FG Targets More Tax Revenue as Global Rates Rise   The Federal Government has said it will focus more on domestic resources mobilisation with a focus on a more efficient collection of taxes, fees and payments that are due to the government. The Minister of Finance and...

CBN Slashes Cash Mop by 82% to N150bn   In a bid to stimulate economic growth worsened by unprecedented rise in prices of goods and services, the Central Bank of Nigeria (CBN) reduced its cash mop up operation by 82 per cent to N150 billion in...

External Reserves Drop by $841m in Three Months   Nigeria’s external reserves fell by $841.75m between July and September, figures obtained from the Central Bank of Nigeria (CBN) revealed. The CBN revealed in its report on the movement of external reserves that the reserves, which stood at...

Pension in N2.4trn Deficit Before Reforms, Says PenCom Boss   The Director-General of the National Pension Commission (PenCom) Mrs Aisha Dahir-Umar, has stated that the pension reforms in the country started when Nigeria was struggling with a N2.4tn deficit. This was disclosed in a new book titled...

Nigeria Borrowed $1.21bn as 28 States Failed to Attract Foreign Investments     Nigeria relied on foreign borrowing ($1.21bn) to boost its capital importation in the first six months of 2023. This is as 28 states failed to attract any foreign investments in the time under review, according...

Only 40m Out of 200m Nigerians Pay Tax – RMAFC   Chairman, Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Mohammed Bello Shehu, has revealed that only 40 million out of over 200 million Nigerians currently pay taxes to the nation’s coffers. Speaking with Economic Confidential, Shehu said that...