Leading telecom services provider, Airtel Africa has reported impressive performance in its financial and other operational indices for the half year ended September 30 this year, with the subscriber base growing to 147.7 million across 14 countries in the continent, representing 23.0% increase in data users to 59.8 million and a 23.1% rise in mobile […]
Following failure to remit the Personal Income Taxes (PIT) of their employees and for non-remittance of consumption taxes, the Lagos State Internal Revenue Service (LIRS) has closed 34 companies in the state, including 23 hospitality sector entities. Some of the affected companies are NTS Nigeria Ltd., Med-In Hospital & Pharma Services Ltd., Danvic Petroleum Int’l […]
The Senate on Tuesday confirmed the nomination of Dr. Zacch Adedeji as the Chairman of the Federal Inland Revenue Service (FIRS). Adedeji, who appeared at the upper chamber for screening elaborately spoke on his plans to improve the nation’s revenue, referring to the dearth of information in the oil and gas sector. While lamenting the […]
The Federal Executive Council (FEC) on Monday approved the submission of a supplementary budget of over N2.1 trillion to the National Assembly for the fiscal year 2023 amid rising public governance expenditure obligations. The FEC approved the N2.176 trillion for presentation to the Legislature during its weekly meeting presided over by President Bola Tinubu. The […]
The Accountant General of the Federation (AGF), Mrs Oluwatoyin Madein, has declared that the Federal Government will no longer pay for yet-to-be-awarded projects. Madein, who made this declaration on Thursday during the opening of a one-day capacity-building programme tagged: “Implementation of the Cash Plan Policy in Nigeria: Prospects and Challenges” in Abuja, also stressed that […]
The Nigeria Deposit Insurance Corporation (NDIC) has commended the Judiciary on its better understanding of the deposit insurance practice in the current drive towards promoting stability in the nation’s financial system. The corporation’s Managing Director/Chief Executive, Mr. Bello Hassan, gave the commendation in his welcome address at the 2023 Sensitization Seminar, organized by the corporation […]
Ogun State Governor, Prince Dapo Abiodun, has reiterated the focus of his administration to provide qualitative governance for the people of the state. Giving the assurance while speaking during the citizen’s engagement on the 2024–2026 Medium Term Expenditure Framework (MTEF) and the 2024 budget at Ijebu-Ode, the governor said he would create enabling environment for […]
The Federal Government may soon impose excise tax penalties on foreign exchange FX transactions in the black market as part of its current measures to discourage multiple foreign exchange (FX) rates in the country. The fiscal measure is one of the recommendations of the Presidential Fiscal Policy and Tax Reform Committee, established in July this […]
The Director-General of the Debt Management Office, Ms. Patience Oniha, has projected that ongoing Federal Government’s efforts to enhance the nation’s revenue through current fiscal reform initiatives could help in reducing the nation’s debt service ratio to GDP by 20% in the medium-term. Oniha, who made this projection on Wednesday during an interview with Bloomberg, […]
The Acting Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, has allayed business owners’ fears about the moves by the federal revenue agency to increase the country’s tax-to-GDP ratio to 18% from 10.86%, saying attaining the target will not necessarily involving raising tax rates. Adedeji, who restated the President Bola Tinubu-led administration’s […]