President of the Commonwealth Association of Tax Administrators (CATA) and chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, has advocated the need for increased capacity building to enhance tax administration processes among members of the global body. A statement by the chairman’s Special Adviser on Media, Dare Adekanmbi, indicated that the tax […]
The Minister of Finance and the Coordinating Minister of the Economy, Mr Wale Edun, has announced the integration of the Incentive Monitoring and Evaluation Platform (IMEP) into the Import Duty Exemption Certificate (IDEC) programme, thereby allowing for enhanced monitoring and evaluation of revenues from imports into the country. A statement issued by the ministry’s Director, […]
The Federal Operations Unit Zone C of the Nigeria Customs Service (NCS) has reported that it seized contrabands worth N7.6 billion between January 25 last year and April 19th this year. The outgoing Controller of the Zone, Comptroller Kayode Kolade, who gave these figures in his farewell message during a brief handover to his successor, […]
The Federation Account Allocation Committee (FAAC) on Friday confirmed that it shared a total sum of N1123.391 billion from the March 2024 Federation Account revenue to the Federal Government, States and Local Government Councils. The Committee, in the communiqué issued at its April, 2024 meeting, stated that the N1123.391 billion total distributable revenue comprised statutory […]
The Revenue Mobilization Allocation and Fiscal Commission (RMAFC) has disclosed that a total sum of N7,314,129,314,386.08 accrued into the Federation Account in fiscal year 2023. The figures were contained in the monthly report to the Federation Account Allocation Committee (FAAC) by the Central Bank of Nigeria (CBN) titled “CBN Federation Account Component Statement”. In a […]
…As Comprehensive Income Surges By 1,122% In FY 2023 The Nigeria Sovereign Investment Authority (NSIA) on Thursday restated its continued commitment to strong corporate governance, accountability, transparency and inclusion of critical stakeholders in its continued strive to improve the nation’s infrastructure for improved performance of the economy and value-addition to socioeconomic well-being of the […]
The Managing Director, Nigerian Ports Authority (NPA), Mohammed Bello-Koko, on Wednesday signed the Mandate Letter to secure a $700m Citibank loan to be funded by the UK Export Finance, UKEF. The loan, if eventually formalized, will be used to fully rehabilitate the Apapa and TinCan Island Ports to enable them accommodate modern cargo handling equipment […]
Tin Can Island Command of the Nigeria Customs Service (NCS) has reported revenue collections in the first quarter of this year totalling N303.9 billion, representing about N177.1 billion above the N126.9 billion it raked in the corresponding quarter of 2023. Available statistics on the Command’s revenue profile for the quarter under review based on a […]
The House of Representatives Public Accounts Committee has advised the Securities and Exchange Commission (SEC) and Fiscal Responsibility Commission (FRC) to amicably resolve the differences on the alleged non-remittance of over N45 billion to the Consolidated Revenue Fund. Following defences put up by the SEC and FRC during the public hearing on leakages of government […]
In furtherance of its current fiscal reforms drive to optimize revenue generation and enhance ease of doing business in the country, President Bola Tinubu, on Tuesday, inaugurated a steering committee to drive an initiative called the National Single Window Project (NSWP). Speaking while inaugurating the committee at the Presidential Villa, Tinubu said the initiative was […]