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Lawan Accuses Revenue Agencies Of Non-Remittance, As Buhari Orders Cost Reduction

The President of the Senate, Senator Ahmad Lawan, has accused most revenue generating agencies in the country of failing to remit their funds  to the Federation Account as and when due, warning that such fiscal abuse will no longer be tolerated. Lawan who accused the revenue agencies of some lapses while speaking at the third […]

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FIRS Rakes In N4Trn In 9 Months, Seeks Jail Term For Tax Evaders

The Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, has told federal legislators that the tax collection agency generated about N4.012 trillion from January-September this year, representing 60.77 percent of the N8.8 trillion target this year. Fowler made the disclosure when he appeared before the Senate Committee on Appropriations that the […]

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Immigration Service Remits Over N11.682Bn, $22,972 In 8 Months – CG

The Comptroller General (CG)of Nigeria Immigration Service (NIS), Muhammad Babandede, disclosed on Thursday that the Service had remitted the sums of N11,682,009,761 and $22,972.38 into the Federation Account as revenues collected from January to August this year. The Comptroller General made this disclosure at the Service’s annual workshop with the theme ‘Migration Management in a […]

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Why We Opened Non-Residents’ Tax Office – Fowler

The Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, has said that the establishment of Non-Resident Persons’ Tax Office (NRPTO) is intended to ease tax assessment and payment of taxes by non-resident persons in the country. Specifically, the FIRS boss noted that the “devotion of attention to this segment of taxpayers […]

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LCCI Charts Roadmap To Effective Border Closure For Economic Growth

The Lagos Chamber of Industry and Industry (LCCI)  has described the current closure of Nigerian land borders as coming with attendant benefits and costs, the latter which require urgent measures to be addressed by the government. The Director General of the organized private sector group, Mr. Muda Yusuf, on Tuesday stated that   reports on the […]

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Nigeria Customs’ Onne Port Command Generates N81.196Bn in Q3

The Nigeria Customs Service (NCS), Area II Command Onne Port, has reported a total revenue collection N81,196,697,858.57 in the third quarter of year 2019. The command’s Public Relations Officer, Ifeoma Onuigbo Ojekwu, stated that the  amount generated surpassed the N69,535,174,318.38 that was generated in the corresponding quarter of 2018  by over N11,661,523,540.19. She stated: “This […]

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CBN Releases New Regulation On E-Payments, Collections For Private, Public Sectors

The Central Bank of Nigeria (CBN) has released a new regulatory template guiding all forms of electronic payments and collections for public and private sectors in the country. The apex bank stated that the monetary policy measure, which was taken furtherance of its powers under enabling Act 2007, was a revision of the Guidelines on […]

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FG, Other Tiers Shared N1.92Trn In Q1, 2019 – NBS

The National Bureau of Statistics (NBS) has reported that a total sum of N1.92 trillion was disbursed by the Federation Account Allocation Committee (FAAC) to three tiers of government in first quarter of this year. The bureau, in its latest report on monthly disbursements to the tiers of government indicated in January, the Federal, State […]