Business Headlines

FIRS nets N1.171trn in 3 months

Ihesiulo Grace 30 April 2018 0

…Development, endorsement of change under Buhari- Adeosun The Federal Inland Revenue Service (FIRS) has generated N1.171trillion in the first quarter of 2018 – between January and March, amounting to N393 billion more than it collected during the same period in 2017. The N1.171

Business Headlines

$322m Abacha loot will be spent on poor, vulnerable households-Adeosun

Ihesiulo Grace 23 April 2018 0

The Minister of Finance, Mrs Kemi Adeosun, has said that the $322million Abacha loot repatriated from the Swiss government will be spent on poor households under the social safety net programme of the federal government. Addressing journalists on Sunday in Washington DC at a joint press conference with the Governor of the Central Bank of […]

Headlines News

FG to review whistleblowing policy, recovers N7.8bn, $378m, £27,800

Ihesiulo Grace 14 April 2018 0

The Federal Government has said it will review the investigation framework of the whistleblowing policy to improve the effectiveness of the policy and put in place, required institutions and tools to strengthen the anti-graft war. The whistleblower policy provides various channels through which anyone with information about a violation of government’s financial

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Abacha Loot: FG did not oppose payment of legal fees to lawyers- Ministers

Ihesiulo Grace 11 April 2018 0

The Minister of Finance, Mrs. Kemi Adeosun, and her counterpart and the Attorney General of the Federation (AGF) and Minister of Justice, Mr Abubakar Malami (SAN) on Tuesday said there was no controversy surrounding the recovery of US$322,515,931.83 Abacha loot or on the payment of $16.9 million fees to lawyers that handled the recovery. While […]

Business Headlines

VAIDS dateline: FG insists tax evaders risk prosecution, seizure of properties

Ihesiulo Grace 1 April 2018 0

The Minister of Finance, Mrs. Kemi Adeosun, on Saturday confirmed that the Federal Government was currently reviewing the requests by the States and Private Sector for an extension of the tax amnesty programme, the Voluntary Assets and Income Declaration Scheme (VAIDS). The tax amnesty programme, which expired on Saturday, offered a nine-month window of opportunity […]

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FAAC: Finance Minister confirms Daily Times story

Ihesiulo Grace 29 March 2018 0

…Says workers will get salary before Easter …Presides over FAAC meeting as FG, states, LGAs share N647.39bn …3 tiers of Govt receive N11.836bn payments higher than previous month An intensive meeting between state governors and Minister of Finance, Mrs. Kemi Adeosun, has averted Federation Allocation Account Committee (FAAC) impasse which was induced by

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Why I Wrote Magu Over Recovered Loots – Adeosun

Ihesiulo Grace 27 March 2018 0

Minister of Finance, Kemi Adeosun has explained why she wrote a letter to the acting chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, seeking clarification on loots recovered by the agency. Adeosun had earlier in a letter dated February 9 asked Magu to provide more information on recovered loot, noting that there […]

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FG saves N68bn on personnel cost in 2017- Adeosun

Ihesiulo Grace 22 March 2018 0

The Minister of Finance, Mrs. Kemi Adeosun, has revealed that the Federal Government has saved N68 billion on personnel cost in 2017; bringing the aggregate savings by the government on personnel cost since 2007 to date to N288 billion. Adeosun made this disclosure on Wednesday during her presentation of “Status Update on the Implementation of […]

News

Review tariff on alcohol, tobacco, to avoid massive job loss, union charges FG

Ihesiulo Grace 27 February 2018 0

The Food, Beverage and Tobacco Senior Staff Association (FOBTOB) have urged the Federal Government to re-evaluate the recommendation made by the Minister of Finance, Mrs. Kemi Adeosun to raise tariff on alcohol and tobacco because of their health implications and to raise revenue, hinting that it would lead to massive job loss in the country. […]

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Nigeria, other African countries lose $80bn annually to illicit financial flows

Ihesiulo Grace 16 February 2018 0

Nigeria, global organizations, including the Organization for Economic Cooperation and Development (OECD) and the World Bank Group, have agreed on high-level collaborations to check the trend of Africa’s yearly loses amounting to $80bn through Illicit Financial Flows(IFF). Nigeria is said to be the worst hit, with a significant percentage. This was a major resolution

News

Adeosun condoles with Leadership over photojournalist’s death

Ihesiulo Grace 24 December 2017 0

The Honourable Minister of Finance, Mrs. Kemi Adeosun, has expressed sadness over the news of the death of a senior photographer with the Leadership Newspaper, Mr. Christopher Danladi. Danladi was involved in a heartrending road accident on Monday, 18th December, while on an official engagement to Taraba State. Adeosun, in a condolence letter to the […]

Business

Finance ministry, OAGF comply with Fiscal Responsibility Act, says Adeosun

Ihesiulo Grace 24 December 2017 0

…Draws up daily, monthly cash payment plan The Minister of Finance, Mrs. Kemi Adeosun has said that his ministry has synergized effectively with the Office of the Accountant General Of the Federation (OAGF) by adhering strictly to Fiscal Responsibility Act. Adeosun also disclosed that beyond this, her ministry has also drawn up daily, monthly cash […]

Business

Nigerian govt. releases N750bn 2017 capital budget – Adeosun

Ihesiulo Grace 20 December 2017 0

The Federal Ministry of Finance said on Tuesday it had started the release of N750 billion capital appropriation in the 2017 budget to ministries, departments and agencies, MDAs. The Minister of Finance, Kemi Adeosun, who disclosed this while appearing before the Senate Committee on Finance as part of the 2018 Budget Defence, said most accounts […]

Business

FG Releases N750bn Capital Projects Fund to MDAs

Ihesiulo Grace 19 December 2017 0

The Federal Government has commenced the release of the N750 billion capital projects for 2017 to Ministries, Departments and Agencies (MDAs). Minister of Finance, Mrs. Kemi Adeosun stated this on Monday during the ministry’s budget defense when she appeared before Senate Committee on Finance at the National Assembly complex in Abuja. “The accounts of the […]

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FG to release additional N750bn for 2017 capital projects

Ihesiulo Grace 11 December 2017 0

The Federal Government has said that it will release additional N750billion this week to Ministries, Departments and Agencies (MDAs) for implementation of the capital projects contained in the 2017 Budget. The Minister of Finance, Mrs Kemi Adeosun, disclosed this on Monday in her office during a meeting with a delegation of investors from France in […]

Business

Reps to investigate graft allegations against suspended SEC boss

Ihesiulo Grace 6 December 2017 0

….To probe $300m TCN gas project The House of Representatives on Tuesday resolved to probe allegations of corruption leveled against the suspended Director General of the Security and Exchange Commission (SEC), Munir Gwazo by the Minister of Finance, Kemi Adeosun. To this end, the House has asked the parties in the matter to maintain status […]

News

Nigerian govt reduces import, export required documents

Ihesiulo Grace 30 November 2017 0

Kemi Adeosun, Nigeria’s Minister of Finance, says the Federal Government has reduced documentation requirements for import and export, to facilitate trade. Adeosun made this known on Thursday in Lagos at a Sensitisation Workshop with the theme: “Understanding Nigeria’s Revised Import and Export Guidelines, Procedures and Documentation Requirements for Ease of Doing

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FG Stopped Payment of Maina’ salary since March 2013 – Adeosun

Ihesiulo Grace 30 November 2017 0

The Minister of Finance, Mrs. Kemi Adeosun on Thursday, revealed that the Federal Government stopped the payment of salary to the former Chairman of the Presidential Taskforce Team on Pension, Mr. Abdulrasheed Maina, in March 2013. Adeosun made this disclosure in Abuja while appearing before the House of Representatives’ Ad-Hoc Committee Investigating the Disappearance,

Business

Nigeria has raised $3bn from Eurobond-Adeosun

Ihesiulo Grace 29 November 2017 0

Till date, Nigeria has raised a total of $3 billion from the Eurobond issuance, and Nigerians have been raising questions on why the forex denominated bond was raised as well as its impact on the overall economy and the populace. Nigeria’s finance minister, Mrs. Kemi Adeosun, in this interview provided answer to salient issues and […]

News

Federal Government recruits 2,190 new tax officers

Ihesiulo Grace 27 November 2017 0

Minister of Finance, Mrs Kemi Adeosun says the Federal Government has recruited and trained 2,190 Community Tax Liaison Officers (CTLOs) under the Voluntary Assets and Income Declaration Scheme (VAIDS). Adeosun, in a statement by her Special Adviser, Media and Communications, Mr Oluyinka Akintunde, said that 1,710 CTLOs had already been deployed to 33 states, out […]