News
FG, states, LGs shared N1.1 trillion in August – FAAC
The Federation Account Allocation Committee (FAAC) shared N1.1 trillion to the federal government, states and Local Government Councils (LGCs) for August.
A communiqué by the FAAC at its September meeting said the N1.1 trillion total distributable revenue comprised statutory revenue of N357.398 billion, value added tax (VAT) of N 321.941 billion and electronic money transfer levy (EMTL) of N14.102 billion.
It also comprised exchange difference revenue of N229.568 billion and augmentation of N177.092 billion.
READ ALSO
- Nigeria Bans Honorary Degree Holders from Using ‘Dr’ Title
- Mercedes G63 Kills Six Cows in Abuja Highway Crash
- Saka Sends Arsenal to First Champions League Final Since 2006
- Shaibu Calls for Stronger Inter-Agency Collaboration as NIS Produces Nigeria’s First Certified Marathon Medical Director
- Job Vancancy: Moniepoint Job Vacancies in Abuja and North Central Nigeria
The communiqué said total revenue of N1.48 trillion billion was available in August 2023.
“Total deductions for cost of collection was N58.755 billion, total transfers and refunds were N254.046 billion, and savings was N71 billion.
“Gross statutory revenue of N 891.934 billion was received for the month of August 2023. This was lower than the N1.1 trillion received in the month of July by N258.49 billion.
“The gross revenue available from VAT was N345.727 billion. This was higher than the N298.78 billion available in the month of July by N46.938 billion,’’ it said.
It said that from the N1.1 trillion total distributable revenue, the federal government received N431.245 billion, the state governments received N361.188 billion, and the LGCs received N266.538 billion.
“A total sum of N26.473 billion (13 per cent of mineral revenue) and N14.657 billion (13 per cent of savings from NNPCL) were shared to the relevant states as derivation revenue.
“From the N357.398 billion distributable statutory revenue, the federal government received N173.102 billion, the state governments received N87.800 billion, and the LGCs received N67.690 billion.
“The federal government received N48.291 billion, the state governments received N160.971 billion, and the LGCs received N112.679 billion from the N321.941 billion distributable VAT revenue,” it said.
The communiqué said the N14.102 billion EMTL was shared among the three tiers of government, with the federal government receiving N2.115 billion, states N7.051 billion, and the LGCs N4.936 billion.
“The federal government received N114.445 billion from the N229.568 billion exchange difference revenue, the state governments received N58.048 billion, and the LGCs received N44.752 billion.
“The sum of N12.027 billion (13 per cent of mineral revenue) and N0.296 billion (13 per cent of savings from NNPCL) went to the relevant states as derivation revenue,’’ it said.
It said that from the N177.092 billion augmentation, the federal government received N93.292 billion, the state governments received N47.31
19 billion, and the LGCs received N36.481 billion.
“In the month of August, VAT, import and excise duties and EMTL increased considerably while petroleum profit tax (PPT), companies income tax (CIT), oil and gas royalties recorded significant decreases.
“The balance in the Excess Crude Account (ECA) was 473.75 million dollars,” it stated.
(NAN)
News
Nigeria Bans Honorary Degree Holders from Using ‘Dr’ Title
The Federal Government has officially banned recipients of honorary degrees from using the “Dr” title as a prefix to their names, in a move aimed at curbing the misuse and politicisation of academic honours.
The directive was announced on Wednesday by the Minister of Education, Tunji Alausa, following a Federal Executive Council (FEC) meeting held at the Presidential Villa in Abuja.
Speaking to State House correspondents, Alausa expressed concern over what he described as the growing abuse of honorary doctorate awards across the country.
“The recent trend we’ve seen with the award of honorary degrees has revealed a growing abuse and politicisation of this academic privilege,” he said.
“We’ve seen awards being used for political patronage, for financial gain, as well as the conferral of awards on serving public officials, which, as part of the ethics of honorary degree awards, should not happen.”
New Directive Takes Effect
Under the new policy, individuals conferred with honorary doctorate degrees will no longer be allowed to use “Dr” as a prefix in any official, academic, or professional setting.
Instead, recipients are required to clearly state the full honorary designation after their names—for example, John Doe, Honorary Doctor of Letters (D.Litt)—rather than adopting the “Dr” title.
The government clarified that only individuals who have earned doctoral degrees through academic study or are certified medical practitioners will retain the legal and professional right to use the “Dr” prefix.
Move to Restore Academic Integrity
The decision is part of broader efforts by the Federal Government to restore credibility and integrity to Nigeria’s education system, particularly in the awarding of honorary degrees.
Education stakeholders have long raised concerns over the proliferation of honorary doctorate awards, with some institutions accused of granting such honours without strict academic or ethical standards.
Observers say the new regulation is expected to discourage the commercialisation of honorary degrees and reinforce the distinction between earned academic qualifications and ceremonial recognitions.
Follow BONA NAIJA for more
Abuja
Mercedes G63 Kills Six Cows in Abuja Highway Crash
A luxury Mercedes-Benz G-Class G63 AMG was involved in a late-night crash on a major highway in Abuja, killing six cows and sparking renewed concerns over road safety and enforcement of grazing laws in the Federal Capital Territory.
The incident occurred around 8 p.m. on Monday,
according to eyewitness accounts, when the high-speed SUV collided with a herd of cows that had reportedly strayed onto the roadway. A video circulating on social media shows the aftermath, with the white cows lying across the dark highway as traffic officials worked to manage the situation.
As of the time of filing this report, there were no confirmed injuries to the driver or any passengers in the vehicle. Unverified reports on social media suggested that the SUV sustained only minor damage despite the severity of the collision.
The accident has reignited debates over the continued presence of cattle on major roads in Abuja, despite the 2017 ban on open grazing introduced by the Federal Capital Territory Administration. The policy was designed to curb frequent clashes between herders and communities, as well as prevent traffic disruptions and accidents caused by roaming livestock.
Residents and road users have repeatedly raised concerns about the enforcement of the grazing ban, noting that cows are still often seen along highways and within urban areas of the capital. Monday night’s crash is the latest in a series of such incidents, highlighting ongoing gaps in regulation and compliance.
Authorities are yet to release an official statement on the crash or confirm whether any action will be taken regarding the presence of the cattle on the highway.
WATCH VIDEO
Follow BONA NAIJA for more
Jobs
Job Vancancy: Moniepoint Job Vacancies in Abuja and North Central Nigeria
Leading Nigerian fintech company Moniepoint has announced six new job openings across Abuja and several states in the North Central region, expanding its workforce in compliance, technical operations, sales, and security management.
The vacancies cut across multiple departments, reflecting the company’s continued growth in agent banking, SME solutions, and digital financial infrastructure services.
Available Positions
Field Risk & Internal Control Officer (North Central)
- Team: Compliance
- Location: FCT, Nigeria
The role focuses on monitoring operational risks, enforcing internal control standards, and ensuring compliance across field operations in the region.
Apply Here
Hardware Engineer
- Team: Advanced Technical Operations
- Location: FCT, Nigeria
Successful candidates will handle hardware installation, maintenance, troubleshooting, and technical support for field operations.
Apply Here
Implementation Officer (North Central)
- Team: Moniebook Business Management Tools
- Locations: Benue, Plateau, FCT
This role involves onboarding merchants and ensuring smooth deployment of Moniepoint’s business tools across assigned regions.
Apply Here
Inbound Sales Officer (Abuja)
- Team: Moniebook Business Management Tools
- Location: FCT, Nigeria
The position focuses on handling inbound customer inquiries, converting leads, and supporting sales growth for Moniepoint business solutions.
Apply Here
Regional Lead, Corporate Security (North)
- Team: Moniepoint MFB
- Locations: FCT, Kano
The role oversees corporate security operations, risk prevention strategies, and protection of company assets across northern Nigeria.
Apply Here
Regional Lead, Field Risk & Internal Control (North)
- Team: Compliance
- Location: FCT, Nigeria
This leadership position is responsible for coordinating regional risk management teams and strengthening internal control systems.
Apply Here
The hiring drive comes as fintech companies in Nigeria continue to expand their physical and digital operations across underserved regions, particularly in agent banking and SME support services.
Moniepoint, one of the fastest-growing fintech firms in the country, has steadily increased recruitment in technical, compliance, and field operations roles over the past year.
With these openings, Moniepoint is strengthening its presence in Abuja and northern Nigeria while scaling its financial services infrastructure across the country.
Follow BONA NAIJA for more
Business
Nigerians Slam Moniepoint CEO Over ‘Talent Quality’ Remarks Amid Hiring Debate
Comments by Tosin Eniolorunda, CEO of Moniepoint, have sparked a heated debate online after he questioned the quality of Nigeria’s talent pool while discussing his company’s hiring challenges.
Speaking at the The Platform Nigeria on May 1, Eniolorunda said the fintech firm had advertised over 500 vacancies since 2024 but struggled to find qualified local candidates. He revealed that by 2025, the company reversed its local-only hiring policy due to the shortage.
“I used to feel Nigerians are really bright… but we are still struggling to find Nigerians to fill those roles. They don’t meet global standards,” he said, attributing the gap to factors such as social media distractions, cybercrime, hookup culture, and weaknesses in the education system.
Backlash and Counterarguments
His remarks triggered swift backlash from Nigerians, particularly within the tech community, with many accusing local companies of failing to invest in talent development.
Critics argued that unlike global firms, Nigerian tech companies rarely offer structured, paid internship programs or training pipelines to groom young professionals. Some pointed to examples of international companies like Oracle Corporation, where internships and early talent programs serve as entry points into full-time roles.
Others shared personal experiences of being rejected by local firms despite strong resumes, while noting that Nigerian professionals continue to secure roles in global companies such as Amazon.
A recurring sentiment online was that many Nigerian companies demand “global-standard talent” but are unwilling to offer competitive compensation or career development opportunities.
Industry Perspective
Supporters of Eniolorunda’s stance, however, pointed to the realities of scaling a fast-growing fintech company in a competitive global market. They cited brain drain, limited specialized skills, and increasing demand for top-tier expertise as genuine challenges facing Nigerian startups.
Analysts say the controversy highlights a broader issue within Nigeria’s tech ecosystem balancing expectations between employers and job seekers, while addressing gaps in education, training, and remuneration.
The debate mirrors ongoing tensions around talent development, compensation, and hiring practices in Nigeria’s fast-evolving tech sector.
As companies expand and compete globally, the question of how to build, retain, and fairly reward talent is likely to remain a central issue.
i
Follow BONA NAIJA for more
News
Outrage as Soldier Assaults Journalist Over Traffic Dispute in Lagos
A Nigerian soldier has allegedly assaulted a journalist, Fakoyejo Olalekan, during a traffic control operation in Lagos State, triggering widespread public condemnation after video footage of the incident surfaced online.
The clash occurred on May 2 near Pleasant Event Centre in Ikeja, where personnel of the Nigerian Army were reportedly directing heavy traffic.
According to eyewitness accounts, the altercation began after Fakoyejo remarked to passengers that a soldier’s handling of a motorcyclist had caused an unnecessary delay. The comment allegedly angered one of the soldiers, who ordered everyone out of the vehicle.
The situation escalated when the soldier reportedly slapped and shoved the journalist, and briefly reached for a piece of wood before bystanders intervened to prevent further escalation.
Video clips circulating on social media show at least two soldiers involved in the confrontation. During the incident, Fakoyejo’s phone screen was also seen shattered on the pavement. No serious injuries were reported.
The footage has since triggered widespread criticism online, with many users calling for accountability and questioning the conduct of military personnel during civilian traffic enforcement duties.
As of May 4, the Nigerian Army had yet to issue an official response despite being tagged in multiple public complaints and posts about the incident.
Follow BONA NAIJA for more
-
Jobs3 weeks agoGermany Embassy Abuja Announces Job Vacancy
-
Jobs3 weeks agoResearch Interviewers Job: Jhpiego Hiring Across 36 States & FCT
-
News3 weeks agoSupreme Court Dismisses David Mark’s Application, Deepening ADC Leadership Crisis Ahead of 2027 Polls
-
Music Video3 weeks agoFally Ipupa & Wizkid Ignite Charts with ‘JAM’ Video from XX Album
-
Politics2 weeks ago2027: Obi, Kwankwaso Supporters Launch ‘OK Movement’ Ahead of ADC Presidential Primary
-
News2 weeks agoCaptured Boko Haram Suspect Alleges Links to Senior Military Figure in Viral Interrogation Video
-
Politics3 weeks agoADC National Convention: Security Beefed Up as 3,000 Delegates Elect New NWC
-
Sports3 weeks agoChampions League Shockers: Real Madrid, Liverpool Out as 2026 Semi-Final Lineup Emerges
-
Politics3 weeks agoADC Concludes Convention, Ratifies Mark-Led NWC Ahead of 2027 Push
-
Entertainment3 weeks agoLagos Court Clears Pretty Mike, Says NDLEA Failed to Prove Drug Charges



