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Federal Government ,States,LGA’s Share 1.289 Trillion Naira For The Month Of September

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The Federation Account Allocation Committee (FAAC), at its October 2024 meeting chaired by the Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, shared a total sum of N1.298 Trillion to the three tiers of government as Federation Allocation for the month of September, 2024 from a gross total of N2.298 Trillion.

From the stated amount inclusive of Gross Statutory Revenue, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL), Exchange Difference (ED and Augmentation of N150.000 billion, the Federal Government received N424.867 Billion, the States received N453.724 Billion, the Local Government Councils got N329.864Billion, while the Oil Producing States received N90.415 Billion as Derivation, (13% of Mineral Revenue).

The sum of N80.993 Billion was given for the cost of collection, while N878.946 Billion was allocated for Transfers Intervention and Refunds.

The Communique issued by the Federation Account Allocation Committee (FAAC) at the end of the meeting indicated that the Gross Revenue available from the Value Added Tax (VAT) for the month of September 2024, was N583.675 Billion as against N573.341 Billion distributed in the preceding month, resulting in a increase.

From that amount, the sum of N23.347 Billion was allocated for the cost of collection and the sum of N16.810 Billion given for Transfers, Intervention and Refunds. The remaining sum of N543.518 Billion was distributed to the three tiers of government, of which the Federal Government got N81.258 Billion, the States received N271.759 Billion and Local Government Councils got N190.231 Billion.

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Accordingly, the Gross Statutory Revenue of N1.043 Trillion received for the month was lower than the sum of N1.221 Trillion received in the previous month by N177.426 Billion. From the stated amount, the sum of N56.878 Billion was allocated for the cost of collection and a total sum of N862.136 Billion for Transfers, Intervention and Refunds.

The remaining balance of N124.718 Billion was distributed as follows to the three tiers of government: Federal Government got the sum of N43.037 Billion, States received N21.829 Billion, the sum of N16.829 Billion was allocated to LGCs and N43.021 Billion was given to Derivation Revenue (13% Mineral producing States).

Also, the sum of N19.213 Billion from Electronic Money Transfer Levy (EMTL) was distributed to the three (3) tiers of government as follows: the Federal Government received N2.767 Billion, States got N9.222 Billion, Local Government Councils received N6.456 Billion, while N0.768 Billion was allocated for Cost of Collection.

The Communique also disclosed the sum of N462.191 Billion from Exchange Difference, which was shared as follows: Federal Government received N218.515 Billion, States got N110.834 Billion, the sum of N85.448 Billion was allocated to Local Government Councils, N47.394 Billion was given for Derivation (13% of Mineral Revenue).

It further disclosed of the Augmentation of N150.000 Billion which was shared as follows:
Federal Government received N70.020 Billion, the States got N40.080 Billion and the LGCs received N30.900 Billion.

Oil and Royalty, Excise Duty, Electronic Money Transfer (EMTL) and CET levies increased considerably. While Value Added Tax (VAT) and Import Duty increased marginally. Petroleum Profit Tax (PPT) and Company Income Tax (CIT) and others recorded significant decreases.

According to the Communique, the total revenue distributable for the current month of September 2024, was drawn from Statutory Revenue of N124.716 Billion, Value Added Tax (VAT) of N534.518 Billion, N18.445 Billion from Electronic Money Transfer Levy (EMTL), N462.191 Billion from Exchange Difference and Augmentation of N150.000 Billion, bringing the total distributable amount for the month to N1.298 Trillion.

The balance in the Excess Crude Account (ECA) as at October 2024 stands at $473.754

In his opening remarks, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, restated the President Bola Ahmed Tinubu-led Administration’s commitment to implementing policies, programmes and initiatives that will enhance revenue generation with a view to enhancing the overall well-being of Nigerians in line with contemporary realities.

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Bank of Ghana Appoints Prof. Bashir to Chair Islamic Banking Council

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By Yusuf Danjuma Yunusa

The Bank of Ghana has appointed Professor Bashir Aliyu Umar, a distinguished Islamic scholar from Nigeria’s Bayero University, Kano (BUK), as chairman of its newly constituted council for interest-free (Islamic) banking operations.

Governor Johnson Pandit Asiama formally inaugurated the council members during a brief ceremony in Accra. Professor Umar, a seasoned lecturer in Islamic studies at BUK, will lead the body in ensuring that Ghana’s non-interest banking sector operates in full compliance with Sharia law and its associated ethical principles.

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The appointment marks a significant step for Ghana’s financial sector, underscoring the central bank’s commitment to diversifying its banking landscape amid the rapid global expansion of Islamic finance.

Umar’s selection also highlights the increasing reliance on expert scholarly oversight to maintain regulatory integrity and religious adherence within this growing alternative banking model.

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MURIC Writes ICPC, Demands Access to Elrufai

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By Yusuf Danjuma Yunusa

The Muslim Rights Concern, MURIC, has formally requested permission from the Independent Corrupt Practices and Other Related Offences Commission, ICPC, to visit former Kaduna State Governor, Nasir El-Rufai, who is currently in the custody of the anti-corruption agency.

MURIC made the request in a letter submitted to the ICPC on Tuesday, August 18, 2026, by the chairman of its Abuja branch.

The group said the visit was intended to enable its representatives to meet with the former governor and assess his condition while in custody.

According to the organisation, a three-man delegation has been nominated to undertake the visit. The delegation comprises MURIC’s Executive Director, Prof. Ishaq Akintola; the chairman of the Abuja branch, Ustadh Yunus Salahudeen; and the branch’s assistant secretary, Shehu Ahmad Lemu.

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MURIC urged the ICPC to grant the delegation access to El-Rufai, stressing that the request was made in line with its civil liberties advocacy and concern for the welfare and rights of persons in detention.

The group noted that Mr El-Rufai had been in ICPC custody since Monday, February 16, 2026, following his detention by the anti-corruption commission.

MURIC said that, as of Tuesday, August 18, 2026, the former governor had spent approximately six months and two days in the custody of the commission.

The organisation did not disclose the specific conditions it intended to assess during the proposed visit, nor did it state whether the request was prompted by any particular complaint concerning El-Rufai’s treatment in custody.

The former Kaduna governor has been under scrutiny by anti-corruption authorities over allegations linked to his administration in the state. His continued detention has also attracted public attention, particularly given the length of time he has spent in custody.

MURIC’s latest request adds a civil liberties dimension to the ongoing case, with the organisation seeking direct access to the former governor through a formally constituted delegation.

The group said it was awaiting the response of the ICPC to its request.

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President Tinubu Appoints Abel Olumuyiwa As Head Of Service

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President Bola Ahmed Tinubu has appointed Mr Abel Olumuyiwa Enitan as the Head of the Civil Service of the Federation, effective August 27, 2026.

Mr Enitan succeeds Mrs Didi Esther Walson-Jack, who will retire soon from the Federal Civil Service upon attaining the statutory retirement age of 60.

Mr Enitan, from Osun State, is the most senior Permanent Secretary in the Federal Civil Service.

He has served as Permanent Secretary for seven years and seven months, working at the Ministry of Police Affairs, the Ministry of Humanitarian Affairs, and the Office of the Vice President. He is currently the Permanent Secretary in the Federal Ministry of Education.

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He brings considerable institutional experience and a deep understanding of how the Federal Civil Service works to his new responsibility.

President Tinubu expresses his profound appreciation to Mrs Walson-Jack for her distinguished service to the nation and for the reforms, impact and innovations witnessed in the Civil Service during her tenure.

The President wishes her a fulfilling and successful life after service and conveys the nation’s gratitude for her years of dedicated and impactful public service.

President Tinubu charges the incoming Head of the Civil Service of the Federation to consolidate on the reforms and innovations already underway, deepen professionalism and efficiency across the service, and build a more effective and responsive Civil Service capable of delivering on the administration’s Renewed Hope Agenda.

The President further urges Mr Enitan to lead a Civil Service that is professional, merit-driven, accountable, innovative, and responsive to Nigerians’ needs and aspirations.

Enitan was born on December 12, 1966. He had his secondary education at Ajibode Grammar School, Ibadan and the College of Arts and Science, Ile-Ife. He later attended the University of Lagos and graduated in 1988 with a B.Sc. in Finance and Banking.

In 2015, Enitan obtained an M.Sc. in Public Policy Analysis from Nasarawa State University, Lafia.

 

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