DUTCH REFEREE ROB DIEPERINK DIES WEEKS AFTER REMOVAL FROM WORLD CUP OFFICIATING LIST. (PHOTO).

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 Dutch referee Rob Dieperink dies weeks after removal from World Cup officiating list Dutch referee Rob Dieperink has died at the age of 38, weeks after FIFA removed him from its list of officials for the World Cup. The Dutch Football Association (KNVB) confirmed his death in a statement, saying it was “shocked and deeply saddened” by the news. His cause of death has not been disclosed. Dieperink was arrested in April by the Metropolitan Police in the United Kingdom following a report of an alleged sexual assault involving a teenage boy in London. A Metropolitan Police spokesperson said officers responded on April 9 to a report of sexual assault at an address in Croydon and arrested a man in his 30s on suspicion of the offence. Police later said that after reviewing available evidence, including CCTV footage and digital devices, the investigation had concluded that “the evidential threshold had not been met” and no further action would be taken. Following the investigation, FIFA co...
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FG'S DEFICIT SPENDING SURGES TO N12. 1TN- CBN. (PHOTO).

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 FG’s deficit spending surges to N12.1tn — CBN


The Federal Government’s deficit spending surged by 28 per cent, Year-On-Year to N12.1 trillion in the first ten months of 2024. An analysis of data in the Central Bank of Nigeria, CBN, Monthly Economic Reports, showed that the increase was from N9.8 trillion recorded in the same period of 2023.


This further revealed that the Federal Government, in the first ten months, surpassed its Budget 2024 deficit target of N9.8 trillion by 31 per cent. The increase in deficit spending was in spite of a 36 per cent YoY increase in FG’s revenue during the period. An analysis of the fiscal activities of the FG showed that in the first quarter of 2024 (Q1’24), deficit spending stood at N4.18 trillion and grew by 1.9 per cent quarter-on-quarter (QoQ) to N4.26 trillion in Q1’24.


In Q3’24 deficit spending fell by 23 percent to N3.3 trillion. In October 2024, deficit spending stood at N361.89 billion. The increase in FG’s revenue was driven by a 54.5 per cent YoY increase in revenue to the Federation Account during the 10-month period. The report also showed that revenue to the Federation Account rose to N20.214 trillion in the 10 months, 10m’24, from N13.079 trillion in the same period in 2023, 10m’23.


From N4.973 trillion in the first quarter, Q1’24, revenue to the Federation Account rose quarter-on-quarter, QoQ, to N6.388 trillion in Q2’24. It rose further by 7.5 per cent QoQ to N6.865 trillion in Q3’24. However, in October, revenue to the Federation Account fell Month-on-Month, MoM by 7.9 per cent to N1.988 trillion. FG recorded 36.6 per cent YoY growth in revenue to N6.86 trillion in 10m’24 from N5.02 trillion in 10m’23. QoQ revenue grew by 71 per cent to N2.4 trillion in Q2’24 from N1.4 trillion in Q1’24. In Q3’24, revenue fell by 4.2 per cent QoQ to N2.3 trillion. In October 2024, revenue stood at N763.79 billion.


The report also showed that expenditure grew by 17.8 per cent QoQ to N6.7 trillion in Q2’24 from N5.6 trillion in Q1’24. In Q3’24, expenditure dropped by 16.4 per cent QoQ to N5.6 trillion. In October, expenditure rose MoM by 28.4 per cent to N1.83 trillion from N1.43 trillion in September. In its Economic Report for October, the apex bank said: “From the federally collected revenue of N1,988.47 billion, a net balance of N1,298.87 billion was distributed to the three tiers of government after accounting for additional revenue and statutory deductions and transfers. The federal, state, and local governments received N424.87 billion, N450.96 billion and N332.63 billion, respectively, while the balance of N90.42 billion was allocated to the 13% Derivation Fund for oil-producing states. Net disbursement was 7.90 per cent above the level in the preceding month but was 43.76 per cent short of the target.

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