Home Blog Page 24

President Tinubu breaks silence on suspended CBN Governor, Godwin Emefiele

President Bola Ahmed Tinubu

President Tinubu has broken his silence on the suspended CBN Governor, Godwin Emefiele during an interactive session with Nigerians resident in France and neighbouring European countries.

Tinubu said the nation’s financial system under the suspended Emefiele was rotten.

He said many Nigerians abroad were unable to send money to their relatives because of the multiple exchange rates, saying all that have become a thing of the past.

President Bola Ahmed Tinubu

“Then the financial system was rotten. Few people making bags of our money and then you yourself, you stopped sending money home to our poor parents. Several windows… but that is gone now, is gone.

“The man is in the hands of authorities, something is being done about that, they will sort themselves out.”

HRM Awarieta preaches peace as Ewu Kingdom celebrates Odudu/Eharikpo festival …..As Osuivie warns impostor parading self as Ewu king to desist or …….

HRM Awarieta, Ewu Kingdom and women (King's Maids) making sacrifices of appreciation to the gods for protection during the Odudu/Eharikpo festival

His Royal Majesty, Bernard I. Awarieta, Ovie of Ewu Kingdom, Ughelli South local government area of Delta state, has advocated for peace and love among the people of Ewu-Urhobo Kingdom.

 

The monarch who made this statement while performing the traditional rituals across the various streets of Ewu Urhobo-Kingdom in line with the Odudu annual festival, has used this period to extend hands of fellowship to those who contested with him to join him in the development of the kingdom.

 

HRM Awarieta said the Odudu festival is a unique celebration that has always brought blessings to the land and young females that is attaining the age of marriage.

 

The Osuivie and Ahavwa kingmaker family, Olorogun Michael Ohwofaria, NNPC retiree and the oldest man of the Ahavwa kingmakers, Olorogun (Barr.) Akpephre Egalase, former Permanent Secretary, warned any impostor parading himself as the king of Ewu kingdom to desist from it or will face the wrought of the land.

HRM Awarieta, Ewu Kingdom and women (King’s Maids) making sacrifices of appreciation to the gods for protection during the Odudu/Eharikpo festival

The Osuivie, Olorogun Michael Ohwofaria and Olorogun (Barr.) Akpephre Egalase gave the warning while preforming an act of farming for HRM Awarieta for returning successfully from the river after performing the ritual of the Eharikpo festival

The duo said the festival they celebrating today is one of its kind, pointing out that in every community as enshrines in the 1979 constitution, only the kingmakers have the right to elect a king and that they have done following the due process of election, which has brought His Royal Majesty, Bernard Awarieta as Ewu traditional ruler on the 30th of May 2021.

They said the festival is dedicated for the period of circumcising their young ladies and as the king of Ewu kingdom, HRM Bernard Awarieta, has important role to play and that is what they have all witnessed.

Speaking further, they said, “This is a period for circumcised ladies and the ladies have to come out and dance and the name of the music with which they dance is called Odudu.

“The duration of this festival is normally seven days each year and it falls between the month of May and June. It is an annual event but the moon position determined the time of celebration. Our kingship is from the water, hence during the festival our king has to go and make presentation to the gods of the water.

“The king will enter the water up to the level of his chest to perform the rituals to the gods. There are stories in the old days if the king that the people elected by the kingdom enters that water and is not accepted by the gods of the water, such king will not come back, so while we were waiting for him our hearts were beating.

“After presenting what he has to the gods of the water, the king goes to the palace and that’s the happiness you see in the people. And anybody who is not elected and given the tusk by the Ahavwa kingmaker’s family cannot do the rituals and cannot dare go to the water.

“Only the Ahavwa kingmaker’s family are the people who empower the traditional ruler to perform this ritual, so anyone who chooses to perform the rituals will not succeed, not just going to pages of newspaper to parade oneself as king of Ewu kingdom, let him come and perform the rituals and wait to tell the story.

“There’s no way anyone will come to this community to do anything concerning the enthronement of a king, hence we are referring to anyone parading himself as king of Ewu kingdom and his cohorts, with publications everywhere are not known to Ahavwa kingmakers and Ewu kingdom.

“The women on white garments are called emeba (King’s Maids), going to different streets of Ewu community, making sacrifices of appreciation to the gods for their protection and also don’t forget that the Tusk was given by the king of the water, so this are women, agents representing the king of the water in our community.

“While the festival lasts, all sons and daughters have to be at home relaxing and enjoying their harvest with all their stores closed for the celebration of the festival.”

ACOMIN Calls On Govt. To Implement Effective Recruitment, Retention Strategies To Attract, Retain Skilled Healthcare Professionals

By ABEL JOHNGOLD ORHERUATA

The National Network of Civil Society Organizations working on the prevention, treatment and mitigation of the impact of malaria, and the promotion of immunization and better nutrition in Nigeria (ACOMIN), has called on the government to implement effective recruitment and retention strategies to attract and retain skilled healthcare professionals, who are always available to provide quality malaria and health services.


The group made the call during their media brief for the State Media Meeting on the Global Fund Malaria Community Led Monitoring Project they are implementing held at Orchid Hotels yesterday in Asaba.

Reeling out the successes recorded by ACOMIN for the period under review, Sir Austin Uwede, the Delta State Program Officer of ACOMIN urged government to prioritize the health of its citizens by taking swift and decisive action to enhance waste management systems to ensure efficient and effective waste disposal to prevent malaria.

Uwede said to prevent mosquitoes bites, “all members of the public should ensure that their environments are well-kept and void of stagnant water, waste-forming receptacles for water, and open water storage containers around where mosquitoes can breed.

“Members of the public should come together to channel stagnant water and desilting drainages that are silted during this season.
“Members of the public particularly heads of households should ensure proper use of mosquito nets to protect family members from malaria and use protective clothing if they must sit outside at night”.

Frowning at those that are using the treated mosquito nets for fish and snail farming and bagging bottles instead of malaria prevention it was made for in her remarks, Dr. Julie Aniah of the State Ministry Health, charged ACOMIN to discourage pregnant women from patronizing traditional birth attendance (TBA) to avoid challenges that some of the TBAs were not scientifically skilled to prevent damages such as tears, jaundice and infectious tools.

 

Dr. Julie Aniah warned pregnant women to desist from patronizing Traditional Birth Attendance during anti-natal that the danger outweighed the financial cost of a normal hospital and that Primary Health Cares are free in the State.

Also speaking, the leader of the State Advocacy Team Pastor Greg Sifor, appealed to relevant stakeholders at all levels to support Community Based Organizations (CBOs) implementing project towards elimination of malaria, COVID 19, Tuberculosis, HIV AIDS in communities across the State.

He noted that Malaria is a serious disease that can be life-threatening that can be prevented and treated, but if not diagnosed and treated promptly, it can progress to a severe form that is often fatal. That malaria is not contagious and cannot be transmitted from person to person. It is spread by female mosquitoes of the Anopheles species.

“Unhygienic living conditions provide breeding grounds for mosquitoes that carry malaria. In 2021, approximately 60 million Nigerians do not have access to clean water and safe sanitation facilities. This lack of basic amenities makes it difficult to maintain proper hygiene and dispose of waste appropriately, hindering efforts to eliminate malaria in Nigeria.

“When waste is not properly disposed of, it can block drains and cause flooding during heavy rainfall. These obstructions create stagnant pools of water, which become breeding habitats for disease- carrying mosquitoes. In addition, such conditions attract rodents and other animals that can also serve as hosts for malaria-carrying mosquitoes.

“To address the issue of unhygienic living conditions and prevent the spread of malaria, urgent action and collective effort from the public are needed. Sleeping under Insecticide-Treated Nets is crucial as they provide a physical barrier against mosquitoes, these nets are effective in reducing the risk of infection, especially for vulnerable groups like pregnant women and young children. Additionally.” Greg Sifor asserted.


While calling on the mass media to contribute to Nigeria’s goal of eliminating malaria by amplifying the following messages on behalf of ACOMIN, the leader of the State Advocacy Team disclosed that “As part of a national effort to address the challenges of Malaria in Nigeria, ACOMIN is working with Catholic Relief Services (CRS) on the ongoing Global Fund (GF) Malaria Grant, to continue implementing the civil society component. The grant is presently being implemented in the thirteen (13) GF-supported states namely Kaduna, Kano, Katsina, ligawa, Kwara, Niger, Taraba, Gombe, Yobe, Adamawa, Ogun, Osun, and Delta States. The project covers 8 LGAS in each state. In Delta state, the selected LGAS are Aniocha South, Oshimili South, Ughelli North, Ughelli South, Isoko North, Ndokwa West, Sapele, and Patani.

“On the grant, ACOMIN is using the CLM approach to engage community stakeholders to take ownership of health interventions, particularly on malaria, to identify gaps hindering effective malaria service delivery and to jointly prioritize their needs and advocate for improvement in malaria healthcare delivery.

“This initiative has brought about many advantages to each of the communities/wards where the project is being implemented. These include increased ingenuity, innovation in tackling challenges, identifying and addressing the root cause of failed interventions; and enhanced accountability and ownership among others.”

He concluded by enumerating some of the recorded successes of ACOMIN like Donation of 30 Plastic chairs to Emevor PHC in Isoko North LGA by the community; Procurement and donation of routine antenatal drugs to the Ovrode PHC in Isoko North LGA by the Community; Procurement and donation of Beddings to Evwreni PHC in Ughelli North Korea LGA, by the community; Repalirs of weighing scale and deployment of security personnel at Etua PHC by Ndokwa West LGA.

 

Other successes recorded by ACOMIN includes Provision of concrete slab at Otogor PHC in Ughelli North LGA, by the community and Repairs of collapse plumbing system at Ekiugbo PHC, in Ugheli North LGA, by the community. Just to mention a few.

Ikoyi $43m affair ends as EFCC withdraws court case on ‘national security grounds’

Justice Chukwujekwu Aneke, of the federal high court, Ikoyi Lagos, on June 9, struck out the money laundering case filed against Ayo Oke, the immediate past Director-general of the National Intelligence Agency NIA.

This followed a termination notice filed before the judge by the Economic and Financial Crimes Commission EFCC, who had earlier Oke to court over the discovery of $43 million, £27,000 and N23 million in a flat at Ikoyi, Lagos.

The anti graft agency told the court National Security informed its decision to stop the prosecution of the dismissed former DG.

Kayode Ajulo, lead counsel of Oke’s defence team concurred with the EFCC’s motion.

Former president Muhammadu Buhari reportedly approved the termination of the case before he left office.

IKOYI $43M

In April 2017, the EFCC informed the nation it had found $43 million, £27,000 and N23 million stashed in a flat on Osborne Road in Ikoyi after a tip-off from a whistle blower.

Investigations later traced ownership of the said cash to the NIA. In its defence, the Intelligence agency said the funds were part of the $289,202,382 collected for “special covert intelligence operations” from the account of the National Petroleum Investment Management Services (NAPIMS) at the Central Bank of Nigeria (CBN) in February 2015.

Public outcry on this compelled the federal government to set up a three-man panel headed by former vice president Yemi Osinbajo to look into the matter. The panel in its report, indicted Oke and recommended his dismissal, which was effected in October same year.

On January 20, 2019, Osinbajo said criminal allegations would be filed against Oke and Babachir Lawal, former secretary to the government of the federation, following a directive from Buhari.

But influential Intelligence community scholars including Emeka Anyaoku and the respected Professor Bolaji Akinyemi expressed concern over the move to dock Oke openly which they feared compromise the nation’s security operations.

Five On Missing Titanic Submarine Confirmed Dead In Tragic OceanGate Update

The five men on-board the missing Titanic vessel have now been confirmed dead.

OceanGate Explorations confirmed the deaths shortly after the US Coast Guard confirmed that debris was found.

The shocking news came just moments before a press conference led by United States Coast Guard’s Captain Jamie Fredericks took place.

A statement from OceanGate said: “We now believe that our CEO Stockton RUsh, Shahzada Dawood and his son Suleman Dawood, Hamish Harding and Paul-Henri Nargeolet have sadly been lost.

“These men were true explorers who shared a distinct spirit of adventure, and a deep passion for exploring and protecting the world’s oceans.

“Our hearts are with these five souls and every member of their families during this tragic time.

“We grieve the loss of life and joy they brought to everyone they knew.”

Atiku Presents Forensic Expert in Court to Give Evidence, Reveals Tool He Used To Detect ‘Electoral Fraud’ In 110 BVAS Deployed In FCT

Atiku Abubakar

On Thursday, the People’s Democratic party, PDP and its Presidential Candidate, Abubakar Atiku, presented a digital forensic expert, Mr Hitler Nwala, to testify on his reports which showed alleged “crime” associated with some Bimodal Voter Accreditation System (BVAS) machines deployed for the presidential election in the Federal Capital Territory, CT.

Atiku Abubakar

The Forensic Expert is his 26th witness. He tendered seven volumes of forensic reports and an nexus on findings arrived at after allegedly carrying out investigation on the functionality of 110 BVAS and i-rev devices in the federal capital territory through Chris Uche sSAN. This was after adopting his statement on oath which is his evidence in the petition.

According to him, the data he extracted from about 100 BVAS machines deployed in the FCT showed that criminal malpractice took place on the devices and the polling units he analysed, including PUs where the PDP flagbearer Atiku Abubakar won.

BVAS is a technological device that was deployed by INEC for accrediting voters and uploading scanned polling unit results during the 2023 poll.

Under cross-examination by INEC lawyer A.B. Mahmoud, he said the polling unit results contained in the BVAS machine for the FCT was deliberately deleted even though the FCT was not scheduled for governorship election.

But Mahmoud told him that his reports before the PEPC were false because he did not inspect all the BVAS machines deployed in the FCT.

The witness disagreed, saying “when you have a small sample space and you have a deviation, by the time you have a larger sample space, the deviation will be more.”

Mahmoud showed him about 3 BVAS machines to confirm if they were part of those he inspected.

The witness told the court he would not identify the devices shown to him by Mahmoud, explaining that having inspected the BVAS under review several weeks back, he was not in a position to state if they had been tampered with again.

Taking questions from President Bola Tinubu’s lawyer, Wole Olanipekun SAN, the witness admitted making typographical errors by giving different figures for some BVAS machines he inspected.

He also agreed with Olanipekun that the BVAS devices he inspected were the primary source of his forensic report.

“All your reports evolve around the 110 BVAS machines you inspected. Am I right?” Olanipekun asked, to which the witness responded in the positive.

The witness was further told that he embarked on his inspection exercise with the mindset that crime was committed at the elections, having tagged it “Crime Type”.

But Nwala replied, “It (the title) is a format of forensic report.”

Olanipekun further told the witness to “Tell my lord whether the crime you detected affected the polling unit where PDP won”.

“Yes,” the witness replied, adding that he is aware that Labour Party won the presidential election in the FCT and that he also included polling unit results won by LP in his report.

Forensic Expert told the court that as of the time of his inspection of the BVAS machines, nothing was intrinsically wrong with the device.

According to him, all the results in the 110 BVAS machines he inspected were deleted but he was able to recover them using a tool called “Celebral Physical Analyser.”

Under cross-examination by APC lawyer, Lateef Fagbemi SAN, the witness said he did not bring the tool to court.

He maintained that the polling unit results he mentioned were those on the BVAS machines, not those uploaded to the INEC Results Viewing Portal, IRev.

The witness added that he did not physically inspect the INEC Form EC8A.

After his testimony, he was discharged from the witness box.

PDP’s lawyer, Eyitayo Jegede SAN then tendered Form EC8As for Ogun (20 LGAs), Ondo and Jigawa states as part of the team’s evidence.

The five-man panel of the court led by Justice Haruna Tsammani, admitted them in evidence while adjourning the proceedings to Friday.

The PDP and Labour Party will be closing their cases on Friday.

Atiku Abubakar

FG may open Seme border for vehicle importation

Freight forwarders operating at Seme Border have written to the Federal Government demanding the opening of the border for vehicle importation.

The Director of Road Transport, Federal Ministry of Transportation, Ibrahim Musa, disclosed this at Seme during a meeting between officials of Nigeria and Benin organised by the Economic Community of West African States.

He explained that freight forwarders appealed to the former Minister of State for Transportation during his last visit to the border, asking for the reactivation of the border.

He said a memo prepared and sent to the Federal Government based on the request was approved by the Federal Executive Council.

The director said FEC had promised to leave the approval on reopening the border to the new government to act on.

He said, “I was here with the former Minister of State for Transportation and the freight forwarders pleaded that the border should be reactivated for free movement of goods and services. The minister made us prepare a memo to that effect. It was considered and sent to the government.”

Also speaking at the event, the Customs Area Controller in charge of Seme Command, Dera Nnadi, said the service had noticed a reduction in its revenue since the importation of vehicles was banned from the land borders.

He said, “The Honourable Minister of Transportation, the immediate past one, responding to some of our requests and from the stakeholders, promised to take them to the Federal Executive Council; one of them is how to fully open this border.”

Nnadi also said illegal checkpoints along the border corridors have been dismantled by customs, while the Border Control unit of the Nigerian Police Force has promised to do the same.

He urged the Federal Government to complete the highway from Lagos to Seme Border, saying the completion would grow trade and investment in the Abidjan-Lagos corridor.

The Seme Customs boss maintained that the corridor is important for the growth of trade, investment, cultural diversity, and peace in West Africa and the whole of Africa.

Comptroller Nnadi who is also a Co-chair of the Joint Border Post said, “Abidjan-Lagos Corridor is an important corridor for trade among West African countries, a melting point where our people share culture and religion. It is a very important place where we maintain relationships and peace with ourselves. It is important to keep the corridor alive.

We appreciate ECOWAS for its contribution to the growth of business in the corridor. While appreciating the Federal Ministry of Transportation for the ongoing rehabilitation of the highway, if the road is complete, it will improve trade.”

PRESIDENT TINUBU JOINS WORLD LEADERS IN PARIS TO TACKLE ISSUES OF POVERTY, DEBT, MACRON, GUTERRES CALL FOR NEW WORLD FINANCIAL ORDER

FGN

President Bola Ahmed Tinubu Thursday in Paris-France joined world leaders on the consensus for redesigning the global financial architecture, which will favour poverty reduction, debt restructuring or cancellation, and more consideration for vulnerable countries affected by climate change and Covid-19.

The President arrived at the venue of the event, Palais Brongniart, at 8.59 am (Local Time), for the opening ceremony of the High Level Summit for New Global Financing Pact and he was received by the French Minister of Europe and Foreign Affairs, Catherine Colonna.

Welcoming the world leaders to Paris, French President Emmanuel Macron, said the Summit would focus on drawing up a new financial order that will scale up finances and support developing countries for energy transition, poverty reduction, while respecting the sovereignty of each nation.

The French President noted that African countries had been at the receiving end of the major global challenges, with debt hangovers that hamper growth and development.

“Covid-19 pandemic brought lots of difficulties and now we are faced with the war in Ukraine that has been draining resources that should be channeled into human development,” he said.

Macron told the leaders from 50 countries, multilateral institutions and the private sector that justice and fairness must be imperative in redesigning the new world financial architecture, with more focus on the most vulnerable.

The French President listed four elements for consideration by the leaders, starting with an acknowledgement that reducing poverty would require collective efforts, with a more diverse and comprehensive framework.

“We must admit that no country can succeed alone in reducing poverty and protecting the planet,” he added.

Macron said the framework should be relevant to each country, and subregional roles included, with clear responsibilities and benefits, while multilateral institutions like the International Monetary Fund and World Bank must be re-engineered to be more people and solutions driven.

The French President noted that the private sector must be carried along in the new pact that seeks to harmonise growth, as they control most of the financial instruments that need to be liquified for more even development, especially on health, education and food security.

On behalf of the African countries, the President of Niger Republic, Mohammed Bazoum, said the new pact must be “urgent” and “essential” to Africa, and the framework should be “just” and “robust” in reflecting the reality of developing countries as partners.

Bazoum said the challenges of impoverishment and desertification had stimulated unrest in most countries, affecting peace and stability in sub-regions and the continent.

“In Africa, we need support for infrastructure, health, food security and education,” he stated.

UN Secretary General, Antonio Guterres, told the gathering of leaders that the high level summit would need more mobilisation and political will for redesign and implementation.

The UN scribe said many countries were still struggling from effects of Covid-19 and climate change, and the war in Ukraine had heightened sufferings.

Guterres said some African countries had been unable to service their debts, with indications that generations might be affected.

“African countries,” he said, “were not properly captured in the global order.”

He said the new global financial pact must address fragmentations and frustrations, and enable the kind of change that encourages debt relief, suspension of repayments, change of business models and more commitment from development banks, with guarantees.

The UN scribe said leaders must look beyond reforms, and accept the need for transformation.

“We are at a moment of truth and reckoning, and we can make it a moment of hope,” Guterres said.

Climate Activist, Vanessa Nakate, from Uganda, who called for a moment of silence for the helpless and hopeless across the world, said broken promises cost the lives of many in developing nations.

The Presidents and leaders of multilateral institutions and the private sector at the Summit went into syndicate sessions to discuss the new financial architecture.

President Tinubu will on Friday participate at the summit, which will unveil a New Global Financing Pact and mechanism for implementation.

FGN

WE’RE READY FOR BUSINESS, PREPARED TO WELCOME INVESTORS TO NIGERIA, PRESIDENT TINUBU TELLS AFREXIMBANK, EBRD PRESIDENTS IN PARIS

President Bola Ahmed Tinubu Thursday in Paris – France said ongoing reforms, starting with removal of fuel subsidy and streamlining of exchange rate, will be sustained for a more competitive economy that attracts Foreign Direct Investment (FDI), urging investors to take advantage of opportunities in Nigeria.

“We are ready for business, prepared to welcome investments,’’ he said, while receiving President and Chairman of the Board of Directors of African Export-Import Bank (Afrexim), Prof. Benedict Oramah and President of European Bank for Reconstruction and Development (EBRD), Odile Renaud–Basso, in separate meetings, on the sidelines of the Summit for New Global Financing Pact.

The President assured the delegation of AfreximBank Executives led by Dr Oramah that the Federal Government will continue to stimulate the economy with policies that support investments in areas of Nigeria’s competitive advantage, particularly agriculture.

“We need reforms for national survival,’’ he added, noting that it would take boldness and courage to reposition the economy, calling for more collaboration to solidify the economy.

“We must stimulate recovery for the growth and prosperity of our people, which will not be far away. Nigeria is ready for global business and our reform is total.

“Nigeria is blessed with human and material resources,’’ President Tinubu told the delegation, who had earlier listed areas of interventions to buoy the economy, like infrastructure, health, energy and agriculture.

The President of AfreximBank commended President Tinubu for the bold steps in removing the fuel subsidy and unification of the exchange rate, assuring the Nigerian leader of the full support of the financial and development institution on the ongoing reforms.

Dr Oramah said the bank was already building the first African Specialist Hospital in Abuja, and Energy Bank, pledging to inject more money into the economy to further build confidence of investors.

In the meeting with the EBRD, President Tinubu said, “We are challenged in terms of reforms, and we have taken the largest elephant out of the room with removal of fuel subsidy, and multiple exchange rates are equally gone. We are determined to open up the economy for business. Consider us a stakeholder in the Bank.’’

He told the EBRD President that Nigeria’s economy was too large and potent to be ignored, adding, “Ignoring Nigeria will be a peril to the universe.’’

Renaud-Basso said it would be a mistake for the development bank not to invest in Nigeria, after considering six potential economies for investment.

She explained that focus would be on the private sector, especially Small and Medium Scale Enterprises (SMEs).

FAAC Shares N786.161 Billion May 2023 Revenue to FG, STate and LGCs

FAAC

The Federation Account Allocation Committee (FAAC) has shared a total sum of N786.161 billion May 2023 Federation Account Revenue to the Federal Government, States and Local Government Councils.

This was contained in a communiqué issued at the end of the Federation Account Allocation Committee (FAAC) meeting for June 2023; chaired by the Accountant General of the Federation, Dr. Oluwatoyin Madein.

The N786.161 billion total distributable revenue comprised distributable statutory revenue of N519.545 billion, distributable Value Added Tax (VAT) revenue of N251.607 billion, Electronic Money Transfer Levy (EMTL) of N14.370 billion, and Exchange Difference revenue of N0.639 billion.

In May 2023, the total deductions for cost of collection was N38.238 billion and total deductions for transfers and refunds was N163.193 billion.

The balance in the Excess Crude Account (ECA) was $473,754.57

The communiqué stated that from the total distributable revenue of N786.161 billion; the Federal Government received N301.889 billion, the State Governments received N265.875 billion and the Local Government Councils received N195.541 billion. A total sum of N22.855 billion was shared to the relevant States as 13% derivation revenue.

Gross statutory revenue of N701.787 billion was received for the month of May 2023. This was higher than the sum of N497.463 billion received in the previous month by N204.324 billion.

From the N519.545 billion distributable statutory revenue, the Federal Government received N261.686 billion, the State Governments received N132.731 billion and the Local Government Councils received N102.330 billion. The sum of N22.798 billion was shared to the relevant States as 13% derivation revenue.

For the month of May 2023, the gross revenue available from the Value Added Tax (VAT) was N270.197 billion. This was higher than the N217.743 billion available in the month of April 2023 by N52.454 billion.

The Federal Government received N37.741 billion, the State Governments received N125.804 billion and the Local Government Councils received N88.062 billion from the N251.607 billion distributable Value Added Tax (VAT) revenue.

The N14.370 billion Electronic Money Transfer Levy (EMTL) was shared as follows: the Federal Government received N2.155 billion, the State Governments received N7.185 billion and the Local Government Councils received N5.030 billion.

From the N0.639 billion Exchange Difference revenue, the Federal Government received N0.307 billion, the State Governments received N0.156 billion, the Local Government Councils received N0.119 billion and the sum of N0.057 billion was shared to the relevant States as 13 percent mineral revenue.

According to the communiqué, in the month of May 2023, Petroleum Profit Tax (PPT), Companies Income Tax (CIT), Oil and Gas Royalties, Value Added Tax (VAT), Import and Excise Duties increased significantly, while Electronic Money Transfer Levy (EMTL) decreased marginally.

FAAC

TRENDING

LATEST