…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 trillion collected in the first quarter of 2018 represented 51 per cent […]
…Why we’re going after illegal varsities – Magu The Economic and Financial Crimes Commission (EFCC) has disclosed that it has recovered N28 billion from tax defaulters on behalf of the Federal Inland Revenue Service (FIRS). In a statement signed by the spokesman of the commission, Mr. Wilson Uwujaren and made available to The Daily Times, […]
In December 2017, Abia State Government, ABSG commenced the process of computerizing the internally generated revenue collection system of the state with a view to removing leakages within the old system in order to shore up the state’s internally generated revenue. However, the failure to observe this government computerization process and instructions has earned the […]
The Nigeria Customs Service has set a revenue target of N1.5 trillion for 2018.The Comptroller-General of Customs, Hammed Ali, disclosed this at the first management meeting for 2018 held in Abuja. A statement by Joseph Attah, Customs PRO on Monday, said that in 2017, the Service generated N1.37 trn, surpassing the year’s target of N770.57 […]
….Moves to block revenue leakages by contractors The Federal Government has ordered vendors of Ministries, Departments and Agencies (MDAs) to display their Tax Identification Numbers (TINs) on their invoices before payments are effected by the MDAs. The FG’s directive was handed down on Tuesday in Abuja, by the Honourable Minister of Finance, Mrs. Kemi Adeosun […]
Governor Kashim Shettima on Thursday presented Borno’s 2018 Budget of N170. 2 billion with education getting the highest amount of N27 billion in an estimate that allocated 65 percent for capital projects leaving recurring with N61.8 billion. Addressing the State House of Assembly in Maiduguri, the Governor announced that the draft, titled, ‘Budget of Resettlement […]
…Catholic faithful flay kidnappers’ interest-in fathers, sisters Stakeholders in the administration of justice Thursday sought for financial independence for the judiciary, stating that the amount of credit standing to the arm should be paid directly to the Heads of court from the Consolidated Revenue Fund in line with Section 121 (3) of the Constitution of […]
In pursuit of its vision to diversify the economy and discourage Nigeria’s reliance on oil as the mainstay of the economy, the Federal Executive Council (FEC) wednesday approved N1.5 billion to drive projected $1 billion tax revenue within nine months. The Minister of Finance, Mrs. Kemi Adeosun, who made this disclosure while briefing State House […]
The Executive Chairman of Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, has said that the revenue agency has achieved 79.35 per cent of its collection target for 2017, represented total generated amount of N3.233 trillion in 10 months. The revenue collector boss, disclosed this on yesterday at interactive session for review of 2018–2020 Medium […]
The Lagos State Internal Revenue Service (LIRS), has shut 13 hotels, restaurants and event centres for failure to pay their taxes due under the Hotel Occupancy and Restaurant Consumption Laws of Lagos State 2009. The hotels and restaurants were said to be owing the state a sum of N426,976,528.87. Speaking on the state-wide tax enforcement […]
Nigeria’s revenue projection of N6.6tn in the presented 2018 budget has been termed as ‘very optimistic’ by BudgIT, a Lagos based analytical firm committed to simplifying the budget and matters of public spending for citizens, with the primary aim of raising the standard of transparency and accountability in government. Giving reasons for this observation, the […]
Managing Director, Awka Capital Territory Development Authority, Mr. Michael Okonkwo, says the monthly internally generated revenue of the state has increased from N500 million to N1.5 billion. Okonkwo told the News Agency of Nigeria (NAN) in Awka on Saturday that the Authority`s revenue profile also increased from N13 million to N20 million monthly. He said […]
The Senate ad hoc committee, has disclosed in a report that 25 government agencies have failed to remit N1.695 trillion revenue to the consolidated revenue fund. The committee also disclosed that the Nigerian National Petroleum Corporation (NNPC) was running on a deficit of about N3.115 trillion between 2012 and 2016. NAN reports that the committee […]
Following disparity in the remittances of Joint Admissions and Matriculation Board (JAMB) and the Nigerian Maritime Administration and Safety Agency (NIMASA) in the past and now, the Federal Government ordered the probe of the past heads of the agencies, having smelt seedy misdeeds. While many have hailed the decision of the Federal Government, a handful […]
In a bid at boost the dwindling revenue from crude oil, the Federal Government has earmarked N15bn for the exploration of solid minerals across the country comes next year. This is, according to the Minister of Mines and Steel Development, Dr. Kayode Fayemi, who made this known during the opening session of the second edition […]
Cumulative unremitted revenue from domestic crude oil sales by the Nigerian National Petroleum Corporation, NNPC, stood at about N3.878 trillion as at December 31, 2015, a report by the technical sub-committee of the Federation Accounts Allocation Committee, FAAC, has revealed. The report, which formed part of the submissions in the 2015 Annual Audit Report of […]
• Says partnership’llaideconomic growth The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside has expressed the willingness of the agency to partner with the Nigeria Customs Service (NCS) to bring the desired growth and development to the Nigerian maritime industry and by extension the Nigerian economy. The proposed areas […]
International Data Corporation (IDC) WW Quarterly Cloud Infrastructure Tracker indicates IT infrastructure spending (server, disk storage, and Ethernet switch) for public and private cloud in Europe, the Middle East, and Africa (EMEA) grew 19.5 percent year on year (YoY)to reach $1.5 billion in revenue in the third quarter of 2016. The cloud-related share of total […]
Manchester United generated the most revenue of any football club in the world last season, according to a report published by Deloitte. United dethrone Real Madrid – who held top spot for 11 years – after accumulating a record revenue of 689m euros (£515m) during the 2015-16 term. The Premier League club saw commercial revenue […]
Lagos state governor, Mr. Akinwunmi Ambode, on Sunday hailed tax payers in the state for performing their civic obligations faithfully, saying the state recorded more Internally Generated Revenue (IGR) in 2016 than what was recorded in 2015 despite economic recession in the country. As at December 16, 2016, the state had raked in N287 billion […]