N-Power Stipends: Federal Government Receives Share of N682.060BN Allocation Payment Might Commence Soon

Payment might commence soon as the Federal Government on Wednesday confirmed receiving 52% of N682.060BN from August Allocation.
The Federation Accounts Allocation Committee (FAAC) disbursed the sum of N682.060BN to the three tiers of government in Nigeria.
The Permanent Secretary, Federal Ministry of Finance Dr. Mahmud Isa-Dutse, confirmed the disbursement via a virtual meeting.
The Federation Accounts Allocation Committee (FAAC) has shared a total of N682.060 billion August 2020 federation account revenue to the Federal, States and Local Government Councils and agencies.
In the time past, the office of the Accountant General of the Federation lacks funds needed to carry out payment, due to delayed allocation.
The Accountant General of the Federation is ready to make all outstanding Federal Government payment to workers including the stipends meant for Social Investment Programme (SIP).
The Office of The Accountant General of The Federation (OAGF) confirmed that, over 14,000 N-Power volunteers have been rejected by GIFMIS payment platform, but it has been resolved.
As a result of insufficient funds, payment were not made, but now that, Federal Government has received allocation for August, all is set for immediate disbursement of fund to appropriate sectors of the economy.

Sharing Formula of August Allocation

Federal Government received N251.948 billion from the gross statutory revenue of N531.830 billion;
State Governments received N 127.791 billion and
Local Government Councils received N98.522 billion.
Oil Producing States received N30.881 billion as 13% derivation revenue,
Cost of revenue collection and transfers collectively had allocation of N33.205 billion
The gross revenue available from the Value Added Tax (VAT) was N150.230.

October 1st: FG To Employ 50 Percent of NPOWER Beneficiaries

The Federal Government has disclosed that it will be employing over 50 percent of NPOWER Beneficiaries starting from October 1st.
This latest development was disclosed by a source in the Ministry of Humanitarian affairs, Sadiya Farouq.
According to the source, NPOWER beneficiaries should be on the look out for relevant information which would only be disclosed through the website is the scheme.”
“The NPOWER beneficiaries would be perfect to complement government effort in those areas where the federal government is looking to rebound the fledging Nigerian economy.”
The source told the daily news Nigeria that, “The exercise is billed to last for 5 days shortly after October the first independence celebration. No one should patronize touts but should constantly check notifications from the NPOWER verified information handles,” he added.
All batches are said to be included in this latest development.
https://thedailynewsngr.com/october-1st-fg-to-employ-50-percent-of-npower-beneficiaries/