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 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 Securities and Exchange Commission (SEC) Nigeria is to commence regulatory fee on fixed income (Bonds) secondary market transactions with effect from January 1, 2022. This disclosure was contained in a Circular dated December 15, 2021 and signed by the commission’s management. According to the Commission, the circular is made pursuant to Section 13(u) of the […]
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 Federal Inland Revenue Service (FIRS) has explained why Nigeria did not sign the Organisation for Economic Cooperation and Development (OECD) G20 Inclusive Framework two-pillar solution to tax challenges of the digitalized economy. The OECD G20 Inclusive Framework two-pillar solution proposes a framework of rules aimed at tackling base erosion and profit shifting, and providing for […]
The President of the Commonwealth Association of Tax Administrators (CATA) and Chairman, Federal Inland Revenue Service (FIRS), Muhammad Nami, at the weekend held his maiden meeting with the CATA Secretariat team in London. At the meeting, which held at the United Kingdom’s Treasury House, the CATA President was formally briefed by the Secretariat officials on […]
L-R: Mr. Olufemi Olarinde, Nigeria’s Country Correspondent to Commonwealth Association of Tax Administrators (CATA); Ms. Antonia Strachey, UK Public Finance and Tax Department, Foreign, Commonwealth and Development Office (FCDO); Mr. Muhammad Nami, Federal Inland Revenue Service (FIRS) Executive Chairman and CATA President; Mr. Jon Swerdlow, Capacity Building Unit Transparency Lead of Her Majesty’s Revenue and […]
Lagos State Governor, Babajide Sanwo-Olu, on Wednesday presented a budget estimate of N1.388 trillion for the 2022 fiscal year to the State’s House of Assembly for consideration. Tagged ‘Budget of Consolidation’, the Appropriation Bill 2022 provided for a recurrent expenditure of N564.93 billion, representing 40.4 percent of the proposed budget while capital expenditure was put […]
The Federation Accounts Allocation Committee (FAAC), today at its meeting held at the end of National Council on Finance and Economic Development conference held at Lagos, shared to the three tiers of government, a total sum of N671.910 billion as federation allocation for the month of October, 2021. From this amount, inclusive of Value Added Tax […]
The management of Federal Capital Territory-Internal Revenue Service (FCT-IRS) has alerted the public on fake appointment letters being circulated in the name of the service with the intention to defraud unsuspected Nigerians. In a statement issued by the Head, Corporate Communications of the Service, Mustapha Sumaila, at the weekend, the management stated that it was […]