The Federal Government on Friday apologized to Nigerians for its tweeted Notice asking all account holders in the financial institutions to re-register. As reported by BRTNews.ng, the government had, through its official twitter handle, on Thursday notified “the general public that all account holders in Financial Institutions (Banks, Insurance Companies, etc) are required to obtain, […]
The Federation Accounts Allocation Committee (FAAC) yesterday at the end of its virtual meeting disclosed that the three tiers of government shared a total sum of N682.060 billion from the federation account as their allocations for the month of August 2020. Out of the sum, inclusive cost of collection to NCS, DPR and FIRS, the […]
The Nigerian National Petroleum Corporation (NNPC) on Thursday reported a trading surplus of N20.36bn in July 2020 compared to the N2.12bn surplus it recorded in the preceding month. The disclosure, which was contained in a statement issued by the corporation on its financial and operations report for month, indicated that its most functional and flagship […]
Apparently encouraged by the boost non-oil tax sources have been giving its revenue accruals in recent months and the need to consolidate on collections from the sources, the Federal Government has directed all bank, insurance and other financial institutions customers in the country to immediately fill Self-Certification Forms with their banks or face sanctions. The […]
The Federal Inland Revenue Service (FIRS) on Thursday stated that non-oil tax receipts had consistently contributed 75% to 90% of total tax collections over the past few months. The FIRS Director, Communications and Liaison Department, Dr. Abdullahi Ahmad, quoted the Executive Chairman of the service, Mallam Muhammad Nami, as disclosing this during a courtesy call […]
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed,has projected that based on current micro and macroeconomic indices of the nation’s economy, there are strong indications that the nation’s economy would rebound in the first quarter of next year. The past few months had been challenging for the federal government as the devastating […]
Determined to boost its internally generated revenue (IGR) collections for sustainable development, Bayelsa State Government has constituted a tax advisory committee headed by the state Deputy Governor, Senator Lawrence Ewhrudjakpo. The committee, which was constituted during the fourth executive council meeting held in Yenagoa, was charged with the responsibility of identifying all non-oil revenue sources […]
Ghana Revenue Authority (GRA) on Monday assured the fiscal authorities of its determination to meet its ¢42 billion revised revenue target for the 2020 financial year, despite the huge constraints the COVID-19 pandemic posed to businesses in the country. At the end of last month, the country had realised about ¢26 billion from domestic tax […]
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, on Monday confirmed that Nigeria’s revenue had dropped by about 65 per cent as the COVID-19 pandemic impact on the economy lingers till now. The minister explained that the dwindling revenue trend necessitated the decision of the federal government to discontinue the payment of […]
Akwa Ibom State Government has decried the non-payment of 13 percent derivation oil revenue due to it by the Federal Government. Describing the non-payment of the fund by the federal government as unconstitutional, the state government lamented that the non-payment of the funds had affected adversely its development process. A news report by Vanguard newspapers […]