Following the recent policy on currency redesign, the Central Bank of Nigeria (CBN) has pledged to protect the unbanked and underserved Nigerians, especially at the rural areas. CBN made the pledge in a statement issued by its Director, Corporate Communications, Osita Nwanisobi on Sunday in Abuja. The apex bank while giving...
The Acting Accountant General of the Federation, Mr Sylva Okolieaboh, has inaugurated a joint committee to address the peculiarities of Nigerian universities in the Integrated Personnel and Payroll Information System (IPPIS). This was disclosed in a statement by the Director Information, Press and Public Relations, OAGF, Henshaw Ogubike on Monday. The...
MTN, Airtel, as well as money deposit banks in Nigeria have been appointed by the Federal Inland Revenue Service (FIRS) to withhold Value Added Tax (VAT) charged on all taxable supplies made to them, and remit to the Service. This was contained in a Public Notice the FIRS issued on...
The Chartered Institute of Bankers of Nigeria (CIBN) has honoured the Nigeria Deposit Insurance Corporation (NDIC)’s Executive Director, Operations, Mr Mustapha M. Ibrahim and eleven (11) other NDIC Senior Executives with Honorary Awards. Director, Communication & Public Affairs, NDIC, Bashir A. Nuhu disclosed this in a statement on Thursday, in...
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Muhammad Nami has called on governments in Africa to rethink governance, engender public confidence and trust by providing value for taxpayers’ money in line with their obligations under the social contract they have with citizens. Nami made the call in...
President Muhammadu Buhari has clarified that the decision of the Central Bank of Nigeria (CBN), to design and replace high value Naira notes had his support, assuring that the nation would gain immensely from the action. Buhari made the clarification in a statement issued by his Special Assistant on Media...
The Central Bank of Nigeria (CBN), has insisted that the move to redesign three series of the Naira, followed the law and due process, noting that the exercise was twelve (12) years due. CBN's position was in response to the claims by the Minister of Finance, Budget and National Planning,...
The Federation Account Allocation Committee (FAAC) has shared a total sum of N760.235 billion September 2022 Federation Account Revenue to the Federal Government, States and Local Government Councils. This was contained in a communiqué issued at the end of the Federation Account Allocation Committee (FAAC) meeting for October 2022. The N760.235...
The Federal Inland Revenue Service (FIRS) has stated that it has commenced the deduction of taxes at transaction points from Online Gaming Transactions using the Sentinal National Payment Gateway and Electronic Solution. In a Public Notice signed by its Executive Chairman, Muhammad Nami, the Service while directing full compliance by...
Worried by the increasing menace of banknotes counterfeiting in the country, President Muhammadu Buhari has granted approval to the Central Bank of Nigeria (CBN) to redesign, produce, and circulate new series of banknotes at N100, N200, N500, and N1,000 levels. CBN Governor, Mr Godwin Emefiele who announced this at a...