Nigerians spent about $98.7 billion in foreign exchange (FX) for education, healthcare and Personal Travel Allowances (PTAs) between years 2010 and 2020 even in the face of dwindling FX earnings by the country during the period. The Governor of the Central Bank of Nigeria (CBN), Dr. Olayemi Cardoso, who made this disclosure in his speech […]
Nigeria’s Central Bank of Nigeria (CBN), Dr. Olayemi Cardoso, has projected that Nigeria’s inflation rate would slow down to 21.4% this year, despite the surging prices of most commodities, particularly food items’ prices over the past months. Cardoso, who made this projection on Tuesday when he appeared before the House of Representatives during the sectoral […]
….As Service Trains Officers On Harmonized System Coding The House of Representatives’ Public Accounts Committee on Tuesday queried officials of the Nigerian Customs Service (NCS) over alleged non-submission of audited financial statements for 2016, 2017, and 2018 financial years to the Auditor-General of the Federation. The Comptroller-General of Nigeria Customs Service (NCS), Mr. Adewale Adeniyi, […]
President Bola Tinubu has signed the N2.2 trillion supplementary budget for 2023, which will be concurrently implemented with the 2024 budget until March this year. The Speaker of the House of Representatives, Hon. Tajudeen Abbas, who made this disclosure during a media chat at the Presidential Villa on Monday, said that already the President had […]
Lagos State governor, Mr. Babajide Sanwo-Olu, has said the current tax revenue being generated by the Lagos State Government is too low to government’s actual projection and the state’s tax revenue potential. The governor, who made this remark when he hosted members of Presidential Committee on Fiscal Policy and Tax Reforms, led by the Chairman, […]
Apparently convinced that the current reform efforts of the President Bola Tinubu-led administration would impact the nation’s socio-economic system positively in the months ahead, the Central Bank of Nigeria (CBN) has projected that the rising inflation and foreign exchange (FX) rates would decline in 2024. Similarly, the CBN also predicted that there would be less […]
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- […]
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 […]
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 […]