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Signing OECD Minimum Corporate Tax Pact Not In Nigeria’s Interest – Nami

The Executive Chairman of the Federal Inland Revenue Service (FIRS), Muhammad Nami, has said that signing the Organization for Economic Cooperation and Development (OECD)/ G20 Inclusive Framework two-pillar solution to the taxation of the digital economy will not be in Nigeria’s best interest. Nami, in a statement issued by his Special Assistant to the Executive […]

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FIRS, Niger Tax Authority Mull Collaboration To Boost Nations’ Revenue

The Executive Chairman of the Federal Inland Revenue Service (FIRS), Muhammad Nami, has said that revenue mobilization of Nigeria and Niger Republic can be improved if the revenue authorities of both countries work together to deepen their relationship, share tax information and engage in mutual administrative assistance. Nami made this remark when he received his […]

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We Facilitated Agencies’ N2.6Trn Remittance To Federation Accounts – FRC

The Fiscal Responsibility Commission (FRC), has said that through its statutorily defined activities it facilitated federal agencies to remit N2.6 trillion to the federation account in 12 years. The commission’s Chairman, Chief Victor Muruako, who gave this hint on Monday at the opening of a five-day capacity building training for Fiscal Responsibility Boards of Kaduna […]

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Budget Deficit: Nigeria Raises $1.25Bn Through Eurobonds

The Debt Management Office (DMO) has disclosed that Nigeria raised $1.25 billion through the issuance of a seven-year Eurobonds in the International Capital Market (ICM). In a statement hosted on the Office’s website, the Director General, Patience Oniha, explained that with the issuance of the bonds in the ICM, Nigeria had become the first African […]

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We’ll Leverage On Finance Act To Boost Budget Funding – FIRS

The Federal Inland Revenue Service (FIRS) has stated that it would use the instrumentality of the Finance Act 2021, through collaboration with taxpayers and key stakeholders to ensure adequate funding of the country’s budget and raise the requisite financing for national development. The Executive Chairman of the FIRS, Muhammad Nami, was quoted in a statement […]

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CSEA Cautions FG On Borrowing, Canvasses Fiscal Options

The Centre for the Study of the Economies of Africa (CSEA) has again lent its voice on the growing calls by financial and economic experts on the need for Federal Government to check the nation’s rising debt stock in order to avert plunging the country into debt distress. The experts’ concern came barely a few […]

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LIRS May Sanction Defaulting Taxpayers As Tax Returns Deadline Expires Today

There are strong indications that taxpayers in Lagos State that failed to file their annual tax returns by the end of today’s business hours may face serious sanctions as the deadline set by the Lagos State Inland Revenue Service (LIRS) expires. The agency had on January 17 this year in a statement reminded businesses and […]

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ANCLA Flaws N4.1Trn Revenue Target For Customs Service

The Association of Nigeria Licensed Customs Agents (ANLCA) has criticized the Federal Government on the N4.1 billion revenue target set for the Nigeria Customs Service (NCS) in the 2022 fiscal year, describing it as a high target that will put undue pressure on the Service. The association also stated that the target would also undermine […]

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CSEA Urges FG To Commit Carbonated Drinks’ Tax To Healthcare System

The Centre for the Study of Economies of Africa (CSEA), a leading research think-tank with primary focus on developments in Sub-Sahara African economies, has advised the Federal Government to ensure that tax revenue on carbonated drinks provided for in the 2022 Appropriation Act is deployed to the nation’s healthcare system in order to improve the […]