News
RMAFC remitted N7.3tn to Federation Account in six months
The Revenue Mobilization Allocation and Fiscal Commission has disclosed that a total sum of N7.3tn accrued into the Federation Account between July and December 2023, indicating an increased revenue inflow.
It said the amount shared by the Federation Account Allocation Committee was remitted to the Central Bank of Nigeria under the caption “CBN Federation Account Component Statement”.
In a press statement signed by the RMAFC Chairman, Mr Mohammed Bello Shehu, and made available on Thursday in Abuja, the commission reported that the amount is higher than the N5.24tn realised during the first half of the year 2023.
According to Shehu, out of the total gross revenue inflows into the Federation Account, the sum of N1.69tn was transferred to the Exchange Gain Differential Account, thus leaving a balance of N5.475bn for distribution.
He added that from the amount stated above, the sum of N3.26tn was deducted as approved statutory deductions by the OAGF, leaving a net balance of N2.2tn for distribution within the three tiers of government in the period under review.
The chairman further explained that out of the N3.267tn statutory deduction indicated above, the sum of N2.251tn was transferred to the Non-Oil Excess Account as savings, thus leaving a net statutory deduction of N1.016tn with further augmentations for sharing among the three tiers of government received from some “reserve accounts.”
The statement added that within the period under review, the net sum of N4tn was shared within the three tiers of government.
In terms of percentages, the chairman stressed that “the statutory deduction in the second half of the year constituted 44.12 per cent of the total gross inflow into the Federation Account in the six-month period, which was higher than the first half deductions of 42.31 per cent (inclusive of transfer to the Non-Oil Excess Account).”
On remittances by Revenue Generating Agencies, the RMAFC boss disclosed that out of the total gross revenue inflows into the Federation Account, the Nigerian National Petroleum Company Limited remitted N874 64bn in the second half of the year as against the zero-remittance made in the first half of the year.
Additionally, the Nigerian Upstream Petroleum Regulatory Commission remitted the sum of N1.56tn while the Federal Inland Revenue Service remitted the sum of N3.65tn.
The government received a boost in its earnings following the removal of fuel subsidy and the unification of the foreign exchange market by the current administration.
Although, these policies brought more money to government coffers, citizens are at the receiving end of the harsh economic realities.
In a related development, the RMAFC chairman has advocated that the cost of collection received by revenue-generating agencies should henceforth be tied to their performance as a way of increasing revenue generation and remittances.
This proposal, outlined by the RMAFC chairman is meant to incentivise RGAs to be more proactive in generating revenue for the Federation Account.
He explained that such a move would further encourage RGAs to devise new strategies for enhancing revenue generation and remittances so as to increase the cost of collection.
“We strongly advocate that payment of the cost of collection to RGAs should be tied to revenue performance. In other words, each RGA should receive a cost of collection commensurate with the revenue generated against its revenue target, as provided for in the Appropriation Act,” he concluded.
“What is needed now is politics that can turn our anxieties about life and the future into hope,” the 64-year-old told reporters.
Takaichi, a former internal affairs minister and close ally of slain ex-premier Shinzo Abe, revealed her bid during a meeting with former Prime Minister Taro Aso, now the LDP’s supreme adviser. Click link to continue reading.
Japanese conservative politician Sanae Takaichi on Thursday announced her intention to run for the leadership of the ruling Liberal Democratic Party (LDP), a contest that could make her the country’s first female prime minister, Kyodo News reported.
Takaichi, a former internal affairs minister and close ally of slain ex-premier Shinzo Abe, revealed her bid during a meeting with former Prime Minister Taro Aso, now the LDP’s supreme adviser.
“What is needed now is politics that can turn our anxieties about life and the future into hope,” the 64-year-old told reporters. She is scheduled to outline her policies at a press conference on Friday.
Takaichi is considered one of the leading contenders in the Oct. 4 party election, alongside Farm Minister Shinjiro Koizumi. A Jiji Press poll of 2,000 respondents showed Koizumi ahead with 23.8% support, followed by Takaichi at 21%.
Other expected candidates include Chief Cabinet Secretary Yoshimasa Hayashi, former Foreign Minister Toshimitsu Motegi, and former Economic Security Minister Takayuki Kobayashi.
The LDP leadership vote was originally scheduled for 2027, the end of Shigeru Ishiba’s three-year term, but was moved up after Ishiba announced his resignation on Sept. 7 following his coalition’s defeat in July’s upper house election.
While stepping down as party president, Ishiba will remain prime minister until the LDP chooses a new leader – a role that in Japan’s political system is effectively equivalent to the premiership.
The atmosphere in River State has significantly stabilized following President Bola Ahmed Tinubu’s decision to lift the six-month state of emergency that had been in place.
Although the immediate tension has eased, the challenges that Fubara will face from the state assembly and local government are looming large.
These potential conflicts could ignite a new wave of political turmoil, threatening to plunge the state back into chaos. Click link to continue reading.
The underlying issues remain unresolved, leaving many apprehensive about the future of governance in River State.
Tinubu, in a statement he signed yesterday, declared that the emergency rule would end at midnight, clearing the way for Fubara, his deputy, Ngozi Nma Odu and members of the State House of Assembly led by Speaker Martins Amaewhule to resume duties today.
The president said he saw no reason for the state of emergency to continue a day longer.
A fresh prophecy from Prophet Julius Okonkwo, a cleric and the presiding pastor of Kingdom Seeker Ministries based in the United States, revealed that the storm is not yet over in Rivers State.
“This jubilation should wait; I am not seeing peace at the moment, no peace, no cohesion; everyone is in a mind game, the storm is not over, and there will be another brutal storm. For Fubara, the battle is not over; he’s not happy, and things won’t favour him. The governor would be in his office with folded arms, eating and refreshing, but he wouldn’t have governing power. He has not been forgiven; only time will tell,” said Okonkwo in his weekly message.
Michael Collins Ajereh, popularly known as Don Jazzy or Don Baba J, is a Nigerian record producer, singer, songwriter, entrepreneur and philanthropist.
Following the closure of Mo’ Hits record label, Don Jazzy set up Mavin Records. Here is everything you need to know about Don Jazzy’s bio and net worth.
Don Jazzy is the founder and CEO of Mavin Records, Nigeria’s largest music company that has generated hit songs for several of the country’s top singers.
Don Jazzy has produced several popular songs for a variety of musicians, including D’banj, Wande Coal, Tiwa Savage, and many more. He has received several accolades for his songs, including the Nigerian Entertainment Award for Song Producer of the Year.…click link for full details
President Bola Tinubu’s path to reelection is becoming increasingly challenging with each passing day.
The opposition is intensifying its efforts and developing comprehensive strategies aimed at unseating his government in the upcoming 2027 elections. With political tensions rising, the battle for power is shaping up to be fierce and closely contested. Click link to continue reading.
A civil society organisation, The Concerned Citizens of Nigeria (CCN), has petitioned US, UK to impose a travel ban and asset freeze on Zamfara Governor Dauda Lawal
Group accused Lawal of complicity, citing his own admissions of knowing bandits’ identities yet failing to act
CCN urged global action, asking the US, UK, EU, and Commonwealth to deny him entry, freeze assets, and send a strong message against leaders linked to terror.…click link for full details
News
“Muslims Are Not Slaves” – Pastor Can’t Appoint Oyo Chief Imam, MURIC Sends Strong Warning To Alaafin
The Muslim Rights Concern (MURIC) has rejected the claim by the Alaafin of Oyo, Akeem Owoade, that he has the exclusive right to appoint the Chief Imam of Oyo town.
MURIC’s founder and executive director, Ishaq Akintola, said on Wednesday that no law gives the monarch such power.
His words: “The Alaafin of Oyo, Oba Akeem Owoade claimed yesterday that he had the exclusive right to appoint the chief imam of Oyo town.
“The claim was contained in a statement issued by the Alaafin’s director of media and publicity, Bode Durojaiye, on Monday, September 15, 2025.
“We reject this statement. It is false, baseless and without any legal backing. What the Alaafin called his exclusive right is a baseless privilege now being abused by traditional rulers in Yorubaland. Alaafin is being economical with the truth.”
Akintola challenged the monarch to produce a legal instrument backing his claim, describing it as “illogical, irrational and laughable”.
“If he has the power to appoint the chief imam, does he also have the power to appoint the bishop of Oyo?” he asked.
He further stated: “Now, if he has no power to appoint the bishop, he cannot claim the power to appoint the chief imam. If he is relying on tradition, there is a difference between tradition and what the law says.
“By the way, what kind of tradition enslaves Muslims but gives Christians freedom. We reject a tradition that puts Muslims in chains. Muslims are not slaves.”
The MURIC director said Nigeria is a democracy and not a monarchy, warning the Alaafin to “respect himself and know his limits so that he can be adequately respected”.
He added that past practices cannot serve as justification.
“The tradition in the past was to trek to Makkah on foot. That has been abandoned. The incumbent Alaafin should stop clinging to a comatose practice,” he said.
Akintola argued that Owoade, being a pastor, has “no moral right to dictate who should lead the Muslims in Oyo”.
He said the Muslim community of Oyo should consult the Muslim Ummah of South West Nigeria (MUSWEN) before presenting a candidate for the role, stressing that the Alaafin’s blessing is “not mandatory”.
“To the Alaafin, Kabiyesi, your imperial majesty, you are the king over the whole of Oyo. You are king over the Muslims, the Christians and the traditionalists.
“Each group chooses its own leader. No law gives you exclusive right to choose the chief imam. Otherwise, show us evidence that you picked the Bishop. If you cannot pick the Bishop, how can you pick the imam? Stop impugning our dignity. Respect begets respect,” MURIC said.
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“Muslims Are Not Slaves” – Pastor Can’t Appoint Oyo Chief Imam, MURIC Sends Strong Warning To Alaafin
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