FG To Settle N187.32bn Contractors’ Debt This Year   The administration of President Bola Tinubu will likely spend about N187.32bn to settle debts owed to local contractors this year. The debts were listed as promissory notes in a document titled, ‘Schedule of promissory notes issued by category...

Appraising Tinubu's Move to Reform Nigeria's Tax System By Zekeri Idakwo During the week, President Bola Ahmed Tinubu inaugurated a 40-man Committee on Fiscal and Revenue Reforms. According to the Chairman of the Committee, Taiwo Oyedele, "Nigeria loses N20 trillion yearly to tax gap". This is...

I&E Window: Forex Inflow Rises 23% to $1.41bn in One Month - CBN Foreign exchange (Forex) inflows through the investors and exporters (I&E) window rose month-on-month by 23 percent to $1.41 billion in June from $1.14 billion in May 2023. The Central Bank of Nigeria, CBN,...

FG to Stop Customs, 62 other MDAs from Collecting Revenues The Presidential Committee on Tax Policy and Fiscal Reforms says the Nigeria Customs Service and 62 other Ministries, Departments and Agencies (MDAs) of the Federal Government will stop direct collection of revenue. This was disclosed by...

Nigeria’s Cinemas Generate N482m Revenue In July - CEAN Chairman   The Cinema Exhibitors Association of Nigeria (CEAN) says it generated N482m as revenue across all cinemas in Nigeria in July. The CEAN National Chairman, Mr Opeyemi Ajayi , made this known in a recent interview in...

IMF's 3.2% Economic Growth Projection Not Enough For Nigeria - CBN   The Central Bank of Nigeria (CBN) has stated that the 3.2 per cent growth projection by the International Monetary Fund (IMF) is not enough considering the poverty rate which is currently standing at 31...