News
FAAC MARCH 2024: FG, States And LGs To Share N1.1 Trillion
The Federation Account Allocation Committee (FAAC) on Friday shared a total sum of N1.123 trillion March 2024 Federation Account Revenue to the Federal Government, States and Local Government Council Areas after its April meeting statement by the Director of Press and Public Relations at the Office of the Accountant General of the Federation Bawa Mokwa indicated that in March 2024, import duty, value-added tax, (VAT) Gas Royalty, companies’ income tax (CIT), and others increased considerably while Excise Duty, Oil Royalty, Petroleum Profit Tax (PPT), Electronic Money Transfer Levy (EMTL) and CET Levies
FAAC in a communique at the end of the April meeting, revealed that the N1,123,391,000,000 total distributable revenue comprised distributable statutory revenue of N311.233 billion, distributable VAT revenue of N511. 879 billion, EMTL revenue of N14.754 billion, and exchange difference revenue of N285.525 billion.
The communique further revealed that total revenue of N1,867,808,000,000 was available in March 2024 and total deductions for the cost of collection was N69.537 billion while total transfers, interventions
Gross statutory revenue of N1.017 trillion was received for March 2024, a N175. 212 billion decline from the N1.192 trillion received in February 2024.
The gross revenue available from VAT in March 2024 was N549.698 billion and it is N89.210 billion higher than the N460.488 billion available in February 2024.
The total distributable revenue was shared as follows: Federal Government N345.890 billion, state governments N398.689 billion, and local government councils N288.688 billion.
The mineral-producing states received an additional N90.124 billion (13% of mineral revenue).
From the N311.233 billion distributable statutory revenue, the Federal Government received N133.960 billion, the state governments received N67.946 billion and the local government councils received N52.384 billion. The sum of N56.943 billion (13% of mineral revenue) was shared with the benefiting states as derivation revenue.
The Federal Government received N76.782 billion, the state governments received N255.940 billion and the local government councils received N179.158 billion from the N511.879 billion distributable VAT revenue.
N14.754 billion EMTL was also shared and the Federal Government received N2.213 billion, state governments received N7.377 billion and the local government councils received N5.164 billion.
The Federal Government received N132.935 billion from the N285.525 billion Exchange Difference revenue, state governments received N67.426 billion, and the local government councils received N51.983 billion. The sum of N33.181 billion (13% of mineral revenue) was shared with the benefiting states as derivation revenue.
Foreign
Former US Senator Bob Menendez sentenced to 11 years in prison for bribery
A judge sentenced a powerful former US senator, Bob Menendez to 11 years in prison Wednesday, after he was convicted of corruption following the discovery of gold bars and hundreds of thousands of dollars in cash at his home.
Bob Menendez, a 71-year-old Democrat from New Jersey, was convicted of federal charges of extortion, obstruction of justice and accepting bribes to perform favors for businessmen with connections to Egypt and Qatar. He said he would appeal.
“Somewhere along the way… you lost your way,” District Judge Sidney Stein said in announcing the sentence. “Working for the public good became working for your good.”
Menendez, who had served as chairman of the influential Senate Foreign Relations Committee, had vowed to appeal the verdict handed down in July 2024, and on Wednesday he asked for leniency from the judge ahead of his sentencing.
“I am going to ask you for mercy — not for me, but for Anthony,” a crying Menendez said, referring to his son who has autism.
Ahead of the sentencing, the court received letters from acquaintances of Menendez testifying to his character.
“Bob inspired many people, including me, with hope that it is possible to change the world,” said one, from author Donald Scarinci.
Menendez’s attorney Adam Fee said that “despite his decades of service, he is now known more widely as ‘gold bar Bob.’”
The counts on which Menendez was convicted after less than three days of jury deliberations included conspiracy to commit bribery and acting as a foreign agent while a public official.
– ‘Egregious abuse’ –
Menendez said outside court following his conviction last year: “I have never been anything but a patriot of my country and for my country. I have never, ever been a foreign agent.”
On Wednesday he vowed to appeal and called his prosecution a “witch hunt.”
“President (Donald) Trump is right. This process is political and it’s corrupted to the core. I hope President Trump cleans up the cesspool and restores integrity to the system,” he said.
He was not immediately taken into custody following the hearing.
In a raid on Menendez’s New Jersey home, FBI agents were said to have found nearly $500,000 in cash hidden around the house, as well as gold bars worth around $150,000 and a luxury Mercedes-Benz convertible.
His wife Nadine Menendez, to whom defense lawyers sought to shift the blame, was charged but faces trial separately as she receives treatment for breast cancer.
Menendez was convicted alongside two of the businessmen he helped — Egyptian-American Wael Hana and Fred Daibes, a real estate developer. They were both sentenced to jail terms Wednesday.
A third businessman, insurance broker Jose Uribe, pleaded guilty to bribery charges in March and assisted investigators.
Menendez is said to have interfered in the nomination of New Jersey’s prosecutor in a bid to ensure that proceedings were dropped against Daibes and Uribe.
He is also accused of accepting bribes to use his power and influence to enrich his co-conspirators and benefit the government of Egypt, including by helping Hana protect his monopoly on US exports of halal food products to the country.
Prosecutors had sought a jail term of 15 years while Menendez’s defense sought no more than eight years behind bars.
Prosecutor Danielle Sassoon said in a statement “the sentences imposed today result from an egregious abuse of power at the highest levels.”
News
JUST IN 2025 Ramadan: Sultan Makes New Announcement For Muslims
By Kayode Sanni-Arewa
The Sultanate Council Advisory Committee on Religious Affairs, in collaboration with the National Moon Sighting Committee, has confirmed that there were no verified sightings of the crescent moon marking the beginning of Sha’aban 1446AH.
This announcement holds significant importance for Muslims in Nigeria, as Sha’aban is the last month before Ramadan, the holiest month in Islam.
Official Declaration of Sha’aban 1446AH
In a formal statement, Sambo Wali Junaidu, the Wazirin Sokoto and Chairman of the Advisory Committee on Religious Affairs, Sultanate Council, Sokoto, disclosed that no credible reports of moon sightings were received from moon sighting committees across the country.
As a result, Thursday, January 30, 2025, will be observed as the 30th day of Rajab 1446AH, while Friday, January 31, 2025, has been officially declared as the first day of Sha’aban 1446AH.
Sultan of Sokoto Endorses the Decision
The declaration was formally endorsed by His Eminence, Alhaji Muhammad Sa’ad Abubakar, the Sultan of Sokoto and President-General of the Nigeria Supreme Council for Islamic Affairs (NSCIA).
“The confirmation of Sha’aban’s commencement is crucial, as it ensures consistency in the Islamic calendar and helps guide religious observances for Muslims across the country,” the statement emphasized.
Call for Spiritual Preparation for Ramadan
In light of this development, the Sultanate Council has advised Nigerian Muslims to adhere to official moon sighting announcements and begin spiritual preparations for Ramadan.
Sha’aban is considered a sacred month in Islam, often dedicated to increased prayers, fasting, and self-reflection in anticipation of Ramadan, which is set to begin in the coming weeks.
The Council reiterated the importance of unity and adherence to Islamic traditions, urging Muslims to take advantage of Sha’aban for spiritual purification and devotion.
News
JAMB Suspends Law Programs in Eight Universities, Including KWASU and Redeemers.
By Kayode Sanni-Arewa
The Joint Admissions and Matriculation Board (JAMB) has announced that it will no longer conduct admissions for the Law program in eight universities. This decision was made following the suspension of the Bachelor of Laws program by the Council of Legal Education for the 2025/2026 academic session at the affected universities.
The affected institutions are:
– *Kwara State University*, Malete, Ilorin, Kwara State
– *Bingham University*, Karu, Nasarawa State
– *Redeemers University*, Ede, Osun State
– *Western Delta University*, Oghara, Delta State
– *Taraba State University*, Jalingo, Taraba State
– *Arthur Jarvis University*, Akpabuyo, Cross River State
– *Alex Ekwueme Federal University*, Ndufu-Alike, Ebonyi State
– *Nigerian Police Academy*, Wudil, Kano State
According to JAMB spokesman, Fabian Benjamin, the suspension of the Law programme at the Nigerian Police Academy will last for two academic sessions, specifically the 2025/2026 and 2026/2027 sessions.
“As a result, JAMB will not approve any admissions for candidates seeking to enroll in the Law program at the aforementioned universities for the 2025/2026 academic session. Furthermore, the ban on registration for the Law program at the Nigerian Police Academy will extend into the 2026/2027 academic session,” the statement concluded.
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