is committed to providing employees with fulfilling career opportunities that enable them to maximise their potential while contributing to AEDC’s ambition of becoming one of Africa’s leading electricity distribution companies.
The AEDC chief also urged employees who were not promoted in the current appraisal cycle to remain committed, assuring them that the company’s performance management system is structured to support continuous improvement, skills development and future career progression.
AEDC said the promotion and salary increment exercise forms part of its broader strategy to cultivate a performance-driven culture, encourage professionalism and recognise employees who contribute significantly to the company’s growth.
The company added that as it continues to modernise operations, improve electricity service delivery and enhance customer experience, it will sustain investments in staff development to strengthen productivity and reinforce its position as one of Nigeria’s preferred employers in the power sector.
News
Suspected Hoodlums Cart Away PVCs At Distribution Centre In Osun
Some hoodlums suspected to be political thugs on Sunday stormed a permanent voter’s card (PVC) distribution centre in Okuku, the headquarters of the Odo-Otin Local Government Area of the state, and carted away two packs of PVCs.
The INEC officials were busy distributing the cards at the Oyinlola DC Primary School, Ward 2, when the thugs suddenly arrived and started shooting sporadically into the air, scaring residents and officials, and took two packs of cards and left the venue before police could arrive at the scene.
The spokesperson of the Osun State Command, Abiodun Ojelabi, said that about ten armed hoodlums invaded the centre, fired sporadically into the air and carted away three packs of PVCs before fleeing the scene.
Ojelabi disclosed that the State Commissioner of Police, Ibrahim Gotan, has condemned the attack and directed a comprehensive investigation to identify and prosecute those responsible.
Reacting to the development, the Resident Electoral Commissioner (REC) of INEC in the state, Oluwatoyin Babalola, condemned the attack. She said she was to get the detailed report on the attack, adding that she is yet to know the exact number of PVCs carted away by the hoodlums.
The REC, however, assured the people of the state that the governorship election would be free, fair, credible, inclusive and transparent.
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