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FAAC: FG, States, Councils share N1.149trn for January 2024

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A total revenue of N2.068 trillion was collected in the month of January 2024 into the Federation Account.
Deductions for cost of collection was N78.412 billion with total transfers, interventions and refunds N639.926 billion and savings N200.000 billion.
As a result of the deductions from the total revenue, the Federation Account Allocation Committee (FAAC) shared N1.149 trillion from the January 2024 Federation Account Revenue to the Federal Government, States and Local Government Councils.
This means the federal government saved N919 billion in the special account created after the end of fuel subsidy was announced by President Bola Ahmed Tinubu in May, 2023.
The balance in the Excess Crude Account (ECA) still stands at $473,754.57.
Director Press and Public Relations in the Office of the Accountant General of the Federation (OAGF), Bawa Mokwa in a statement on Thursday in Abuja informed that the revenue was shared at the February 2024 meeting of the Federation Accounts Allocation Committee (FAAC) chaired by the Minister of Finance and Coordinating Minister for the Economy, Wale Edun.
Mokwa, quoting a communique by FAAC said: “The N1.149 trillion total distributable revenue comprised distributable statutory revenue of N463.079 billion, distributable Value Added Tax (VAT) revenue of N391.787 billion, Electronic Money Transfer Levy (EMTL) revenue of N15.922 billion and Exchange Difference revenue of N279.028 billion.
“Interestingly the federation account benefitted (N279.028 billion) from the January crash of the Naira. The inflow of N279.028 billion from Exchange Rate Differentials in January 2024 signifies the gains realized from favorable exchange rate movements on foreign currency transactions or investments that were translated into the local currency, ultimately boosting the financial position of the federation account.
“In other words, the dollar rate at which the nation sold crude oil resulted as a blessing to the federation account when the Naira fell.”
The OAGF spokesman added that the gross statutory revenue of N1.151 trillion was received for the month of January 2024.
 “This was higher than the sum of N875.382 billion received in the month of December 2023 by N276.426 billion,” he said.
“The gross revenue available from the Value Added Tax (VAT) in January 2024 was N420.733 billion.  This was lower than the N492.506 billion available in the month of December 2023 by N71.773 billion,” he added.
According to him: “The communique stated that from the N1,149 trillion total distributable revenue, the Federal Government received a total of N407.267 billion, the State Governments received N379.407 billion and the Local Government Councils received N278.041 billion.
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Simon Ekpa May Be Released From Detention, Biafra, Says His Deputy

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Ngozi Ezeobika Orabueze, the Deputy Prime Minister of the Biafra Government In Exile, has said efforts are ongoing to ensure Simon Ekpa’s release from detention and the actualisation of the independent nation of Biafra.

Ekpa, the self-proclaimed Prime Minister the Biafra Government In Exile, is being detained in Finland.

Orabueze who made the vow in her Christmas message to the ‘people of Biafran Nation,’ said she and others were working to achieve the actualisation of the United States of Biafra and ensure Ekpa’s release.

Recall Finland district court in Lahti had ordered that Ekpa should be remanded in prison following his arrest for suspected terrorist activities.

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Ekpa was accused of using social media platforms to spread separatist propaganda linked to the Indigenous People of Biafra (IPOB), a group advocating for the secession of southeastern Nigeria.

The court alleged that the offences dated back to August 23, 2021.

Finland authorities have also investigated Ekpa in the past for alleged financial crimes, including the collection of funds through questionable means.

Orabueze in her message said, “As we celebrate this festive season, I extend my warmest Christmas wishes to every law-abiding Biafran, and especially to the Biafra Defense Forces for their unwavering defense of the territory of the United States of Biafra against the occupying Nigerian terrorist state actors.

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“May this Yuletide bring joy, peace, and an abundance of love into your homes.

“We stand on the cusp of a new year, and with it, we look forward to a future filled with great promise and prosperity.

“I urge you to continue placing your trust in and supporting our government-the United States of Biafra Government-under my stewardship.

“Together, we are working tirelessly toward the recognition of our country and preparing for the triumphant return of our able Prime Minister, Ekpa Simon Njoku.

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“He leads and will continue to lead us through the final stretch of our journey to realize the dream of the United States of Biafra as an independent, sovereign nation, guided by the principles of justice, fairness, and equity.”

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HoR minority caucus condemns crackdown on citizens by FG, calls for immediate release of detained persons

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By Kayode Sanni-Arewa

The House of Representatives Minority Caucus has slammed the Federal Government over crackdown on citizens criticisms and demanded for the immediate release of detained persons.

The caucus also reiterated the importance of dissenting opinions in a democracy, reminding President Bola Tinubu of his critical stance during the reign of President Goodluck Jonathan.

This was contained in a statement dated December 22, 2024 and signed by the Minority Caucus Leader, Rep Kingsley Chinda, stating that:

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“The Minority Caucus of the House of Representatives is very concerned about the growing controversial clampdown of citizens criticizing government.

“It is equally disturbing that agents of state are fingered in the brazen, callous, and ill-tempered harassment, and intimidation of citizens who on various medium express their respective disagreement, and apprehensions about some government policies which they believe will further exacerbate the near-zero situations of Nigerians.

“As a responsive and responsible group, we condemn in strong terms any, and every actions by the government; through security, and law enforcement agencies geared towards creating fears, panic, and make people to cow-tow to submission.

The Caucus further explained that: “We wish to reiterate that democracy can only thrive where there is virile opposition, and dissenting voices, as well as enabling alternative opinions
to express their differing views without fear or let.

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“The Caucus recalls that, before 2015 when the All Progressives Congress (APC) came to power, the party was very brazen, sharp-shooting, and sometimes not courteous in it’s vilification, and pillorying of the government in power.

” Indeed, President Bola Tinubu in 2011, as the National Leader of the Action Congress of Nigeria (ACN) was very frontal in his criticisms of (then president) Goodluck Jonathan.

” It is surprising that a party that went roughshod in attacking, and castigating the PDP, now abhors, rejects, and hates criticism with much derision.

“As a Caucus, while we counsel that every criticism should be civil, and align with accepted regulations, we enjoin government to eschew every action of citizenry intimidation, coercion, and prosecution which may have negative effects on democracy.

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” We also encourage the government to evolve results-yielding, and life-changing policies, and initiatives that will impact positively on Nigerians as an ingenious strategy to “defeat” its critics.

“While the Caucus calls for immediate release of anyone detained by state agencies for criticizing government policies, or under any guise, we also promise to resort to legislative actions against continuous abuse.

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BREAKING: Tension in Delta as soldiers invade another community

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Fear grips Okpare-Olomu town, located in the Olomu Kingdom of Ughelli South Local Government Area in Delta State, after Nigerian military personnel invaded the community with three Hilux vehicles.

The incident, which occurred on Thursday morning around 7:30am, has left residents on edge, with reports indicating that the soldiers took control of the community town hall by force. It was learnt that locals are concerned about the military’s presence in their community.

It was gathered that the military stormed the community in search of some of the community’s leaders, especially its President-General, Okiemute Otoka.

The sudden appearance of the military in Okpare-Olomu community sparked widespread panic, with residents fleeing in all directions, while women and children ran for safety to avoid a repeat of a similar incident in Okuama community.

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According to Otoka, Okpare-Olomu community President-General, the military’s true intention was to disrupt the community’s annual conference, scheduled for Thursday, where crucial decisions on growth and development were to be made.

Otoka’s allegations suggest that the military’s presence was not just a coincidence, but a deliberate attempt to interfere with the community’s affairs.

Otoka further accused some elders and leaders of the community of unlawfully selling communal land without the approval of the annual conference as those behind the invasion of the community by the military.

Meanwhile, at the time of filing this report, there was apprehension in the community as the invading military personnel were still in the community.

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Source: Saharareporter

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