Currency In Circulation Drops To N3.24trn   Currency in circulation fell by N107.08bn from N3.35tn in April to N3.24tn in July, latest figures on currency from the Central Bank of Nigeria has revealed. According to the CBN, the CIC which stood at N3.33tn in May fell to...

Fed Govt Grows VAT By 20%, Rakes In N1.2trn   The Federal Government through the Federal Inland Revenue Service has grown its proceeds of Value of Added Tax by 20 per cent to N1.2tn in the first six months of 2022. According to different reports by the...

Reps Grills OAGF Over Failure To Provide Evidence Of 25% Of N6bn Generated By SEC   The House of Representatives Committee on Finance, yesterday, questioned the office of Accountant General of the Federation (oAGF) for failing to provide evidence of 25 per cent of N6 billion...

Forex Crisis, Insecurity Slash Capital Inflows By 23%   Insecurity and lingering foreign exchange crisis have forced the capital importation into Nigeria to decline further by 23 per cent. Capital Importation measures the aggregate of foreign investments into an economic entity within a given period. It is...

Fed Govt Generates N127.03bn Tax From Calls, SMS   The Federal Government made N127.03bn from Value Added Tax on calls, SMS, data, and other information and communication services in the first six month of the year. This is 10.69 per cent of the total N1.19tn that was...

FG Suspends Telecoms Tariff Hike, Excise Duty President Muhammadu Buhari has approved the suspension of the proposed excise duty on telecommunications indefinitely and constituted a committee to look into the matter. The suspended scheme could have seen an added tax to the tariff for telecom network subscribers...