RMAFC, EFCC Uncovers Oil Firms’ $205m Unremitted Funds   The Revenue Mobilisation Allocation and Fiscal Commission(RMAFC) has said that it discovered $205.01m unremitted to the federation account by oil and gas companies through joint efforts with the Economic and Financial Crimes Commission(EFCC). It noted that it had...

Banks’ Consumer Loans Increases By 31% To N2.55trn On Rising Inflation     On the back of rising inflation rate in Nigeria, banks’ consumer loans rose by 31 per cent or N615.82 billion in one month to N2.55trillion in July 2022 from N1.93trillion in June 2022, the...

FG to Commence Informal Sector Taxes as it Frowns at Unfair Global Tax Rules The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has demanded an end to the unfair international tax rules skewed against developing countries. This is just as the federal government...

CBN Targets 95% Financial Inclusion By 2024   The Central Bank of Nigeria (CBN) has unveiled seven key policies and products that will aid the realisation of 95 per cent financial inclusion in Nigeria by 2024. The policies include, the revised National Financial Inclusion Strategy (3.0), the...

Emefiele Says Nigeria’s Inflation May Drop To Below 15% Next Year   The Central Bank of Nigeria is targeting a drop in the country’s inflation rate to less than 15 per cent by end-2023. The governor of the apex bank, Godwin Emefiele, stated this at the 57th...

Report Reveals Nigerians Paid N2trn Indirect Taxes In Nine Months   Amid an economic downturn and rising inflation, the tax burden on Nigerians in the first nine months of 2022 increased by N285.13bn. This is as Nigerians paid N2.01tn in indirect taxes in the period under review,...