1. FG, States and Local government shares N547 Billion naira.
Late On Wednesday, The Federation Accounts Allocation Committee (FAAC) shared the three tiers of government. A total sum of N547.31billion naira as federation allocation for the month of May in the year 2020.
The ministry stated that from this amount, including the value added tax(VAT)exchange and bank charges recovered.
The three tiers, Federal allocations was said to be distributed accordingly:
The Federal government :N219.8bn.
The state Government :N152.44bn.
The local Government: N114.1bn.
FAAC’s virtual meeting was held at abuja on Wednesday night.
According to the statement given:
"Oil producing states received N37.2billion naira as induction {13 per cent of mineral revenue}".
"However, Federal Inland Revenue Refund/Allocation to North East Development Commission was N23.958bn".
The statement also says: "Federal Government got N14.4 billion naira, States government got N48.3billion natural, while Local Government had N33.8billion naira.
While the cost of collections for Funds and allocations to NEDC was said to be 7.2 billion naira.
2. Buhari bans foreign killer herdsman immediately.
The Governor of Kano State, Abudullahi Ganduje has called the Federal Government to ban foreign herdsmen from operating in the North. Later, The House of Representatives persuade The President, Muhammadu Buhari to stop the entry of herdsmen from West African countries into Nigeria.
3. Sanwo olu reconstitutes Lagos security employment funds.
Lagos State Governor, Mr Babajide Sanwo Olu, acquiesce to the reconstitution the Lagos State Security Trust Fund and Employment trust fund. In a statement made late on Wednesday by on Sanwo-Olu’s Chief Secretary, Mr Gboyega Akosile.
He said "the new appointments were demanded by the vacancies in the two organisations".
4. Debt weakens market: Naira subside to 452/$.
On Wednesday, The dollar exchanged for N452 at the parallel market over hypothesizing by operators in the market and the country’s rising foreign debt also had effects on it.
5. Troop kill gunmen In benue
Reports has it on Tuesday that some troops of the joint military operation known as Whirl Stroke engaged into a battle with some herdsmen in Gyungwu Amua village,Benue state.
Reportedly killing two and injuring one. A witness said that “The armed herders ran into the troops and opened fire on the soldiers and there was heavy exchange of gunfire".
The troops killed two of the herders and injured one of them.
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