ECOWAS Advices Nigeria To Raise VAT On Hotels, Others       The Economic Community of West Africa States has canvassed an increase in the Value Added Tax on luxury items including perfume, wine and other alcoholic beverages, fuelling speculations about inflation on the items. According to ECOWAS, Nigeria...

FG Okays N14.8bn Workers’ Insurance Cover, COVID-19 Oxygen Plants         The Federal Executive Council presided over by President Muhammadu Buhari has approved the disbursement of N9.2bn as premium for insurance companies who will manage group life insurance coverage for federal civil servants. The Minister of Information and...

RMAFC says More than N1.5trn hit Federation Account in Q1 2021. The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has disclosed that the revenue generating agencies in the country made a total remittance of more than 1.5 trillion (N1, 538,021,801,518.37) naira into the Federation account...

FEC Okays N10.2bn Projects For Water resources, Aviation, Presidency         The Federal Executive Council (FEC) has approved N10.168 billion for the execution of projects under the ministries of Water Resources, Aviation as well as two agencies under the Presidency. The virtual FEC, which was presided over by...

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...

Nigeria Earned N496bn From VAT In Three Months — NBS       The federal government’s Value Added Tax (VAT) collections rose to N496.39 billion in the first quarter of 2021 from the N454.69bn realised in the fourth quarter of 2020, according to the National Bureau of Statistics...