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JUST IN: FG, states, LGs shared N1.35tn in June
By Kayode Sanni-Arewa
The Federation Account Allocation Committee has disclosed that the three tiers of government shared a total sum of N1.35 trillion in June.
The amount shared was out of the total sum of N2.48tn revenue generated by various agencies and N150m more than the N1.2tn shared in May.
A statement by the Director, of Information and Public Relations, Finance Ministry, Mohammed Manga, on Tuesday said the Federal Government received a total sum of N459.776bn, the States received N461.979bn, the Local Government Councils got N337.019bn.
The Director however didn’t confirm if LGCs administrated by the caretaker committee received statutory allocations as directed by the Supreme Court.
Last week, the apex court ordered the Federal Government to immediately start the direct payment of local government funds to the latter’s exclusive accounts.
The court ordered immediate compliance with the judgement, stating that no state government should be paid monies meant for Local Governments.
The statement read, “The Federation Account Allocation Committee, at its July 2024 meeting chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, shared a total sum of N1,35tn to the three tiers of government as Federation Allocation for m a gross total of N2,48tn.
“From the stated amount inclusive of Gross Statutory Revenue, Value Added Tax, Electronic Money Transfer Levy, Exchange Difference, and an Augmentation of N200 Billion, the Federal Government received N459.776 Billion, the States received N461.979 Billion, the Local Government Councils got N337.019 Billion, while the Oil Producing States received N95.598 Billion as Derivation, (13 per cent of Mineral Revenue).”
It added that the sum of N92.11bn was given for the cost of collection, while N1.037bn was allocated for transfer Intervention and refunds.
It said CoCompanies’ncome Tax and Value Added Tax increased significantly, Import and Excise Duties and Electronic Money Transfer levies increased marginally while Petroleum Profit, Royalty Crude, Rentals and Customs External tariff levies recorded considerably decreases.
The sum of N92.11bn was given for the cost of collection, while N1.037bn was allocated for transfer intervention and refunds.
The Communique issued by the committee at the end of the meeting indicated that the Gross Revenue available from the Value Added Tax for June 2024, was N562.685bn as against N497.66bn distributed in the preceding month, increasing to N65.020bn.
The Communique stated, “From that amount, the sum of N22.507bn was allocated for the cost of collection and the sum of N16.205bn was given for transfers, intervention and refunds.
“The remaining sum of N523.973bn was distributed to the three tiers of government, of which the Federal Government got N78.596bn, the States received N261.987bn and Local Government Councils got N183.39bn
Accordingly, the Gross Statutory Revenue of N1.24tn was received for the month. From the stated amount, the sum of N68.95bn was allocated for the cost of collection and a total sum of N1.02tn for transfers, intervention and refunds.
The remaining balance of N142.514bn was distributed as follows to the three tiers of government: Federal Government got the sum of N48.95bn, States received N24.83bn, the sum of N19.14bn was allocated to LGCs and N49.59bn was given to Derivation Revenue (13 per cent Mineral producing States).
Also, the sum of N16.35bn from the Electronic Money Transfer Levy was distributed to the three tiers of government as follows: the Federal Government received N2.354bn, States got N7.85bn, Local Government Councils received N5.49bn, while N0.654bn was allocated for the cost of collection.
The Communique also disclosed the sum of N472.19bn from Exchange Difference, which was shared as follows: Federal Government received N224.51bn, States got N113.88bn, the sum of N87.79bn was allocated to Local Government Councils, N46.01bn was given for Derivation (13 per cent of Mineral Revenue).
It further disclosed an Augmentation of N200bn which was shared as follows: the Federal Government got N105.4bn, the States received the sum of N53.44bn, while the sum of N41.200bn was allocated to Local Government Councils.
Companies’ Income Tax and Value Added Tax increased significantly, while Import and Excise Duties and Electronic Money Transfer Levies increased marginally. Petroleum Profit, Royalty Crude, Rentals and Customs External Tariff levies recorded considerable decreases.
According to the Communique, the total revenue distributable for the current month of June 2024, was drawn from Statutory Revenue of N142.5bn, Value Added Tax of N523.98bn, N15.69bn from Electronic Money Transfer Levy, N472.19bn from Exchange Difference and Augmentation of N200bn, bringing the total distributable amount for the month to N1.36tn.
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CBN Governor Affirms 1,000 Staff Exited Voluntarily Without Pressure
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Our investigators taking bribe – EFCC Chairman admits
The Chairman, Economic and Financial Crimes Commission, Mr Ola Olukoyede, has said some of the investigators are in the habit of demanding bribes from crime suspects, thus eroding the integrity of the agency.
Olukoyode warned the erring anti-graft agency’s investigators that they would be dealt with if they failed to retrace their steps with the policy’s guidelines, which are erected on responsibility, accountability, and transparency.
The EFCC boss made this known to the Commission’s members of staff during his New Year address at the Headquarters in Abuja.
President Bola Tinubu appointed Olukoyede as the EFCC helmsman in October 2023, following the suspension of Abdulrasheed Bawa in July, over suspected infractions while in office.
He told the agency staff that the public views about their operations are not friendly, saying, “At this point, I need to strongly reiterate the issue of discipline, integrity and sense of responsibility in the way we do our work. Public opinions about the conduct of some of our investigators are adverse. The craze and quest for gratification, bribes and other compromises by some of our investigators are becoming too embarrassing and this must not continue.
“Let me sound a note of warning in this regard. I will not hesitate to wield the big stick against any form of infraction by any staff of the Commission. The Department of Internal Affairs has been directed to be more ardent in its work and monitor every staff in all their engagements. The image of the Commission is too important to be placed on the line by any corrupt officer.”
Earlier in his address, the anti-graft agency’s boss urged the staff to be up and doing, as he added that the development of the country depends on the competence of the Commission in dealing with corruption.
Olukoyede said, “As you would recall, our new policy drive is premised on a three-pronged agenda and blueprint. The first plank of the agenda is properly focusing on the mandate of the EFCC. All over the world, the major objective of the war against corruption and financial crimes is to drive economic development and create wealth and job opportunities for the populace. We need to come to these realities and operate by them. Our nation is in dire straits. We need to continue to do everything possible to stimulate the revenue profile of Nigeria.
“There is no agency of government as crucial to the nation’s quest for growth and development as the EFCC. We have all it takes to bring up the profile and developmental index of our nation. I urge all of you to be steadfast and committed to this clarion.”
He urged the staff to adhere to the rule of law, and strife to promote the image of the agency and protect the reputation of the country, in order to attract foreign investors, with the direct aim of boosting the economy of Nigeria.
“The second plank of our policy direction is putting modalities in place for running the administration and governance of the nation at various levels in a most responsible, accountable and transparent manner as well as building and promoting the international image and reputation of Nigeria in the eye of the world as a country that is worthy of attracting foreign direct investments. To achieve all these, preventive mechanisms against corruption, adherence to the rule of law and engagement of diverse publics in the nation in the fight, are imperative,” he stated.
“I equally talk about the overarching need for a transactional credit system as a potent means of keeping corruption at bay. We need to encourage this and motivate Nigerians in this area. I want to particularly harp on the preventive modality which is the centerpiece of our new engagement. We are already building strength in this area through the restructuring of the layers of the Commission. I want every staff to be in tune with the new arrangement.”
Speaking about the arrest and bail guidelines, the EFCC boss said, “Let me also talk about the review of the arrest and bail guidelines which I expect everyone to be familiar with by now. The review is informed by the need for us to conform with international best practices in law enforcement.
“We are a civilised anti-graft agency. Arrest and bail would henceforth be done in line with the rule of law. Our investigators should particularly take note of this. It is important for us to understand the dynamics of the world in the area of law enforcement. Change is the most permanent fact of life. We should not be seen to be resisting changes in our work.
“We are mindful of the increasing need for the welfare of staff and steps are being taken in this regard. I may not talk about specifics. However, the new year promises to bring smiles on the faces of staff across all the Commands. We will continue to do our best to put all of you at your best. However, to whom much is given, much is expected.
“Lastly, I have always said that we are all privileged to be staff of the EFCC. There is this Latin phrase that says, noblesse oblige, meaning, nobility demands responsibility. This is the crux of the matter. We should dignify the privilege of being EFCC staff with proportionate responsibility. It is both a duty and an obligation. I wish you all the best in the New Year.”
The Legal Attache of the United States’ Federal Bureau of Investigation (FBI), Jack Smith, hailed the appointment of Olukoyede as the EFCC boss, when he paid him a courtesy visit, in November last year, praising him that “the rebranding and other positive initiatives are good.”
EFCC is currently investigating the alleged N37.1 billion fraud under the former Minister of Humanitarian Affairs, Disaster Management and Social Development, Saddiya Umar Faruq.
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Read reaction of Nigerians to N30m fees in Lagos school
By Kayode Sanni-Arewa
Charterhouse, a British independent school located in the Lekki area of Lagos State, has once again sparked controversy over its fees, drawing criticism from Nigerians on social media.
According to its website, the Charterhouse Family of Schools has been a leading name in British education for over 400 years. The Lagos campus, the first African branch of Charterhouse UK, admitted its first set of students in September 2024, catering to Year 1 through Year 6 pupils.
The school previously faced criticism in April 2024 for its tuition fees, which were reportedly as high as N42 million per year, alongside a N2 million non-refundable registration fee. This sparked widespread backlash, with many questioning the affordability of the institution for the average Nigerian family.
The debate resurfaced on Thursday following a video shared on X.com by user #itzbasito, captioned, “This is what the inside of the most expensive school in Lagos looks like. It costs N42 million per year.”
The video, attributed to Charterhouse, however, claimed that tuition and accommodation cost less than N30 million. The post has since garnered over 9,200 interactions on X.com, with many Nigerians criticising the costs, stating that even N30 million is excessively high.
One user, #TheWaleOrire, tweeted on Friday, “If the government can’t regulate school fees in primary and secondary schools, how can we achieve standardised universal basic education? There’s absolutely no reason why any secondary school in Nigeria should be charging N42 million per year.”
He added, “This only widens the gap between the lower, middle, and upper classes, turning education into a luxury for the rich instead of a right for every child. We need urgent reforms to bridge this inequality.”
Other users echoed similar sentiments, arguing that the fees primarily catered to the wealthy elite.
#OAAdeniji wrote, “There is no way anyone in Nigeria, earning in Naira, will be paying N42 million per year for a secondary school student, no matter what they are being taught. This is more than outrageous.”
Another user, #toofighting, remarked, “You’d find that the students are mostly children of expatriates, and those fees are paid by the companies their parents work for. Most Nigerian parents cannot pay that sum out of pocket.”
Similarly, #rusticfunmi commented, “N42 million per annum just so some people can feel superior that their children will be taught by whites… sorry, ‘expatriates.’”
In contrast, some users defended the school, arguing that it caters to a specific segment of society.
#Arsenicscot tweeted, “They don’t have the majority as their market target. All these una complain na for una pocket. When admission commences, the school will be filled; it won’t be scanty. The owners of the school know the segment of the population they are targeting. They won’t beg for students.”
Another user, #Treazyblaq, added, “If they can afford it, why not? These schools offer more than just education; they’re valuable for networking and building connections that can benefit the future. It’s an investment, not just in education but in opportunities and overall growth.”
The video also detailed the school’s boarding arrangements, stating that students would share rooms with three others, each having their own bed and private space. This sparked additional criticism, with some questioning the value provided.
#SandraAdaeze4 commented, “N30 million a year only to share a room with four other students.” Similarly, #citiii added, “For that amount, there is no reason why each student shouldn’t have their own room or, at worst, two per room.”
Charterhouse’s website details its tiered fee structure for founding students, with tuition ranging from N16.1 million for Years 1–2 to N24 million for Year 9. Weekly boarding costs an additional N5 million, while full boarding is N7 million per year.
PUNCH reported in August 2024 that the Founding Head and Director of Education at Charterhouse, John Todd, clarified misinformation regarding the school’s fees.
He said, “In April, there was an online reaction to our school fees, which sparked a lot of discussion, with some people reacting to the figure of N42m. I want to set the record straight: our fees are currently N26m, not N42m. We’ve never charged N42m.”
The Punch
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