Federation Account

Ahead of the November 16 Kogi State governorship election, the Peoples Democratic Party (PDP) has cautioned the All Progressives Congress (APC) to refrain from playing the ethnic card, and instead, get ready to face the consequences of the “serious issues of poor governance it foisted on the people of the state since 2016.”

The Ogun State House of Assembly on Thursday lifted the suspension placed on the Chairmen of the 20 Local Government Councils and 37 Local Council Development Areas in the state instituted by the 8th legislature.

The Federal Inland Revenue Service (FIRS) says about 45 million Nigerians will be captured as taxpayers before December 2019.

The Nigeria Extractive Industries Transparency Initiative (NEITI) said that N28.58 trillion was remitted to the Federation Account between 2012 and 2016, from mineral revenues, non-mineral revenues and Value Added Tax (VAT).

N28.58 trillion was remitted to Nigeria’s Federation Account between 2012 and 2016, according to a report from the Nigeria Extractive Industries Transparency Initiative (NEITI).

High-profile tax defaulters got a 30-day window to regularise their tax status with the Federal Inland Revenue Service (FIRS), failing which they risk forfeiting the tax equivalent directly from their bank accounts to the Federal Government.

The Akwa Ibom State Government has finally come to terms with the reality about the education sector in the state. The government on Thursday organised a summit to seek expert opinions on how to fix the broken school system.

The Lagos Chamber of Commerce and Industry has advised the Central Bank of Nigeria to discontinue the official exchange rate of N305 to one United States dollar.

The Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) said the Federal Inland Revenue Service (FIRS) contributed 59.7 per cent of revenues in the Federation Account in the last three months.

Fifty oil firms operating in the Niger Delta region are owing the Niger Delta Development Commission (NDDC) N1.2 trillion in form of unpaid dues to the Commission, it was gathered yesterday.

Revenue generating agencies must refrain from holding on to revenue collected on behalf of the Federal Government, the Chairman of the House of Representatives Committee on Finance, James Faleke, has said.

Sen. Dino Melaye, representing Kogi West Senatorial District at the National Assembly, on Wednesday, pledged to revive the state economy and bring it to an enviable height within four years, adding that he will contest for President in the next 8 years.

As local governments celebrate the autonomy granted them, Governor Abdullahi Sule of Nasarawa State has said that some of them woill find it difficult to pay salaries without borrowing.

The police have arraigned a whistle-blower, George Uboh, for alleged defamation against the Governor of the Central Bank of Nigeria, Godwin Emefiele.

Governor Aminu Masari of Katsina State, on Friday said his administration has no problem with implementation of the new national minimum wage for workers.

The Zamfara State chapter of Association of Local Governments of Nigeria (ALGON) has accused the State Government of denying Local Governments in the state of their funds remitted from the federation account in spite of the Presidential order that such funds be sent directly to the councils’ accounts.

President Muhammadu Buhari on Thursday swore in the Chairman and thirty Commissioners of Revenue Mobilization, Allocation and Fiscal Commission at the State House.

Nigerian governors under the auspices of the Nigeria Governors Forum met in Abuja on Wednesday night to deliberate on the remittance of statutory fund from Federation Account direct to the 774 councils based on the orders of Nigeria Financial Intelligent Unit.