According to the Central Bank of Nigeria (CBN), there has been a significant increase in remittance inflows, reaching $553 million in July 2024, a 130 per cent increase from the corresponding period in 2023.  

In Five Months, NNPC Records 63% FAAC Remittance Shortfall       The statutory payments made by the Nigerian National Petroleum Corporation (NNPC) to the Federation Account, a joint pool operated by the local, state and federal governments, declined by over 63 per cent in the first five...

Remittance From NLNG Surpasses FG’s Target By N63.6bn           The share of dividend remitted to the Federal Government by the Nigeria Liquefied Natural Gas company between January and December 2020 exceeded the projected target in the 2020 revised budget of the government by N63.62bn. Nigeria LNG Limited...

Fed Govt Defaults In Pension Remittance For Six Years   Workers have continued to suffer decline in their retirement benefits over the Federal Government’s delay in implementing the mandatory 18 per cent monthly emolument remittance into employees’ pension accounts. The Pension Reform Act 2014 mandates all employers...

NERC Releases Minimum Remittance Payable By Discos   The Nigerian Electricity Regulatory Commission has released a new minimum market remittance threshold payable by the 11 power distribution companies operating across the country. Power distributors are the revenue collection agents of the sector, as they collect electricity tariffs...

Discos Make 100% Remittance As TCN Enforces Rules   The enforcement of electricity market rules by the Market Operations arm of the Transmission Company of Nigeria has compelled power distributors to remit 100 per cent of the invoice issued them by the MO. This came as workers...