Federation Account – InfoStride News

Exclusive: Reasons The Real Subsidies Are Not For The Poor, But The Rich – Femi Falana, SAN

Adewale A. — Fri, 23 Jun 2023 07:32:48 +0000

Globally, subsidies, whether for food, transportation, energy or housing, are part of good governance. So, the issue is not subsidies but who benefits from them. In Nigeria, subsidies are primarily for the rich, by the rich and for the rich. I will highlight a few, how they are being manipulated and how huge sums of [...]

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NNPC Paid N56.96bn Into Federation Account Last Month

David Folami — Mon, 08 Aug 2016 12:52:47 +0000

The Nigerian National Petroleum Corporation (NNPC) said it paid the N55.96 billion into the Federation Account in the month of June. This is contained in the corporation’s monthly financial report for the month of June released in Abuja on Sunday. The report said in parts: “NNPC transferred the sum of N55.96 billion into the Federation [...]

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Northeast Development Commission: Bill On Its Establishment Scales Second Reading

Wale Adebayo — Wed, 16 Dec 2015 00:10:35 +0000

A bill seeking the establishment of the Northeast Development Commission sponsored by Hon. Yakubu Dogara, the Speaker of House of Representatives, scaled a second reading on Monday. According to Hon. Dogara, the commission would be responsible for receiving and managing funds from the Federation Account allocation for the Northeast States of Adamawa, Gombe, Borno, Yobe, [...]

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Ebonyi Governor Promises To Continue Teachers’ Pay 15th Of Every Month, Calls For Review Of WAEC Performances

Ade Adewale — Mon, 14 Dec 2015 09:05:51 +0000

The Governor of Ebonyi State, Engr. David Umahi, has restated his commitment to the payment of teachers’ salaries on the 15th day of every month. Governor Umahi, who received a delegation of the state council of Nigeria Union of Teachers (NUT) at the EXCO chambers in Abakaliki, said his directive was in spite of the [...]

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More Than 300 Tax Collectors Recruited In Osun State To Enhance IGR

Ade Adewale — Mon, 14 Dec 2015 07:13:40 +0000

Governor Rauf Aregbesola-led state government of Osun has recruited more than 300 tax collectors tagged Tax Marshals. This is a drive to boost Internally Generated Revenue (IGR) in the face of dwindling revenue from the federation account to states. Addressing the newly recruited tax marshals in Osogbo, Osun State capital, at the end of a 3-day capacity building [...]

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Proposed Lafia Cargo Airport Will Be A Fulcrum For Effective Development – Governor Al-Makura

Wale Adebayo — Tue, 08 Dec 2015 09:47:04 +0000

The Governor of Nasarawa State, Tanko Al-makura, on Monday said the planned construction of a cargo airport in Lafia would add value to the economic well-being and revenue base of the state. Almakura said while receiving the panel on Environmental Impact Assessment (EIA) from the Federal Ministry of Environment in Lafia, that the project was [...]

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Retrench Workers Or Stop Payment Of N18,000 Minimum Wage, Governors Are Advised

Wale Adebayo — Fri, 04 Dec 2015 14:34:31 +0000

The chairman of the Nigerian Governors Forum and Zamfara state governor, Abdulaziz Yari, said on Thursday that irrespective of public condemnations, it would not be economically feasible to retain the same workforce and still pay the N18,000 minimum wage. According to him, funds allocated from the Federation Account could no longer sustain the expenses of [...]

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Federal Government Begins Probe Of NIMASA, NNPC, NPA, Others Over Naira Remittances

Wale Adebayo — Sat, 17 Oct 2015 08:34:33 +0000

FG has launched investigations into fraudulent practices carried out in government’s revenue generating agencies during the last administration. The probe, this time, is focused on the agencies that remitted naira denominations to the Federation Account instead of the actual dollar revenue. The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, informed the National Economic [...]

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Governors To Seek Further Bailout Fund From The Federal Government

Wale Adebayo — Tue, 21 Jul 2015 18:15:06 +0000

Despite sharing $2.1 billion dividend paid into the Federation Account by the Nigeria Liquefied Natural Gas (NLNG) company about three weeks ago, indications have emerged that Governors are set to press for another bailout fund from the Federal Government when the National Economic Council (NEC) meeting is convened at the Presidential Villa, Abuja. Some of [...]

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FG Bailout Not With States Yet – Ondo State Government

Wale Adebayo — Sat, 11 Jul 2015 16:15:13 +0000

Ondo State Government says it was yet to receive any bailout from the Federal government to pay outstanding workers salary. However, it received N2.2 billion accrued to it from taxes, being part of June allocation from the Federation account. At a joint media briefing addressed by the state’s Commissioner for Information Hon. Kayode Akinmade and [...]

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