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 […]
The Federal Government has said that the 774 local governments will benefit from the 35% Electronic Money Transfer Levy provided for in the Finance Bill 2022, debunking insinuations that the revenue will be shared by only the federal and state governments. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, made this clarification […]
The Federal Government on Wednesday vowed to end the fiscal regime by the end of June this year. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, who gave this hint during her public presentation on the breakdown of the 2023 Federal Government budget in Abuja, said that the government had made provisions […]
President Muhammadu Buhari in the early hours of Tuesday signed the Federal Government of Nigeria’s N21.8 trillion 2023 budget into law following last week’s passage of the Appropriation Bill 2023 by the National Assembly. A statement by the Ministry of Finance, Budget and National Planning which was also confirmed by a media aide in the […]
The Federal Inland Revenue Service (FIRS) has announced that taxpayers can now get their Tax Clearance Certificate in a single click via its flagship Taxpro Max solution. The TaxPro Max, a tax administration solution introduced by the apex tax authority in June 2021 is a one-stop-shop for taxpayer registration, tax returns filing, tax payment, tax […]
The Centre for the Promotion of Private Enterprise (CPPE) has expressed serious concern about what it described the rushed passage of the 2022 Finance Bill by the National Assembly, noting that the process calls to question the representation role of the Assembly. A statement signed by the Chief Executive Officer (CEO) of the private sector […]