ABUJA, Nigeria — The Federal Government has said the removal of petrol subsidy by President Bola Ahmed Tinubu has ended a longstanding economic drain, saving Nigeria over $84 billion and …
Tag:
FAAC
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DevelopmentEconomyFinance & ServicesGOVERNMENTNigeriaOil & GasPolitics
FIRS and RMAFC Form Joint Committee to Strengthen Tax Monitoring and Boost Revenue Sharing
The Federal Inland Revenue Service (FIRS) and the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) have come together to set up a joint technical committee that will help improve how …
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The Nigerian Government disclosed that the Federation Account Allocation Committee (FAAC) allocated the sum of N760.235 billion to the Federal Government, states and local governments in September. This was disclosed in a …
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BusinessBusiness and EconomyNigeriaWestern Africa
Nigerian Government warns against CBN’s proposed loan recovery from FAAC revenue
Nigerian Government have warned that given the constant reductions in FAAC Allocation to states, it would be suicidal if the Central Bank of Nigeria (CBN) goes ahead to carry out its proposed recovery of …
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AfricaAFRICA NEWSBanking, Finance & InvestmentBusinessNewsNigeriaWestern Africa
CBN begins deductions from states, and farmers’ accounts to recover loans from its intervention programmes
The Central Bank of Nigeria (CBN) has commenced deductions from accounts of defaulters under its development finance interventions to recover outstanding loans. Yusuf Yila, director, development finance of the CBN, said this …
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The Federation Account Allocation Committee (FAAC) has shared a total sum of N802.407 billion being revenue that was generated in June 2022 to the federal government, states and local governments …