The Executive Chairman of the Federal Inland Revenue Service, Muhammad Nami, has said that the Public Service Person of the Year 2022 award conferred on him by Leadership Newspaper is a morale booster for the revenue agency to do more in furtherance of the fulfillment of its mandate. Nami made this remark during a chat […]
The UK Government has estimated that following the latest downward review of tariffs and extended duty free trade in goods exported from Nigeria to United Kingdom, Nigeria will yearly save over £750 million in export charges. The UK Deputy British High Commissioner to Nigeria, Mr. Ben Llewellyn-Jones, who made this disclosure during the launch of […]
The governor of the Central Bank of Nigeria, Godwin Emefiele, on Tuesday debunked ongoing rumour that the apex bank was withholding N89 trillion revenue accruals from Stamp Duty, saying the rumour is ill-founded and untrue. Emefiele made this clarification while briefing journalists at the end of the 289th meeting of the Monetary Policy Committee (MPC) […]
The Federal Inland Revenue Service (FIRS) reported on Monday that it collected over N10 trillion in tax revenue in fiscal year 2022, represented the highest tax collection ever recorded in its history. The Service made this known in its “FIRS 2022 Performance Update,” report signed by its Executive Chairman, Mr. Muhammad Nami, and released to […]
The Lagos State Internal Revenue Service (LIRS) has reaffirmed that January 31, 2023, remained the deadline for filing of annual tax returns by employers of labour in the state. The Executive Chairman of the Service, Mr. Ayodele Subair, in a statement signed on Sunday by the Head, Corporate Communications of LIRS, Monsurat Amasa, reminded all […]
The Nigeria Customs Service’s (NCS’) Murtala Muhammed International Airport (MMIA) Lagos Command has reported that it generated N20.9 billion into the federation account in 2022 fiscal year, representing a marginal improvement over the N19 billion it generated as revenue in 2021 The spokesperson of the command, Mrs. Juliana Tomo, who gave these figures in a […]
The Federation Account Allocation Committee (FAAC) has reported that the three tiers of government shared a total sum of N990.189 billion as allocation from the Federation Account in December 2022, representing a 9.8% increase over the N902.053 billion shared by them in November 2022. The figures were contained in a statement issued on the allocation […]
The Centre for the Promotion of Private Enterprise (CPPE) has flawed the provisions of the Finance Bill 2022 now undergoing review in terms of the proposed hike in tax rates in almost all sectors of the economy and advised the fiscal authorities to have a re-think on the provisions. The Centre strongly canvassed for the […]
In furtherance of its efforts to ensure that the provisions of the Money Laundering Act are fully complied with in the nation’s public finance system, Nigerian Financial and Intelligence Unit (NFIU) on Thursday announced a total ban on cash withdrawal from Public Accounts and payment of Estacode and travel allowances in cash and criminalized it. […]
The Federal Government has assured the public of its readiness to act on the recommendations that may be submitted by the panel currently investigating the the N89 trillion Stamp Duty proceeds allegedly stolen from the Central Bank of Nigeria (CBN) accounts. A House of Representatives member, Hon. Muhammed Kazaure, had on December 14, 2022 raised […]