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FG, States, LGs Share N462.4b from FAAC in June

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FAAC disburses

By Modupe Gbadeyanka

Data released on Thursday by the National Bureau of Statistics (NBS) has revealed that the Federation Account Allocation Committee (FAAC) disbursed the sum of N462.36 billion to the three tiers of government in June 2017 from the revenue generated in May 2017.

The amount disbursed comprised of N317.56 billion from the Statutory Account; N64.81 billion from exchange gain; N79.99 billion from Valued Added Tax (VAT).

No allocation was refunded to the Federal Government from the Nigerian National Petroleum Corporation (NNPC) and no amount was also shared from the Excess Petroleum Product Tax (PPT) Account, the agency said.

It explained that Federal government received a total of N189.94 billion from the N462.36 billion shared.

States received a total of N128.89 billion and Local governments received N96.65 billion, the stat office added.

The sum of N26.96 billion was shared among the oil producing states as 13 percent derivation fund, the agency said in the report.

It noted that revenue generating agencies such as Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS) and Department of Petroleum Resources (DPR) received N3.67 billion, N7.76 billion and N2.24 billion respectively as cost of revenue collections.

Further breakdown of revenue allocation distribution to the Federal Government of Nigeria (FGN) revealed that the sum of N159.45 billion was disbursed to the FGN consolidated revenue account; N3.39 billion shared as share of derivation and ecology; N1.69 billion as stabilization fund; N5.69 billion for the development of natural resources; and N4.11 billion to the Federal Capital Territory (FCT) Abuja.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Economy

Commerce Dot Com Celebrates Landmark Feat with Triple Gold Victory at MPRA 2024

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KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 4 December 2024 – Commerce Dot Com Sdn. Bhd. (CDC) achieved an extraordinary milestone at the Malaysia Public Relations Awards (MPRA) 2024, taking home an unprecedented three gold awards for its outstanding campaigns. This landmark victory underscores CDC’s leadership in corporate communications and its unwavering commitment to excellence, ethics, and innovation. These accolades highlight CDC’s dedication to crafting narratives that champion ethics, innovation, and inclusivity in corporate communications.

CDC secured the Gold Award in the Public Affairs category for its Strong Ethics Nurture Integrity (SENI) campaign, which aimed to address procurement challenges and promote ethical practices.
CDC secured the Gold Award in the Public Affairs category for its Strong Ethics Nurture Integrity (SENI) campaign, which aimed to address procurement challenges and promote ethical practices.

The three awards were presented for the following submissions:

1. Best Use of Content – Gold Award
This campaign showcased CDC’s 25-year journey through a collaboration with neurodivergent artist Danial Khushairi. His artwork brought CDC’s transformation from pioneering Malaysia’s ePerolehan system to being a technological leader to life. By leveraging Danial’s art across branded merchandise, a microsite, and social media platforms, the campaign embodied CDC’s commitment to inclusivity and sustainability while capturing the essence of its growth and achievements.

2. Employee Communications- Gold Award
CDC breaks the stereotype of IT workers by instilling values that foster camaraderie, health, and a spur of adventure. Through their company values, CDC has nurtured an active workforce, engaging in events like ‘CDC Strides and an expedition to Kilimanjaro. Employees connected beyond the office, supporting communities, and living out values di collaboration and integrity. These efforts have not only strengthened CDC’s culture but also enhanced its brand visibility, making its 25th-anniversary celebration a milestone of unity, health, and appreciation for the outdoors.

3. Public Affairs – Gold Award
Aimed at addressing procurement challenges and promoting ethical practices, CDC’s Strong Ethics Nurture Integrity campaign featured the National Procurement Conference (NPC) 2024. Organized in collaboration with MICG and supported by MACC, the event brought together over 400 procurement professionals to discuss integrity and governance. Internally, CDC reinforced its message through sustained communication efforts, ensuring both staff and external stakeholders embraced the campaign’s core values.

These recognitions follow CDC’s long-standing commitment to championing ethical practices, aligning with its vision of fostering transparency and accountability across the procurement landscape.

“Our success at MPRA 2024 reflects the incredible dedication and creativity of our CCM team,” said Hafidz Bin Ahmad Zehnun, Vice President of Corporate Planning & CCM. “To win three golds in one night is an extraordinary achievement and reflects CDC’s commitment to excellence and integrity at every level. This recognition inspires us to continue raising the bar as we lead with purpose and innovation.”

As CDC celebrates its 25th anniversary, these accolades reaffirm the company’s enduring mission to lead with integrity and innovation, setting new benchmarks for excellence in corporate communications and public affairs.

Hashtag: #business #corporate #cdc #integrity #transparency #campaign #commercedotcom #cdc #publicaffairs #employeecommunications




The issuer is solely responsible for the content of this announcement.

About Commerce Dot Com Sdn Bhd

Established in 1999 as a procurement solutions provider, Commerce Dot Com Sdn. Bhd. (CDC) is a government-linked company under the Ministry of Finance whereby the ministry’s corporate arm, Ministry of Finance (Incorporated), holds a golden share in the company. With over 20 years of experience under its belt, CDC has established itself as among the leading procurement solutions providers in Malaysia and has a well-earned reputation for providing exceptional services through its innovative solutions.

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Economy

Commerce Dot Com Celebrates Landmark Feat with Triple Gold Victory at MPRA 2024

Published

on

KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 4 December 2024 – Commerce Dot Com Sdn. Bhd. (CDC) achieved an extraordinary milestone at the Malaysia Public Relations Awards (MPRA) 2024, taking home an unprecedented three gold awards for its outstanding campaigns. This landmark victory underscores CDC’s leadership in corporate communications and its unwavering commitment to excellence, ethics, and innovation. These accolades highlight CDC’s dedication to crafting narratives that champion ethics, innovation, and inclusivity in corporate communications.

CDC secured the Gold Award in the Public Affairs category for its Strong Ethics Nurture Integrity (SENI) campaign, which aimed to address procurement challenges and promote ethical practices.
CDC secured the Gold Award in the Public Affairs category for its Strong Ethics Nurture Integrity (SENI) campaign, which aimed to address procurement challenges and promote ethical practices.

The three awards were presented for the following submissions:

1. Best Use of Content – Gold Award
This campaign showcased CDC’s 25-year journey through a collaboration with neurodivergent artist Danial Khushairi. His artwork brought CDC’s transformation from pioneering Malaysia’s ePerolehan system to being a technological leader to life. By leveraging Danial’s art across branded merchandise, a microsite, and social media platforms, the campaign embodied CDC’s commitment to inclusivity and sustainability while capturing the essence of its growth and achievements.

2. Employee Communications- Gold Award
CDC breaks the stereotype of IT workers by instilling values that foster camaraderie, health, and a spur of adventure. Through their company values, CDC has nurtured an active workforce, engaging in events like ‘CDC Strides and an expedition to Kilimanjaro. Employees connected beyond the office, supporting communities, and living out values di collaboration and integrity. These efforts have not only strengthened CDC’s culture but also enhanced its brand visibility, making its 25th-anniversary celebration a milestone of unity, health, and appreciation for the outdoors.

3. Public Affairs – Gold Award
Aimed at addressing procurement challenges and promoting ethical practices, CDC’s Strong Ethics Nurture Integrity campaign featured the National Procurement Conference (NPC) 2024. Organized in collaboration with MICG and supported by MACC, the event brought together over 400 procurement professionals to discuss integrity and governance. Internally, CDC reinforced its message through sustained communication efforts, ensuring both staff and external stakeholders embraced the campaign’s core values.

These recognitions follow CDC’s long-standing commitment to championing ethical practices, aligning with its vision of fostering transparency and accountability across the procurement landscape.

“Our success at MPRA 2024 reflects the incredible dedication and creativity of our CCM team,” said Hafidz Bin Ahmad Zehnun, Vice President of Corporate Planning & CCM. “To win three golds in one night is an extraordinary achievement and reflects CDC’s commitment to excellence and integrity at every level. This recognition inspires us to continue raising the bar as we lead with purpose and innovation.”

As CDC celebrates its 25th anniversary, these accolades reaffirm the company’s enduring mission to lead with integrity and innovation, setting new benchmarks for excellence in corporate communications and public affairs.

Hashtag: #business #corporate #cdc #integrity #transparency #campaign #commercedotcom #cdc #publicaffairs #employeecommunications




The issuer is solely responsible for the content of this announcement.

About Commerce Dot Com Sdn Bhd

Established in 1999 as a procurement solutions provider, Commerce Dot Com Sdn. Bhd. (CDC) is a government-linked company under the Ministry of Finance whereby the ministry’s corporate arm, Ministry of Finance (Incorporated), holds a golden share in the company. With over 20 years of experience under its belt, CDC has established itself as among the leading procurement solutions providers in Malaysia and has a well-earned reputation for providing exceptional services through its innovative solutions.

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Economy

The Top Workplaces in Saudi Arabia for 2024 Announced

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RIYADH, SAUDI ARABIA – Media OutReach Newswire – 4 December 2024 – The prestigious Best Places to Work certification program has revealed its 2024 rankings, recognizing leading organizations in Saudi Arabia that excel in creating outstanding workplaces focused on employee satisfaction, engagement, and well-being. The rankings are divided into three categories based on company size: large, mid-sized, and small.

In the Large Companies category (over 1,000 employees), Roshn secured the top position for its commitment to fostering an inclusive and engaging work culture. It was followed by the Royal Commission for AlUla, dedicated to preserving Saudi Arabia’s cultural heritage, and International Maritime Industries, a leader in the maritime sector. Other companies in the top 10 include Panda, Saudi Air Navigation Services, Extra, Jana MS, Bindawood, Gasco, and Saudia Technic.

In the Mid-Sized Companies category (101–1,000 employees), First Milling Company led the rankings, recognized for its role in Saudi Arabia’s food sector. Pfizer Saudi, a leading biopharmaceutical company, and Matarat Holding, focused on aviation and airport operations, took second and third places, respectively. Xerox Saudi and Al Rugaib Holding rounded out the top five, with additional companies like the Islamic Development Bank, Bidaya Finance, and Saudia Cargo included in the top 18.

For Small Companies (fewer than 100 employees), Alnahdi Family Office ranked first, followed by Saudi Downtown Company and Al Ramz. Falak Investment Hub, supporting entrepreneurs and startups, and AXS, a leader in IT consulting, completed the top five. Other recognized companies include Emkan Education, Madar, and Aseer Investment.

Special awards were given to organizations demonstrating excellence in areas like diversity, employee well-being, and HR practices. Resal was honored for its well-being initiatives, while Modern Building Leaders received recognition for exceptional HR practices.

This year’s survey revealed that 80% of employees at certified organizations feel pride in their work, inspired by leadership, and positive about their company’s community contributions. The study also highlighted that the new generation of Saudi talent values growth opportunities, equity, diversity, inclusion, and individuality.

For more information, visit: www.bestplacestoworkfor.org.
Hashtag: #BestPlacestoWork

The issuer is solely responsible for the content of this announcement.

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