FG Loses 50% Vehicle Import Duty, Levies To Smugglers – Report         The federal government is losing billions of naira in duties payable on imported vehicles as 50 per cent of such vehicles in Nigeria reportedly come in illegally through closed borders, it has been revealed. An...

N796bn Investors’ Losses In May Extends Into June       Insecurity in the country and other macroeconomic challenges, coupled with uncertainty in the global economy, may continue to take a toll on the Nigerian Exchange Limited (NGX), as investors, having lost N796 billion in May, might experience...

Lagos Pays N30bn To Retirees In Two Years       Lagos State has paid over N30 billion to retirees in two years, the Director-General, Lagos Pension Commission (LASPEC), Mr. Babalola Obilana, has said. The payment, according to him, was made in the two years of the Babajide Sanwo-Olu’s...

FG Releases N5bn Aviation Bailout, Bars 22-year Aircraft From Nigeria       The Permanent Secretary, Federal Ministry of Aviation, Hassan Musa on Monday told the House of Representatives that the Federal Government had released N5bn out of the N26bn approved as COVID-19 intervention fund for the aviation...

CITN Decries Corruption In Tax Administration In Nigeria       The Charted Institute of Taxation of Nigeria, CITN, has attributed the low tax culture among taxable adults and businesses in Nigeria to lack of accountability and transparency in the expenditure of tax money by tiers of government. Making...

NERC Okays N756bn Investments For 11 Power Firms       The Nigerian Electricity Regulatory Commission (NERC) has approved N756.74 billion Capital Expenditure (CAPEX) for the 11 Distribution Companies (DisCos) for the next five years in their Performance Improvement Plan (PIP). The projected investment directives were requested for by...