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Company Income Tax

Tax tribunal orders Ecobank to pay N1.6 billion to FIRS

The Tax Appeal Tribunal has declared as illegal, null and void the decision of Ecobank Nigeria Limited to pay N5, 545,000,000 as dividends to its shareholders in 2016.
The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr Muhammad Nami, has launched a national tour of the six geo-political zones to sensitise the nation, especially taxpayers, on the 2019 Finance Act.

Nigeria: FIRS sole collector of stamp duty

The federal government has finally put to bed the controversy over who will collect stamp duty has finally been rested.
The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr Muhammad Nami, has launched a national tour of the six geo-political zones to sensitise the nation, especially taxpayers, on the 2019 Finance Act.

FIRS chief takes Finance Act advocacy to stakeholders

The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr Muhammad Nami, has launched a national tour of the six geo-political zones to sensitise the nation, especially taxpayers, on the 2019 Finance Act.
Zainab Ahmed

Minister hails Buhari for signing Finance Bill

Minister of Finance, Budget and National Planning, Mrs. Zainab Shamsuna Ahmed, on Tuesday commended President Muhammadu Buhari for signing the Finance Bill into law.
President of the Senate, Ahmad Ibrahim Lawan (left) with the Senate Minority Whip, Senator Philip Tanimu Aduda, during the plenary on Tuesday, November 19, 2019. 5

Labour, OPS slam senate, federal government over finance bill

Nigeria’s Senate decision to approve 56 amendments in Finance Bill, an executive bill submitted by President Muhammadu Buhari, seeking an approval to raise tax rates payable by consumers and business entities to augment Federal Government’s declining cashflow, last week opened another pandora box of debate as to the fate of ordinary citizens when it eventually gets signed into law by the president in the days and weeks ahead.
Ahmed Idris, the Accountant-General of the Federation (AGF)

Federal government, states, local councils share N693.529 billion for September

The Federal Government, 36 states and the Federal Capital Territory and 774 local government areas shared N693.529 billion as of September allocation disbursed by the Federation Account Allocation Committee (FAAC).
The minister of Finance, Budget and National Planning Mrs Zainab Ahmed disclosed this on Tuesday during her maiden meeting with top officials of the two merged ministries at the headquarters of Budget and National Planning in Abuja.

We will not reach 80% revenue performance for 2019 – minister

Mrs Zainab Ahmed, the Minister of Finance, Budget and National Planning, says the nation will not be able to reach 80 per cent revenue performance for 2019.

Discos fault PwC claims on non-payment of tax

Following a fresh claim by PriceWaterhouse Coopers (PwC) that the electricity distribution companies (DisCos) have not paid tax to the Federal Government(FG) since privatization of the power sector in 2013, the 10 DisCos have faulted the claim.

African leaders to invest $1 trillion on infrastructure

African nations are targeting to invest $1 trillion over the next 10 years to bridge the worrisome infrastructure gap on the continent.

Reps: Over $900 million found in secret non-TSA accounts

The House of Representatives said it discovered that over $900m was still “being held” by Federal Government’s ministries, departments and agencies (MDAs) outside Treasury Single Account (TSA).

Delta, Akwa Ibom received highest as federal, states, local governments shared N8 trillion in...

A new report has disclosed that the federal government, 36 states and the 774 local government councils in Nigeria shared a total sum of N8 trillion from the Federation Account in 2018 in spite of the shut-ins in several oil installations during the period.

Experts: VAT increment will further worsen Nigerians’ situations

A notice by Minister of Budget and National Planning, Senator Udoma Udo Udoma and Executive Chairman of Federal Inland Revenue Service (FIRS) Mr. Babatunde Fowler of government’s intention to raise the rate of value added tax (VAT) before the end of 2019 is presently causing ripples among various categories of Nigerians.

FIRS: Non-oil sector contributes 54% of N5.32t 2018 revenue

The Federal Inland Revenue Service on Thursday disclosed that the non-oil sector contributed about 54 per cent of the N5.32 trillion revenue it generated in 2018.
National Bureau of Statistics NBS

NBS: FAAC disbursed N270.17 billion to federal government in January

The Federation Account Allocation Committee (FAAC), disbursed the sum of N270.17 billion to the Federal Government in January, 2019, the National Bureau of Statistics (NBS) has disclosed.
Zainab Ahmed

Zainab Ahmed: Federal government to release N1.1 trillion by December for 2018 capital projects

The Minister of Finance, Mrs. Zainab Ahmed, Thursday said a total sum of N1.1 trillion would have been released for the implementation of capital projects across the country by the end of December.
Manufacturers Association of Nigeria (MAN)

MAN advocates PPP programmes for infrastructure development

The Manufacturers Association of Nigeria (MAN) has urged the Federal Government to engage in Public-Private Partnership (PPP) programmes through concession agreements to ensure infrastructure development and economic growth.
President Buhari presides over Federal Executive Council (FEC) Meeting in State House on 17th Oct 2018 3

Federal government slashes 2019 budget size to N8.6 trillion from N9.1 trillion

The Federal Government, yesterday, proposed N8.6 trillion budget for 2019 fiscal year as against the earlier figure of N9.1 trillion, while envisaging a total revenue of N7.9 trillion.
President Buhari receives in Courtesy visit H.E. Thabo Mbeki Chairperson AU High Level Panel on Illicit Financial Flows from Africa in State House on 4th Oct 2018 2

Nigeria, Africa states lose $50 billion in illicit financial flow

African leaders yesterday rose in unison to address a plethora of internal system failure which robs the continent a whopping $50 billion annually via illicit financial flows.

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Medical council validates four coronavirus test kits – registrar

The Medical Laboratory Science Council of Nigeria (MLSCN) says it has validated four Rapid Test Kits to determine their suitability for testing SAR-COV-2 infection popularly known as COVID-19 in the country.
Legendary reggae artiste, Majekodunmi Fasheke, aka Majek Fashek is dead. The artiste died in a New York hospital after a protracted illness on Monday about 5-45pm. He was aged 71.

Nigerian celebrities mourn deceased Majek Fashek

Nigerian celebrities have taken to their social media platforms to mourn the death of Music Legend, Majekodunmi Fasheke, a.k.a Majek Fashek.
Rwanda says it will announce new restrictions on containing the coronavirus Tuesday, a stark reversal of the country's plan days ago to ease restrictions, including motor vehicle travel throughout the country.

Rwanda set to announce new coronavirus restrictions

Rwanda says it will announce new restrictions on containing the coronavirus Tuesday, a stark reversal of the country's plan days ago to ease restrictions, including motor vehicle travel throughout the country.
Nigerian President Muhammadu Buhari3

Nigeria declares telecoms facilities critical national Infrastructure

In response to the yearnings of industry stakeholders to declare telecom facilities Critical National Infrastructure, President Muhammadu Buhari, has finally approved and also directed that necessary physical protective measures be put in place to safeguard telecommunications infrastructure deployed across the country.
President Muhammadu Buhari has again, addressed Nigerians on the efforts of its government to contain the coronavirus pandemic (covid-19) that is ravaging the country 4

ASCAB: President Buhari’s speech underestimate Sani Abacha’s $5 billion loot

Alliance for Surviv­ing COVID-19 and Beyond, (ASCAB), a group led by prominent Nigerian human rights lawyer, Femi Falana has said that President Mu­hammadu Buhari’s claim that late dictator, Sani Abacha, stole $1 billion con­tradicts the figures earlier released by his own officials.