Lagos State Governor, Mr Akinwunmi Ambode has signed the 2018 Appropriation Bill with provisions totalling N1,046,121,181,680 and recently passed by the House of Assembly into law. The total budget size comprises of N347, 038, 938, 872.00 to be funded from the Consolidated Revenue Fund, and N699, 082, 242,808.00 from the Development Fund for both capital […]
The House of Representatives Committee on Banking and Currency has commended the Central Bank of Nigeria (CBN) over the quality of its intervention project at the Administrative Staff College (ASCON), Topo, Badagry, Lagos. The Chairman of the Committee, Hon. Jones Onyereri, gave the commendation during the Committee’s oversight visits to the apex bank’s intervention projects […]
The Anambra State Government has inaugurated a 12-member World Bank’s Community Social Development Agency to access and manage the $380 million provided by the World Bank for 27 states participating in Community and Social Development Projects. The State Governor, Willie Obiano, who inaugurated the agency at Governor’s Lodge Amawbia, charged the members to employ global […]
Backlays Africa, the financial adviser to the consortium of banks owed $1.2 billion dollars by 9mobile (formerly Etisalat), has formally communicated Teleology Holdings Limited, informing the company that it is the preferred bidder for the 9mobile sale. Barclays Africa in the letter sent to Teleology Holdings on February 21, directed Teleology Holdings to make a […]
The Managing Director of Nigerian Ports Authority (NPA), Hadiza Bala Usman, has disclosed that INTELS Nigeria Limited paid $42.6 million (about N13.2 billion) into the authority’s Treasury Single Account (TSA). She made the disclosure while addressing members of the House of Representatives Ad Hoc Committee probing into the matter, adding that the payment was remitted […]
The Commissioner of the South Africa Revenue Service (SARS), Tom Moyane, yesterday assured the government that the revenue authority would achieve its revenue target for the 2017/18 financial year. This assurance came barely 24 hours after the Finance Minister, Malusi Gigaba, raised the collectible revenue for the South African fiscus by end of March from […]
The Swiss Government is to ease the requirements on banks affected by the Too Big To Fail (TBTF) regime to ensure that they are not subject to an additional tax burden as a result of the legislation. A news report by Tax-News.com indicated that the TBTF regime required systematically important banks to have sufficient capital […]
The President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has canvassed the need for American and global investors to help unlock Africa’s agriculture potential. A news report circulated by Africa Press Organisation (APO) indicated that the AfDB President made the call as the Distinguished Guest Speaker on the theme ‘The Roots of Prosperity’ […]
Kaduna State Government has announced tax waiver for teachers in public primary and secondary school teachers in the state effective from next month until the new teachers’ salary structure comes into effect. Giving the hint during a media chat Thursday, the state Commissioner for Education, Science and Technology, Malam Jafaru Sani, said with the policy […]