The United States’ Securities and Exchange Commission (SEC) has adopted amendments to modernize filing fee disclosure and payment methods. Under the revised methods, operating companies and investment companies (funds) pay filing fees when engaging in certain transactions, including registered securities offerings, tender offers, and mergers and acquisitions. The amendments revised most fee-bearing forms, schedules, and […]
One of Nigeria’s transparency advocacy organistions, Nigeria for All Nigerians (NAN), has charged the regulatory authorities to stop a likely violation of the Nigerian Investments and Securities Act by the impending listing by the introduction of the shares of Nigerian Exchange Group on the Main Board of Nigeria Exchange Limited with effect from October 13, 2021. […]
The Accountant General of the Federation, Ahmed Idris, has said that the recently launched Open Transparency Portal (OTP) by the Federal Government now makes it easy for members of the public to access information on financial transactions by Ministries, Departments and Agencies (MDAs). Idris made this disclosure while addressing members of the Governing Council of […]
Lagos State Governor, Babajide Sanwo-Olu, on Monday canvassed 42% share of the revenue in the Federation Account to states in order to correct the fiscal imbalances in the nation’s political structures. The Governor made the submissionat the 2-Day South-West Zonal public hearing organized by the Revenue Mobilization Allocation and Fiscal Commission (RMAFC) to flag off […]
The Nigeria Extractive Industries Transparency Initiative (NEITI) has hinted of its moves to report oil and gas companies that have defaulted in remittance of their profit taxes to the federation account to anti-graft agencies. The organisation’s Executive Secretary, Dr .Orji Ogbonnaya Orji , reported that based on the 2019 Oil and Gas Industry and Solid […]
The Federation Accounts Allocation Committee (FAAC) on Wednesday disclosed that the three tiers of government shared a total sum of N696.965 billion as distributable revenue from the Federation Accounts in August. The FAAC gave the figures in a communiqué issued at the end of its virtual meeting in September 2021. The committee stated that N696.965 […]
The Nigerian National Petroleum Corporation (NNPC) has published its audited financial statements which showed that the group’s assets’ value rose by 18.7percent amid devastating impacts of the COVID-19 pandemic on broad sectors of Nigeria’s economy. The publication of the corporation’s financial statement for the 2020 year on its website was in compliance with Federal Government’s […]
Augusto & Co, one of Nigeria’s leading rating agencies, has reported that the nation’s telecommunications sector attracted a total of $3.9 billion foreign direct investments (FDIs) between 2015 and 2020. This is even as the credit rating firm predicted that moves by Nigeria to deploy 5G technology would attract more foreign direct investments (FDIs) into […]
House of Representatives Committee on Finance has commended the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, for providing detailed explanations on some oil industry issues during an interactive session on the 2022-2024 Medium Term Expenditure and Revenue Framework (MTERF) and Fiscal Strategy Paper (FSP). The Chairman of the House […]
The Tax Appeal Tribunal (TAT) sitting in Lagos has ordered Multichoice Nigeria Limited, DSTV and other TV entertainment services provider, to pay N900 billion tax arrears being the 50 percent of the company’s N1.8 trillion the tax arrears as demanded by the Federal Inland Revenue Service (FIRS) based on its forensic audit on the entity’s […]