The Chairman of the Federal Inland Revenue Service (FIRS), Babatunde Fowler, today disclosed that N30 billion had been recovered under the Voluntary Assets and Income Declaration Scheme (VAIDS) from individuals and organizations so far. Fowler, who gave this hint at the unveiling of the VAIDS Declaration Certificate in Abuja, projected that if the required support […]
Indigenous airlines in the country have threatened to stop remittance of Value Added Tax (VAT) to government coffers effective June 14 this year. The operators claimed that continuous collection of such tax negated the principles of the nation’s fiscal policies and international best practices in the industry. The airlines operators disclosed their plan on VAT […]
The Director General of Debt Management Office, Patience Oniha (second left); Honourable Minister of Finance, Mrs. Kemi Adeosun (fourth left); Executive Vice President, China Development Bank, Mr Zhang Xuguang (middle); Honourable Minister of Power, Works & Housing, Mr Babatunde Fashola SAN (fourth right);Permanent Secretary, Power, Mr. Louis Edozien (2nd right) in a group photograph shortly […]
The Federal Government’s current war against abuses in the nation’s public finance is yielding desired results with the about N174.7 billion savings so far from the Whistleblowing Policy. The policy was introduced by the Federal Ministry of Finance in December 2016 with the purposes of enlisting civil society’s support for the anti-corruption crusade by rewarding […]
There are strong indications that the Federal Government surpassed previous years’ capital budget implementation in 2017 as reports indicated that it achieved about 73.5 percent of the capital expenditure for the year. In the year under review, a total of N2.029 trillion was allocated to capital projects, excluding FGN Special Intervention Projects, out of which […]
A World Bank Mission, comprising of 10 Executive Directors, will tomorrow arrive Nigeria to hold high-level discussions with the Vice President, Prof. Yemi Osinbajo; the Minister of Finance, Mrs. Kemi Adeosun and some Governors over the Bank’s ongoing projects in the country. The Minister’s Special Adviser, Media and Communications, Oluyinka Akintunde, stated that the World Bank’s […]
Nigeria’s Minister of Finance, Mrs. Kemi Adeosun and the Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, today re-affirmed their projections for the country’s growth outlook in the current fiscal year. The duo, in a joint media briefings at the end of the 2018 International Monetary Fund/World Bank (IMF/World Bank) Spring Meeting in […]
In furtherance of its efforts to plug all leakages in public finance, the Federal Government has commenced audits in 28 Ministries, Departments and Agencies, MDAs, over allegations of contract inflation and conversion of government assets to personal use. The exercise is being conducted by the investigative section of the whistle-blower unit of the Ministry of […]
The Minister of Finance, Mrs. Kemi Adeosun, today directed that Ms Mary Uduk should assume the position of Acting Director-General of the Securities and Exchange Commission (SEC) and also approved the re-assignment of some top officials. Uduk’s appointment and re-deployment of other top management staff may not be unconnected with the week’s conflicting directives from the commission […]
The Federation Accounts Allocation Committee (FAAC) rose from its meeting held in Abuja today with total revenue distributions from the Federation Account to the three tiers of government totalling N647.39 billion for the month of February. The Minister of Finance, Mrs. Kemi Adeosun, who is also the Chairman of the committee, told journalists at the […]