Business

Adeosun seeks more technical, institutional support for West Africa’s economy

Ihesiulo Grace 13 March 2018 0

The Minister of Finance, Mrs. Kemi Adeosun, on Tuesday called for more technical and institutional support from the Africa Regional Technical Assistance Center West 2 (AFRITAC West 2) for West African countries. Adeosun made the call while declaring open the sixth Steering Committee meeting of

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Adeosun, MTN Foundation donates food, household items to Orphanage

Ihesiulo Grace 11 March 2018 0

MTN Foundation has donated food and household items under its Orphanage Support Initiative to Olive Blooms Orphanage Home in Lagos. The Minister of Finance, Mrs. Kemi Adeosun, handed over the goods on Friday in Lagos to the Founder of Olive Blooms Orphanage Home, Mrs. Ngozi Ken Ugochukwu. Special Adviser to the minister on Media and […]

Business

Tax underpayment: FG reviews data of 130,000 high net worth persons, companies – Adeosun

Ihesiulo Grace 6 March 2018 0

…Mines data from Federal, state agencies, foreign countries through Project Lighthouse The data mining efforts of the Federal Government through the Federal Ministry of Finance has identified a new batch of over 130,000 high net worth individuals and companies that have potential tax underpayments. The Honourable Minister of Finance, Mrs. Kemi Adeosun, revealed this on

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Adeosun urges tax payers to demand for written notice from tax officials

Ihesiulo Grace 4 March 2018 0

The Minister of Finance, Mrs. Kemi Adeosun has advised tax payers to demand for written notice when they receive phone calls from tax officials. She gave this advice in response to the activities of some fake tax officials alleging to be officials of the Voluntary Assets and Income Declaration Scheme (VAIDS). In a statement on […]

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Adeosun calls for strict sanctions on multinationals evading tax

Ihesiulo Grace 20 February 2018 0

Minister of Finance, Mrs. Kemi Adeosun, has called for the designation of tax malpractices by Multinational Corporations in Nigeria and other developing countries as ‘foreign corrupt practices’ and should be followed with heavy sanctions. Adeosun made the call at the Platform for Collaboration on Tax (PCT) Conference in New York, which rounded up over the […]

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Africa loses $80bn annually through money laundering

Ihesiulo Grace 17 February 2018 0

…Nigeria, global bodies move to stop Illicit Financial Flows The Minister of Finance, Mrs Kemi Adeosun has said that Africa loses whopping $80 billion annually quoting the report of former South African President Mbeki’s High-Level Panel on IFFs, the Minister said that the money are lost to Illicit Financial Flows (IFFs), with a significant percentage […]

Business

Adeosun to address UN, OECD’s conference on tax, revenue leakages

Ihesiulo Grace 12 February 2018 0

The Honourable Minister of Finance, Mrs. Kemi Adeosun, has been invited by the Organisation for Economic Cooperation and Development to speak at the Platform for Collaboration on Tax Conference on Thursday, February 15, at the United Nations in New York. The Platform for Collaboration on Tax (PCT) Conference, which will hold between February 14 and […]

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FG’ll retain capital budget despite forthcoming elections- Adeosun

Ihesiulo Grace 12 February 2018 0

The Federal Government’s capital budget would be strictly deployed to fund infrastructure projects across the country, particularly the completion of ongoing projects, the Honourable Minister of Finance, Mrs. Kemi Adeosun, has said. The Government, she added, would retain the capital budget despite forthcoming elections in the country. In a statement by the Special

News Nigeria

VAIDS: Adeosun stresses essence of regular tax payment to Nigeria’s growth

Ihesiulo Grace 9 February 2018 0

…says 56m economically active Nigerians not tax compliant The Honourable Minister of Finance, Mrs. Kemi Adeosun, on Thursday, declared that regular payment of taxes by Nigerians was fundamental to the growth and development of the country. A statement by the Special Adviser Media and Communications to the Minister of Finance,Oluyinka Akintunde, Adeosun affirmed that

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56 million viable Nigerians don’t pay tax – Finance Minister

Ihesiulo Grace 9 February 2018 0

The Minister of Finance, Mrs. Kemi Adeosun, has said that Nigeria has a poor scorecard on tax payment, disclosing that about 56 million economically active people in the country do not pay tax. Adeosun, who noted that only 14 million people pay tax out of about 70 million economically active Nigerians, said payment of taxes […]

Business

Public finance: Adeosun tasks treasury managers on accountability, transparency

Ihesiulo Grace 4 February 2018 0

Honourable Minister of Finance, Mrs. Kemi Adeosun, has challenged Treasury managers to ensure transparency and accountability in the management and control of the country’s public finance. She gave the advice at the second National Treasury Workshop held in Tinapa, Cross River State. The workshop was attended by Directors of Finance and Accounts in all Federal […]

Economy

FAAC distributes N655.177bn to FG, States, LGAs

Ihesiulo Grace 24 January 2018 0

The Federal Account Allocation Committee (FAAC) has shared a whopping N655.177 billion to the three tiers of government being the monthly allocation for the month of December 2017. Chairman of FAAC and Minister of Finance, Mrs Kemi Adeosun who announced the figures on Tuesday, said that the gross statutory revenue of N540.446 billion received for […]

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UN appoints Adeosun into pension fund’s investments committee

Ihesiulo Grace 14 January 2018 0

The United Nations has appointed Nigeria’s Minister of Finance, Mrs. Kemi Adeosun into the Investments Committee of the United Nations (UN) Joint Staff Pension Fund (UNJSPF). The Under-Secretary-General of the UN, Jan Beagle, who confirmed Adeosun’s appointment, disclosed that the Minister would serve a one-year term of office effective January 1, 2018. The UNJSPF is […]

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Finance Minister suspends SEC DG, 2 others over alleged financial impropriety

Ihesiulo Grace 29 November 2017 0

The Minister of Finance, Mrs. Kemi Adeosun, has suspended the Director General of the Securities and Exchange Commission (SEC), Mr. Mounir H. Gwarzo, from Office, to allow for an unhindered investigation of several allegations of financial impropriety leveled against the Director-General. Adeosun said that the suspension was in line with the Public Service Rules (PSRs)

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VAIDS: FG deploys over 1,700 CTLOs to states – Adeosun

Ihesiulo Grace 27 November 2017 0

…Rules out extension of March 31 2018 deadline for tax evaders The Federal Government has recruited and trained 2,190 Community Tax Liaison Officers (CTLOs) under the Voluntary Assets and Income Declaration Scheme (VAIDS), the Honourable Minister of Finance, Mrs. Kemi Adeosun, has said. The minister has also confirmed the review of the tax profiles of […]

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N13billion recovery: Whistleblower ‘ll be paid this month – Finance Minister

Ihesiulo Grace 13 November 2017 0

The Minister of Finance, Mrs. Kemi Adeosun, has said that the whistleblower who provided information that led to the recovery of N13 billion cash by the Economic and Financial Crime Commission (EFCC) in Ikoyi, Lagos private home will be paid this month. Adeosun, who explained that the delay was due to the need to follow […]

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Tax Havens: FG to crosscheck Offshore tax declaration by Nigerians

Ihesiulo Grace 8 November 2017 0

The Minister of Finance, Mrs. Kemi Adeosun, has said that the Federal Government’s Offshore Tax Havens will no longer offers protection for tax evaders. She said that the government would crosscheck offshore tax declaration by Nigerians. Adeosun advised Nigerians to review any existing tax planning schemes, including those in offshore tax havens, in order to […]

Business

Our Strategy Will Mitigate Debt Service Risk – FG

Ihesiulo Grace 2 November 2017 0

The Honourable Minister of Finance, Mrs. Kemi Adeosun, has expressed confidence that the Federal Government’s revenue and debt management strategy would mitigate the country’s debt service risk and fast-track her development. The Minister, who welcomed the advice of Nigeria’s international development partners, including the International Monetary Fund, said the strategy

Business News

Ghost workers payroll : Finance Minister lauds PICA, EFCC for arraigning 9 suspects

Ihesiulo Grace 2 November 2017 0

The Minister of Finance, Mrs. Kemi Adeosun, has commended the Presidential Initiative on Continuous Audit (PICA) for detecting pay roll fraud by nine civil servants suspected to be involved in siphoning public funds by inserting fake workers in the payroll of Federal Ministries. The nine suspects were on Wednesday, arraigned before an Abuja High Court […]

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Federation Account recorded N797bn VAT revenue in 10 months – Adeosun

Ihesiulo Grace 1 November 2017 0

*To extend tax compliance to private sector Ganiyu Obaaro The Honourable Minister of Finance, Mrs. Kemi Adeosun, revealed on Tuesday, that revenue from Value Added Tax (VAT) grossed N797.51billion into the Federation Account between January and October, 2017. Accounting to the latest figure released by the Federal Ministry of Finance, non-oil revenue represents 46.15 per