The Managing Director of the Nigerian Ports Authority (NPA), Mohammed Bello- Koko, has refuted the rumour about $1.8 billion allegedly missing from the Authority, describing it as ill-founded and false. According to him, the inability of the NPA to remit substantial part of the amount which is considered irrecoverable is due to faulty concession. Bello- […]
The Corporate Affairs Commission (CAC) and Federal Inland Revenue Service (FIRS) have agreed to reinvigorate their existing collaboration towards fulfilling their statutory roles. The two agencies indicated this laudable plan on Wednesday during a visit by the CAC Registrar General/CEO, Hussaini Ishaq Magaji, to the FIRS Executive Chairman, Mr. Zacch Adedeji, at Revenue House in […]
The Speaker of the House of Representatives, Hon. Tajudeen Abbas, has assured Nigerians that the 2024 budget would be the “people’s budget” that will address the economic hardships faced by Nigerians. Abbas, who gave this assurance on Monday at the town hall meeting on the budget organised by the Green Chamber of the National Assembly, […]
President Bola Tinubu on Wednesday presented an Appropriation Bill of N27.5 trillion for fiscal 2024 to the National Assembly for passage. Presenting the proposed budget tagged “Budget of Renewed Hope” to the joint session of the National Assembly, the President explained that the key thrusts of the fiscal proposal were national defence, internal security, job […]
Nigeria, Ghana, South Africa, and other countries at the United Nations (UN) on Wednesday voted for greater roles in international tax matters in a move that may change the Organization for Economic Cooperation and Development’s (OECD’s), domineering position on the discussions for decades. Over the past years, developing nations have been pushing for a greater […]
The Nigerian Senate on Wednesday formally commenced the process of amending the Cybercrime Act 2015 as part of ongoing collective efforts to improve the security of the nation’s cyber space for information sharing across the broad spectrum of the nation fast-evolving digital economy. Speaking at the one-day public hearing on the Cybercrime (Prohibition and Prevention) […]
The Senate on Wednesday approved the 2024-2026 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) presented by President Bola Tinubu to it for consideration. The approval of the fiscal documents followed the adoption of the report of its Joint Committee on Finance, Appropriation, National Planning, Local and Foreign Debts at plenary. During the […]
The Federal Government on Tuesday announced the revocation of 1,633 mining licenses due to default in payment of stipulated service fees by operators. The Minister of Solid Minerals Development, Dr. Dele Alake, who made the announcement during a press conference in his office in Abuja, explained that the revocation becomes imperative following the expiration of […]
….Rates Buhari’s Tenure As Challenging For Businesses, Nigerians An analyst at Morgan Stanley, one of the leading global investment banks, Steven Quattry, has predicted that current reforms by President Bola Tinubu to reposition Nigeria’s economy on the path of sustainable growth may lead to a strong increase in the nation’s annual income, despite the […]
The Central Bank of Nigeria (CBN) on Wednesday stated that all banknotes issued by it remained legal tender and, therefore, should not be rejected by anyone as stipulated in Section 20(5) of the CBN Act, 2007 The apex bank, in a statement issued by its Director, Corporate Communications Department, Dr. Isa AbdulMumin, made the clarification […]