FG Denies Stopping Revenue Agencies from Deducting Cost of Collection at Source
The Federal Ministry of Finance has debunked media reports claiming that the Federal Government has stopped revenue-generating agencies from deducting their cost of collection at source.
In a statement issued on Tuesday by the...
Passengers Arrested with over $6.1m Cash at Lagos Airport
Security officials at the local wing of the Murtala Muhammed Airport in Lagos have arrested some passengers alleged to be travelling on an Aero Contractors flight with cash exceeding $6.1 million in their possession.
Sources familiar with...
Bilateral Companies Owe Nigeria $8.5m for Power Supply - NERC
The Nigerian Electricity Regulatory Commission (NERC) has reported that some international bilateral companies owe Nigeria’s electricity generation companies (GenCos) about $8.5 million in unpaid power supply.
In its latest quarterly report, the Commission said the companies...
NDPHC Commends Tinubu Over N4trn Bond Approval for GenCos' Debt Settlement
The Managing Director of the Niger Delta Power Holding Company (NDPHC) Jennifer Adighije, has commended President Bola Tinubu for his administration’s commitment to revamping Nigeria’s power sector, following his recent approval of a N4tn...
World Bank Urges Govt to Implement Reforms and Fiscal Discipline
The World Bank has urged the Federal Government to sustain the momentum of its economic reforms by tightening fiscal and monetary policies, enhancing transparency in public finance, and consolidating gains from recent measures such as...
NEITI Reveals Oil Firms, Agencies Owe FG N1.5tn in Unremitted Revenues
The Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed that oil companies and some government agencies owe the federation about N1.5tn in outstanding oil and gas remittances.
NEITI’s Executive Secretary, Dr Orji Ogbonnaya Orji, stated...
