The Acting Accountant-General of the Federation, Chukwuyere Anamekwe has called for fiscal discipline in the management of government revenues to reduce the current pressure on funds. Anamekwe made the call at the 4th Retreat for members of the Technical Sub-committee on Cash Management, Tuesday in Nasarawa State. He noted, that due...
TAJBank Limited, Nigeria’s leading non-interest bank, has signed a Memorandum of Understanding (MoU) with the Islamic Corporation for the Development of the Private Sector (ICD), a member of the Islamic Development Bank (IsDB) Group, aimed at attracting funding for major infrastructure projects in Nigeria. The MOU signing between TAJBank and...
The Federal Inland Revenue Service (FIRS) said, it would embark on a nationwide Value Added Tax (VAT) and Withholding Tax (WHT) compliance exercise from July, 2022. This information was contained in a public notice announcing the compliance monitoring exercise, and signed by the FIRS Executive Chairman, Muhammad Nami. The exercise is...
African Export Import Bank (Afreximbank) has announced the disbursement of a US$300 million Intra-African Investment Financing Facility to Titan Trust Bank (TTB) to support its acquisition of a majority stake in Union Bank Plc, Nigeria (UBN). The deal will enhance the competitive dynamics of the Nigerian banking sector, while maintaining...
TAJBank Limited, Nigeria’s leading non-interest bank, is set to launch Nigeria’s first private sector Sukuk offering under a N100 billion programme. The bank’s Sukuk offering, which is currently undergoing regulatory approvals, is expected to be launched soon, marking a historic shift from government-dominated Sukuk offerings to a fully private sector-oriented...
The Federal Inland Revenue Service (FIRS) has stated that it will commence the process of enforcement and recovery of unremitted tax deductions owed by some States and Local Governments in Nigeria. This decision is contained in a Public Notice, signed by its Executive Chairman, Muhammad Nami, where the tax authority...
The Central Bank of Nigeria (CBN) said, its governor, Mr Godwin Emefiele was not sacked as being speculated. CBN says the online media reports purporting the sack of the bank’s governor, Mr Godwin Emefiele, was untrue. Head of Corporate Communications at the CBN, Osita Nwanisiobi, made the rebuttal on Wednesday in...
The President, African Development Bank Group, Dr Akinwumi Adesina has said, the continent of africa needs about $432billion for its economy to recover fully from the effects of Covid-19. Dr. Adesina disclosed this following the 2022 African Economic Outlook, released by the Bank on Wednesday. The 2022 Outlook shows that Africa’s...
The Federation Account Allocation Committee (FAAC) has shared a total sum of N656.602 Billion April 2022 Federation Account Revenue to the Federal Government, States and Local Government Councils. This was contained in a communiqué issued at the end of a virtual meeting of the Federation Account Allocation Committee (FAAC) for...
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has voted to raise interest rate to 13 percent from the previous rate of 11.5 percent. MPC's decision to raise the benchmark interest rate was announced by the apex bank's Governor, Mr Godwin Emefiele while briefing newsmen shortly...