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The federal government has said it is considering the review of the revenue sharing formula for the three tiers of government.
The Federal Government says it will set up a committee in the coming week to review the revenue sharing formula for Federal, States and Local Governments due to current economic realities.
Benue State Governor Samuel Ortom on Friday said states are willing to pay the N30,000 national minimum wage but would do better if the revenue sharing formula undergoes an upward review.
The Revenue Mobilisation Allocation and Fiscal Commission on Sunday said there was no going back on the on-going probing of Money Deposit Banks to ascertain the amount of money they collected on behalf of revenue generating agencies of the government.
More than 1,500 concerned Nigerians, Socio-Economic Rights and Accountability Project (SERAP), BudgIT and Enough is Enough Nigeria (EiE) have filed a lawsuit asking the Federal High Court to “restrain, prevent and stop the National Assembly Service Commission from paying the incoming members of the 9th National Assembly individually and/or collectively over N4.68 billion as ‘welcome package’.”
The Economic and Financial Crimes Commission, EFCC, Ilorin Zonal Office has commenced investigations into the alleged illegal payment of about N400 million to some members of the Kwara State House of Assembly and the State Executive Council members before the expiration of their tenures.
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), says it will soon commence probe of banks over stamp duties collection as it expects to recover more than N100 billion from the probe.
The Federal Inland Revenue Service (FIRS) remitted about N4.63 trillion to the Federation Account between January and November this year, revenue collection figures submitted to the Federal Ministry of Finance have shown.
The Nigeria Customs Service (NCS) monthly revenue profile submitted to Fed-eration Account Allocation Committee (FAAC) revealed the Service remitted the sum of N653.47 billion to the federation account within 11 months duration (January and November) 2018.
The Socio-Economic Rights and Accountability Project has urged President Muhammadu Buhari to “intensify his government crackdown on corrupt money and recovery of other illicit wealth by public officials and institutions to fund the proposed N65,000 national minimum wage by the Nigerian Labour Congress (NLC), if he is to fulfil the needs of ordinary Nigerians who continue to struggle to make ends meet, and whom he has called his ‘constituency.’”
Civil Society Organisations (CSOs) have requested for an audit of N1.5 trillion received by the National Assembly (NASS) between 2005- 2014 as well as clarity on extra allowance paid to legislators beyond the approved amount by the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC).
A Federal High Court in Lagos on Tuesday, ordered that hearing notices be issued and served on the National Assembly and others in a suit by Nigerian Bar Association (NBA) Second Vice President Monday Ubani.
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) says the nation lost about $21 billion in revenue in the last 20 years to non-review of Production Sharing Contracts (PSCs).
Justice Chuka Obiozor of the Federal High Court, Lagos, on Tuesday, adjourned the hearing of a suit filed by two lawyer, Monday Ubani and John Nwokwu, against the Senate and House of Representatives over jumbo salaries.
The Federal Government, states and local governments shared N701 billion as revenue for the month of April, the Permanent Secretary, Ministry of Finance, Mr Mahmoud Isa-Dutse, said on Wednesday in Abuja.
The House of Representatives has called on the Federal Government to suspend the planned sale of its 49 per cent share capital at the Nigerian Liquified Natural Gas (NLNG).
Kwara State Governor AbdulRahman AbdulRazaq on Sunday lamented the death of 17 students in an auto crash on their way back to the state from Kano, describing the incident as a painful one that could have been prevented.
The Association of Nigerian Aviation Professionals (ANAP) on Sunday said that aviation unions would continue to kick against planned concession of some major airports across the country by the Federal Government.
The Cross River State governor, Professor Ben Ayade, has deplored the upsurge in communal crisis in the state, stressing that this menace has been impeding the development.
Rasheedat Ajibade played an outstanding role in Avaldsnes’s 1-0 victory over Roa in their Norwegian Toppserien game on Saturday.
The world must work together to extinguish the fires ravaging Brazil’s Amazon rainforest, Pope Francis said in his weekly address to thousands of people gathered in St. Peter’s Square on Sunday.
Police in Hong Kong have used tear gas for the first time in about 10 days to try to break up fresh anti-government protests.
Wilfred Ndidi believes Leicester City should have claimed the three points against Chelsea in their Premier League game on Sunday.
Alain Giresse has left his job as coach of Tunisia, after nine months and having guided them to the semi-finals of the Africa Cup of Nations (AFCON) in July.
The Nigeria Security and Civil Defence Corps (NSCDC) in Ondo State decorated no fewer than 74 newly-promoted officers with new ranks on Friday in Akure.
Federal High Court in Abuja has restrained the Independent Corrupt Practices and other related offences Commission (ICPC) and the Attorney General of the Federation (AGF) from seizing or interfering with the assets and properties belonging to former Zamfara State Governor Abdulazeez Yari.