Economy Archives — Page 9 of 247

January 18, 2025 No Responses

FG, States, LGAs Share ₦1.424tri

A total sum of N 1.424 trillion, being December 2024 Federation Account Revenue, has been shared to the Federal Government, States and Local Government Councils. The revenue was shared at the January 2025 Federation Account Allocation Committee (FAAC) meeting held...

January 17, 2025 No Responses

Tinubu Lauds Govs For Supporting Tax Reform Initiatives

President Bola Tinubu has expressed his appreciation for the Nigeria Governors’ Forum following their unanimous endorsement of the four Tax Reform Bills currently under consideration by the National Assembly.President Tinubu lauds the governors for their...

January 17, 2025 No Responses

Govs Back Tax Reform Bills

The 36 state governors in Nigerian have thrown their weight behind the Federal Government’s tax reform bills. The governors are also proposing a new sharing formula for value-added tax (VAT). The decision followed a meeting of the Nigeria Governo...

January 17, 2025 No Responses

NIMASA Targets N537b Revenue In 2025

The Nigerian Maritime Administration and Safety Agency (NIMASA) is to attain N560 billion revenue for the year 2025. Director General of NIMASA, Dr. Dayo Moboreola, announced this on Thursday during the agency’s budget defence before the Nati...

January 17, 2025 No Responses

Alleged N1.96bn Fraud: Court Slates Jan 31 For Ex- AGF’s Trial

Justice James Omotosho of the Federal High Court, Maitama, Abuja has fixed January 31, 2025 for the trial of the formerActing Accountant General of the Federation, AGF, Anamekwe Nnabuoku for alleged multiple financial fraud to the tune of N1.96billion.Nnabuo...

January 17, 2025 No Responses

Alleged N12.3b Fraud: EFCC To Arraign Otudeko, Ex-First Bank MD

The Economic and Financial Crimes Commission (EFCC) has filed a 13-count criminal charge against the Chairman, Honeywell Group, Chief Oba Otudeko and a former Managing Director of First Bank, Olabisi Onasanya for allegedly obtaining the sum of N12.3bn from Fir...

January 16, 2025 No Responses

NPA: NASS Raises 2025 Revenue Target To ₦1.7tri

The Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, on Wednesday disclosed that the agency generated N753 billion in 2024. The NPA boss who stated this during a presentation on NPA’s 2024 revenue performance and 2025 projections to ...

January 16, 2025 No Responses

Kyari: NNPCL Remitted ₦10tri In 2024

For the year 2024, the Nigerian National Petroleum Company Limited (NNPCL) remitted ₦10 trillion to the federation account. The Group Chief Executive Officer (GCEO), NNPCL, Malam Mele Kyari stated this on Wednesday during a presentation on NNPCL’s 20...

January 16, 2025 No Responses

NASS Raises FIRS 2025 Revenue Target To ₦25tri

The National Assembly has raised the revenue target for the Federal Inland Revenue Service (FIRS) following revelations by Executive Chairman, Zacch Adedeji, that it had surpassed its 2024 revenue collection target, exceeding the ₦19.4 trillion target s...

January 15, 2025 No Responses

Disconnect Zenith Bank, Fidelity, FCMB, Others, NCC Directs Telcos

The Nigerian Communications Commission (NCC) has directed telecommunications companies (telcos) to disconnect the unstructured supplementary service data (USSD) codes assigned to nine banks due to unpaid debts.In a statement issued by Reuben Muoka, NCC Directo...

January 15, 2025 No Responses

CBN Sanctions Zenith Bank, Fidelity, Others For ATM Cash Scarcity

The Central Bank of Nigeria (CBN) has sanctioned Deposit Money Banks (DMBs) for failing to make Naira notes available through automated teller machines (ATMs), during the yuletide season. The affected banks include Zenith Bank, Fidelity Bank Plc, First Bank Pl...

January 15, 2025 No Responses

NDLEA Budgets ₦67.5b For 2025

For the year 2025, the National Drug Law Enforcement Agency (NDLEA) has budgeted N67.5billion. Speaking on Tuesday, Chairman of the agency, Brigadier General Mohamed Marwa (Rtd) urged the National Assembly to support the agency in its fight against subst...

January 15, 2025 No Responses

EFCC Arrests Internet Fraudsters In Benin City

Operatives of the Benin Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on Tuesday, January 14, 2025 arrested seven suspected internet fraudsters in Benin City, Edo State. According to EFCC, the suspects were arrested based on cre...

January 15, 2025 No Responses

Senate Rejects ₦8.9bn 2025 Budget For Information Ministry

The Senate Committee on Information and National Orientation has rejected the ₦8.9 billion allocation in the 2025 budget proposal to the Federal Ministry of Information and National Orientation, describing it as inadequate. The Chairman of the Committee, Sen...