latest
Billions Shared! Federal Government Bags ₦818 Billion While States Pocket ₦759 Billion In Massive May FAAC Payout!.
In June 2026, the Federation Account Allocation Committee (FAAC) announced the distribution of ₦2.3 trillion in revenue to the three tiers of government, marking an increase from the ₦2.25 trillion shared in April. Bawa Mokwa, the Director of Press and Public Relations at the Office of the Accountant-General of the Federation, confirmed that this amount includes ₦1.611 trillion in statutory revenue and ₦688.785 billion from Value Added Tax (VAT).....KINDLY READ THE FULL STORY HERE▶
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Total Revenue: The total gross revenue for May reached ₦3.39 trillion.
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Adjustments: Before distribution, ₦123.54 billion was deducted for collection costs, and ₦971.61 billion was accounted for through transfers and refunds.
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Statutory vs. VAT Performance: While gross statutory revenue rose by ₦273.62 billion to reach ₦2.65 trillion, VAT revenue experienced a decline, falling by ₦62.94 billion from April’s ₦806.61 billion to ₦743.66 billion in May.
Distribution to Government Tiers From the total ₦2.3 trillion distributable pool, the allocation was divided as follows:
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Federal Government: Received ₦818.68 billion total.
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State Governments: Received ₦759.14 billion total.
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Local Government Councils: Received ₦534.27 billion total.
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Derivation Revenue: Benefiting states were allocated ₦188.132 billion, representing 13 percent of mineral revenue.
Detailed Breakdown of Revenue Sources
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Statutory Revenue (₦1.611 trillion total): The Federal Government received ₦749.801 billion, states received ₦380.309 billion, and local governments received ₦293.202 billion.
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VAT Revenue (₦688.785 billion total): The Federal Government received ₦68.87 billion, states received ₦378.83 billion, and local governments received ₦241.07 billion.
Mokwa noted that while collections for Companies Income Tax, Petroleum Profit Tax, oil and gas royalties, and several other duties saw notable growth, there was a recorded downturn in collections for VAT, excise duty, and Common External Tariff levies.
entertainment
HEARTBREAK IN AROCHUKWU! Tears Flow Freely As Alexx Ekubo’s Body Arrives For Final Farewell!.
On Thursday, mourners including family, friends, and colleagues assembled in Arochukwu, Abia State, to welcome the remains of late Nollywood actor Alexx Ekubo as funeral proceedings began. The actor’s body arrived in a convoy, stopping briefly at the Eze Arochukwu palace before being transported to his family home.....KINDLY READ THE FULL STORY HERE▶
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Passing and Schedule: Alexx Ekubo passed away on May 11 at 40 years old, with his burial scheduled for June 18 in Arochukwu.
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Community and Industry Presence: Local residents, along with Nollywood stars and other sympathizers, held a procession through the village to honor the actor. Many mourners wore T-shirts featuring Ekubo’s image or carried his photographs.
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Notable Attendees: Among those paying their respects were celebrities such as Ini Edo, Omoni Oboli, Yomi Casual, and his close friend, IK Ogbonna.
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Cause and Family: The actor reportedly died following a private struggle with kidney cancer and is survived by his wife, parents, and siblings.
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Funeral Rites: Following the burial service and interment, a reception will be held at the Mary Slessor School in Amanagwu Village, Arochukwu.
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Service of Songs: Earlier, numerous Nigerian entertainment industry figures attended a service of songs for the late actor on June 10, 2026.
latest
PEACE IN OUR TIME? From ‘Bombing’ To ‘Billion-Dollar Investment’—The Shocking Details Of The New U.S.-Iran Accord!.
The United States and Iran have entered into a historic memorandum of understanding, marking a significant step toward ending months of regional conflict. The agreement, which took immediate effect, sets the stage for a 60-day negotiation period to finalize a binding peace accord, with a formal ceremony to initiate these technical discussions scheduled for Friday in Switzerland.....KINDLY READ THE FULL STORY HERE▶
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Economic Support: The United States and regional partners have committed to a $300 billion reconstruction and economic development package for Iran to aid in rebuilding infrastructure and reviving the economy.
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Nuclear Program: Iran has reaffirmed that it will not develop or procure nuclear weapons. Furthermore, the two nations agreed to resolve the future of Iran’s enriched uranium stockpile through a mechanism involving International Atomic Energy Agency-supervised down-blending, while the U.S. pledged to halt new sanctions or military deployments in the region pending a final deal.
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End to Hostilities: The parties, along with their allies, have committed to an immediate, permanent cessation of military operations across all fronts, including Lebanon, while pledging to respect regional sovereignty and territorial integrity.
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Lifting Sanctions and Blockades: The U.S. has agreed to remove its blockade on Iranian ports, with a full exit planned within 30 days of the agreement. Additionally, the U.S. will terminate sanctions, unfreeze restricted assets, and issue Treasury waivers to allow for the export of Iranian crude oil and related services, such as banking and transportation.
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Strait of Hormuz: Iran has committed to reopening the strategic Strait of Hormuz to ensure the safe passage of commercial vessels, with full traffic expected to be restored within 30 days.
The memorandum was signed by U.S. President Donald Trump and finalized with the signatures of Iranian leadership, with mediation support provided by Pakistani Prime Minister Shehbaz Sharif. The final peace settlement is expected to receive endorsement through a binding United Nations Security Council resolution to ensure international legal compliance.
latest
JUSTICE AT LAST! 5-Year Legal War Over Dr. Tosin Ajayi’s Multi-Billion Naira Estate Finally Ends!.
A Lagos State High Court in Ikeja has concluded a nearly five-year legal dispute regarding the estate and marital status of the late Dr. Tosin Ajayi, founder of First Foundation Hospital. In her ruling, Justice Oluwayoyin Odusanya declared Adenike Oluwayemisi Ajayi the sole lawful widow of the deceased.....KINDLY READ THE FULL STORY HERE▶
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Legal Status of Marriage: The court affirmed that Mrs. Ajayi’s monogamous marriage to Dr. Ajayi remained valid until his death in 2020, ruling that a prolonged separation does not constitute a legal dissolution of marriage.
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Rejection of Helen Prest’s Claims: The court dismissed claims by former beauty queen Helen Prest, who asserted she was also a spouse through a Kalabari customary marriage.
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Lack of Evidence: Justice Odusanya described Prest’s customary marriage claim as an “afterthought,” noting her inconsistent past descriptions of her relationship with the deceased and the total lack of documentary or photographic evidence.
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Invalidity of Second Union: Furthermore, the court found that even if a ceremony had occurred, any such union would have been invalid because Prest was still legally married to her previous husband at the time she claimed to have married Dr. Ajayi.
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Resolution of Estate: The judgment grants Mrs. Ajayi and her children all requested reliefs, including her entitlement to one-third of the personal estate and exclusive rights to apply for letters of administration.
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