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FG, States, LGCs share N647bn

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The Federation Accounts and Allocation Committee (FAAC) meeting which was declared inconclusive yesterday, was today concluded and revenue figures presented by the AGF was adopted and shared among the three tiers of Government.

The acceptance of the figures by the members of FAAC followed consultations made by the Minister of Finance, Accountant-General of the Federation with some States’ Governors and representatives of States’ Commissioners of Finance.

Accordingly, a total sum of N647.390 billion was shared as FAAC allocation among the Federal, States and Local Government Councils as revenue for the month of February 2018.

The  communiqué issued by the Sub-Committee of Federation Accounts Allocation Committee (FAAC), Office of the Accountant-General of the Federation, indicated that the gross statutory revenue received for the month is N557.943 billion and  is higher than N538.908 billion  received in the previous month by N19.035 billion. The shared amount comprise  the Month’s Statutory distributable revenue of N557.943 billion and the  Value Added Tax of N89.447billion making up the sum of  N647.390 billion.

Accordingly, from Net Statutory Allocation, the Federal Government received  N257.927 billion representing (52.68%); States received N130.824 billion (26.72%); Local Government Councils received N100.860 billion representing (20.60%); while the Oil Producing States received N57.357 billion as 13% derivation revenue. Meanwhile, FIRS, Nigeria Custom Service and DPR received the sum of N14.554 billion as their cost of collection and FIRS refund.

Furthermore, from the Revenue available from the Net Value Added Tax (VAT), Federal Government received N12.880 billion (15%); States received N42.935 billion (50%) while the Local Government Councils received N30.054 billion (35%).

The communique further explained that there was an increase in the average price of crude oil from $57.71 to $63.08 per barrel and an increase in export sales of 2.8 million barrels which resulted in increased revenue from Export sales of $194.39 billion. It further stated that other issues which negatively affected the Crude oil production and resulted to shut-ins and shut-downs are pipelines maintenance and repairs. Furthermore, significant increases were recorded in Petroleum Profit Tax (PPT) while revenues from Import Duty, Companies Income Tax (CIT) and Value Added Tax (VAT) decreased considerably in the month under review.

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Prince Harry And Meghan Markle Arrive Nigeria Today, May 10th

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The Duke and Duchess of Sussex came into Nigeria for a private visit following an invitation by the Chief of Defence Staff, Gen. Christopher Musa.

The Director of Sports, Defence Headquarters, DHQ, Air Vice Marshal Abidemi Marquis, said the founder of Invictus Games will spend three days in Nigeria and would interact with wounded soldiers and their families.

He said the visit scheduled from 10th to 13th May 2024 would help wounded soldiers in their recovery efforts.

Marquis said: “Because we realised that 80 per cent of our soldiers have been involved in this recovery programme, they are getting better.

“Their outlook on life is positive. You know, when you are engaged in, you experience a permanent disability, you know, issues, it affects your mental health and also your outlook on life.”

Prince Harry and Meghan who are already in Nigeria, First made a visit to children at the Lights Academy in Abuja, Nigeria.

Here are pictures.

Prince Harry and Meghan at Light Academy In abuja

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RIMA Foundation Clocks 20 Years

…as the founder, Dr. Oyedokun clocks 50!

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Dr Ayodeji Oyewole Oyedokun of RIMA Foundation
Dr Ayodeji Oyewole Oyedokun

RIMA Foundation is set to mark two decades of promoting access to information, raising public consciousness on the need for proper management and security of records and information, and encourages the overall development of the information management community for the benefit of humanity and the industry.

Today, virtually all organizations, regardless of size, possess and manage a legacy of records and information, accumulate a rapidly growing store of records/information, and anticipate a future that is mostly, but not entirely, electronic. 

It’s estimated that more than 90% of the records/information being created today are electronic. 

Coupled with the overwhelming growth of electronic messages – most notably e-mail and instant messaging – the management of records/information has become a critical business and social issue. 

How that information is managed has significant business, legal, and technology ramifications. Ultimately, it doesn’t matter what medium is used to create, deliver, or store records/information when determining if content is a record and should be managed accordingly. 

Now, individuals and organizations also produce a vast range of important records/information – such as letters, reports, emails, marketing materials, studies, engineering drawings, handwritten consultation notes, and committee minutes – all of which constitutes an organization’s memory of its processes and procedures, and its knowledgebase of its expertise, experience, and specializations.

For this reason, Records and Information Management Awareness Foundation (RIMA Foundation), was established as a brainchild of Dr Ayodeji Oyewole Oyedokun, the founder / chairman – Board of Directors at The International University of Information Management [IUIM], who is also celebrating his 50th birthday.

RIMA foundation’s drive is to bring together knowledge and create awareness about information management and security to improve the information management/security awareness globally thereby promoting transparency and accountability in both public and private organisations. 

“For many organizations and individuals, records/information will continue to be important for as far ahead as they can see even though they will rely increasingly on knowledge management technology”, Dr. Oyedokun said.

RIMA Awards now International Management Merit [IDMM] Awards 

The Foundation has also set up plans to appreciate the data​ & information management community through the International Management Merit [IDMM] Awards. 

Coincidentally, Dr Ayodeji Oyewole Oyedokun will be marking his 50th birthday – it is a double celebration for him!

Formerly known as the RIMA Awards, this esteemed event celebrates excellence and innovation in Data, Information, Content, Archives, Records, Document Management & Security.

Since its inception in 2005, the RIMA Awards have been the beacon of recognition, highlighting outstanding efforts in promoting proper management and security of records and information. 

As the largest event of its kind in Africa, these awards symbolize excellence and innovation in the IM, IT, and business world.

“By recognizing these efforts, we aim to emphasize the importance of effective records and information management systems, which are crucial for improved decision-making, operational efficiency, and compliance with legal and regulatory requirements”, he said.

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Ekiti Students Caught On Camera Bullying A Fellow Student, Have Been Expelled

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The management of Bamidele Olumilua University of Education, Science and Technology, Ikere-Ekiti (BOUESTI) has expelled two of its students filmed assaulting a female colleague.

A video recently went viral on social media of a student hitting her fellow student with a stick that was handed to her by another student. The bully had kept insinuating that she would draw blood from her victim.

Reacting to the incident, the Public Relations Officer of the institution, Temitope Akinbisoye, in a statement released, said the students caught in the video were summoned on Monday, May 6 and were meted the appropriate punishment for their actions

”In accordance with our institution’s policies and extant regulations, the students who were captured in the viral video appeared before the Students’ Disciplinary Committee at its emergency meeting held on Monday, May 6, 2024, for interrogations and appropriate recommendations, the report of which has been submitted to the University authorities.

The University authorities condemn in strong terms, any form of violence or misconduct in our University or by any of our constituents. Such behaviour is entirely inconsistent with the values we uphold and the standards of respect and dignity that we expect from all members of our University.

Miss Opemiposi Precious BOLAJI with Matriculation No. 10232, a 100L Mass Communication student who was beating her colleague with a stick and threatening to inflict bodily harm on her for allegedly destroying her 3-year old love affair with her boyfriend was found guilty of misconduct and flagrant breach of her matriculation oath and consequently EXPELLED with immediate effect.

Miss Genesis OSARO, a 100L Mass Communication student with Matriculation No. 10257, who provided the stick with which Gloria AJAYI was beaten, was found guilty of misconduct (as an accomplice) and flagrant breach of her Matriculation oath and consequently EXPELLED with immediate effect.

Miss Gloria AJAYI, a 100L Mass Communication student with Matriculation No. 10295, who was seen being beaten in the viral video but did not retaliate or engage in fisticuffs with her tormentors, was EXONERATED.“

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