Report Reveals 7000 firms, MDAs Owe FG N5.2trn   Eleven ministries, departments and agencies of the government as well as over 7000 corporate and private entities currently owe the Federal Government the sum of N5.2tn, a new report by the Federal Ministry of Finance has shown. Details...

How Desirable is 5% Excise Duty on Telecom Services? By Ibrahim Dan Halilu The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed has thrown Nigeria into another controversy amidst plans to launch the 5G network, which is expected to transform every sector and sphere...

‘Over $6bn Spent On Wheat Import’     Over $6billion wheat were imported in the last five years, it was learnt. The huge amount of money, findings revealed, was used to import the commodity between 2016 and August 2020. Sources at the Federal Ministry of Finance (FMoF) said,...

Multiple Taxation: Insurers Receive N1Billion Refund The outgoing Nigerian Insurers Association (NIA) chairman, Mr Eddie Efekoha, has said his tenure successfully addressed some critical industry challenges, especially multiple taxation from tax authorities, with a refund of N1billion Efekoha, however, attributed successes achieved during tenure to support...

Nigeria Hosts 3rd Africa Islamic Finance Forum 25   The 3rd edition of the Africa Islamic Finance Forum (AIFF), which is jointly organised by the Federal Ministry of Finance and the Islamic Corporation for the Development of the Private Sector (ICD) a member of the Islamic...

FG Targets More Tax Revenue From VAIDS The Federal Government expects to net considerable tax revenue this year through the implementation of the Voluntary Assets and Income Declaration Scheme. The scheme is an initiative of the Federal Ministry of Finance that provides a time-limited window for...