Banking. Revenue. TechnoBiz
The Federal Inland Revenue Service (FIRS) has stated that it will achieve 100% automation of all its tax administration processes with the aim of blocking revenue leakages thereby revolutionizing revenue generation in Nigeria. Calling for the cooperation of Nigerians to achieve this, the Executive Chairman of the FIRS, Muhammad Nami, while speaking as the Special […]
Nigeria’s House of Representatives on Tuesday approved the sum of N17.127 trillion budget for 2022 fiscal year. The passage of the budget followed the consideration and adoption of clauses in the Bill’s report presented by the Chairman of the House Appropriation Committee, Hon. Muktar Betara. The figures represented about N736 billion more than the N16.391 […]
The Nigerian Maritime Administration and Safety Agency (NIMASA) has retained the revised Offshore Cargo Handling and Operations Stevedoring rates contained in the Second Schedule of the NIMASA Stevedoring Regulations 2014. The renewal of the rates, which had been reviewed downward for a period of six months, is part of the agency’s sustained efforts to mitigate […]
The Federation Accounts Allocation Committee (FAAC) shared a total of N675.946 billion as disbursements from the November 2021 Federation Account Revenue to the federal, states and local governments. The figures of the total amount distributed to the tiers of government were contained in a Communiqué issued at the end of a virtual meeting of the […]
The Central Bank of Nigeria (CBN) has earmarked N41 billion, which is being disbursed by Heritage Bank Plc to farmers across some states, for the expansion of wheat production in a bid to meet high demand amid poor production capacity of wheat farmers nationwide. The disbursed fund is to consummate the expansion of Wheat Seed […]
In line with its practice, the Debt Management Office (DMO) has published Nigeria’s total public debt as at September 30, 2021, totaling N38.005 trillion (about USD92.626 billion.. The figures comprised the total external and domestic debts of the Federal Government of Nigeria (FGN), 36 State Governments and the Federal Capital Territory (FCT) The DMO attributed […]
The Centre for the Study of the Economies of Africa (CSEA), a think tank research firm focusing on activities in Africa’s economies, has urged the Federal Government to strengthen security in the oil producing areas as a step towards improving productivity and halting the dwindling revenues from the nation’s hydrocarbon resources industry. The think tank […]
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami , on Monday said that the 2021 Finance Bill must be tailored towards enabling an efficient tax system that works for every Nigerian. Nami was quoted by his Special Assistant (Media & Communication), Johannes Oluwatobi Wojuola, in a statement as making this […]
The Executive Chairman of Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami, on Monday advocated the need for aggregation of all revenues generated at national and sub-national levels for the purposes of ensuring accurate computation of Nigeria’s tax-to-GDP ratio and using the figures for planning and development. The FIRS boss, made the call in his […]
The United States’ Securities and Exchange Commission (SEC) on Monday charged American Renal Associates Holdings, Inc. (ARA), a provider of dialysis services through clinics across the country, with engaging in a revenue manipulation scheme that resulted in the restatement of several years of financial reporting. The commission also charged two of ARA’s former chief financial […]