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BREAKING; Federal Govt, states, LGAs share N2.35 trillion in August, highest ever

The Federal Government, states, and local Government Councils (LGs) have shared N2.25 trillion from the federation account as revenue for August.

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The disbursement was made during theo Federation Account Allocation Committee (FAAC) meeting held in Abuja on Wednesday.

According to a communiqué issued by FAAC, the N2.25 trillion distributable revenue comprised N1.48 trillion statutory revenue and N672.90 billion Value Added Tax (VAT).

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It also comprised N32.34 billion Electronic Money Transfer Levy (EMTL) and N41.28 billion from Exchange Difference.

The communiqué said that the total gross revenue available in August was N3.64 trillion.

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“From this amount, N124.84 billion was deducted for collection costs, while N1.29 trillion was set aside for transfers, interventions, refunds, and savings,” it said.

It said that VAT revenue rose to N722.62 billion in August compared to N687.94 billion in July, showing an increase of N34.68 billion.

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“From the N1.48 trillion statutory revenue, the Federal Government received N684.46 billion, state governments received N347.17 billion, and LGs received N267.65 billion.

“Oil-producing states got N179.31 billion as 13 per cent derivation revenue,” the communiqué said.

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It said that out of the N672.90 billion VAT revenue, the Federal Government received N100.94 billion, state governments received N336.45 billion, and LGs received N235.52 billion.

“From the N32.34 billion EMTL revenue, the Federal Government received N4.85 billion, states got N16.17 billion, while local government councils received N11.32 billion.

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“From the N41.28 billion Exchange Difference, the Federal Government received N19.80 billion, state governments received N10.04 billion, and the LGs received N7.74 billion.

“Oil-producing states got N3.70 billion as derivation revenue,” it said.

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The communiqué further said that gross statutory revenue in August stood at N2.84 trillion, a drop of N231.91 billion compared to N3.07 trillion recorded in July.

It said that oil and gas royalties, VAT, and CET levies recorded increases, while revenues from Petroleum Profit Tax (PPT), Companies Income Tax (CIT), import duty, EMTL, and excise duty declined. (NAN)

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Former President sentenced to five years in prison by Court

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Former President sentenced to five years in prison by Court

South Korea’s former president Yoon Suk Yeol was on Friday sentenced to five years in prison for obstruction of justice.

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The Seoul Central District Court found that the 65-year-old conservative, with the help of the presidential security service, had tried to prevent his own arrest and deleted multiple documents related to the investigation against him.

Yoon shocked the nation by imposing martial law on December 3, 2024, amid a budget dispute with the opposition, plunging the country into a political crisis.

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He justified the drastic measure as necessary to protect South Korea’s democratic order and accused the left-leaning opposition of being infiltrated by communists with ties to China and North Korea, though he provided no evidence for these claims.

In a separate trial, prosecutors have sought the death penalty for Yoon on charges of incitement, with a verdict expected on February 19.

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While the death penalty remains legally in force in South Korea, it has not been carried out for nearly 30 years.

Yoon’s actions previously alarmed international investors and led to withheld investments, damaging the reputation of South Korea as a political and economic model for the region.

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Since last summer, South Korea has been led by President Lee Jae Myung, a left-leaning centrist and long-time political rival of Yoon. (dpa/NAN)

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JUST IN; Imam that famously shielded 262 Christians from death during Plateau attack is dead

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JUST IN; Imam that famously shielded 262 Christians from death during Plateau attack is dead

The Imam of Nghar village, Abubakar Abdullahi in Barkin Ladi Local Government Area of Plateau State, who famously sheltered 262 Christians during communal violence, has passed away.

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The Imam’s Son Saleh Abubakar, confirmed the development to Daily Trust on Friday, saying that the cleric died on Thursday night at the Plateau Specialist Hospital in Jos.

The Son said, his father “died ten days after he was admitted” in the hospital.

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“He was initially diagnosed with a heart problem. He’d go for check-ups and return. His health hadn’t been stable since the heart disease diagnosis.”

Imam Abubakar died at the age of 90. He is survived by 19 children – 12 sons and seven daughters.

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Tecall that in June 2018, during violent, faith-based communal clashes that affected 10 villages in Barkin Ladi, Imam Abubakar sheltered 262 Christians in his mosque and residence until the violence subsided, saving them from certain death.

His courage earned him widespread recognition, including the International Religious Freedom Award presented by the United States Department of State in 2019.

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The late cleric will be laid to rest on Friday (today) in Nghar village after the Juma’at prayers.

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Ex–Chief of Army Staff files N1.5 billion defamation suit against rtd Major General, others

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Ex–Chief of Army Staff files N1.5 billion defamation suit against rtd Major General, others

A former Chief of Army Staff, retired Lt.-Gen. Faruk Yahaya, has filed a defamation suit against retired Maj.-Gen. Danjuma Ali-Keffi, Arise Broadcasting Limited and Sahara Reporters Media Group.

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The Court documents indicate that Yahaya instituted the action on Wednesday, at the Federal Capital Territory (FCT) High Court, Abuja, following the expiration of a demand notice served on the defendants.

The spokesperson for Yahaya, retired Brig.-Gen. Sani Usman, a former Army spokesperson, made this known in a statement on Friday in Abuja.

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In the suit, the retired army chief was seeking, among other reliefs, formal retractions and public apologies over publications he described as false and malicious, as well as monetary damages of N1.5 billion and N600 million respectively.

“The claimant contended that the publications and broadcasts unjustly linked him to allegations of terrorism financing, illegal mining and banditry, which he said injured his reputation, character and integrity.

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“The matter had been duly filed before the FCT High Court, Abuja, and the defendants had been served to enter appearance in line with the rules of court,” Usman disclosed. (NAN)

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