Tag Archives Finance

Five Banks Incurred N1.4bn Fine for Forex Infractions, Others
Five Banks Incurred N1.4bn Fine for Fore...

Five Banks Incurred N1.4bn Fine for Forex Infractions, Others

Five top banks in Nigeria paid a total of N1.4bn as penalties to financial regulatory bodies such as the Central Bank of Nigeria, Security Exchange Council and Financial Reporting Council of Nigeria, in the first half of the year. The banks are the United Bank of Africa, Fidelity Bank, Access Bank,... read more »

Chinese Banks Set To Establish Operations In Nigeria
Chinese Banks Set To Establish Operation...

Chinese Banks Set To Establish Operations In Nigeria

China is making plans towards establishing Chinese-owned banks in Nigeria, according to the Chinese Ambassador to Nigeria, Cui Jianchin. Mr Jianchin this known in Abuja while addressing journalists during the commemoration of the 2021 Chinese Moon Festival and China-Nigeria Cultural week on... read more »

Naira Dips To 575/$ two days after Aboki FX update suspension
Naira Dips To 575/$ two Days After Aboki...

Naira Dips To 575/$ two Days After Aboki FX Update Suspension

The dollar exchanged for between N572 and N575 in different parts of the country on Monday barely two days after an online platform, Aboki FX, stopped providing updates on the exchange rate. A visit by Punch to the ever-busy Wuse Zone 4 which is the hub of bureau de change operators in Abuja,... read more »

https://punchng.com/fg-recorded-n150-36bn-fiscal-deficit-in-april-cbn/
FG recorded N150.36bn fiscal deficit in ...

FG recorded N150.36bn fiscal deficit in April- CBN

The Federal Government recorded a fiscal deficit of N150.36bn in April, after recording an aggregate expenditure of N559.67bn and retained revenue of N409.31bn. Figures obtained from the Central Bank of Nigeria’s April report on ‘Fiscal operations of the Federal Government’ revealed on... read more »

Southern Govs Take Stand On State Collection of VAT, Open Grazing
Southern Govs Take Stand On State Collec...

Southern Govs Take Stand On State Collection of VAT, Open Grazing

The Southern Governors Forum has backed the collection of the Value Added Tax by states. The governors made their positions known on Thursday, during their meeting in Enugu on Thursday. The disagreement over VAT started last month when the Federal High Court sitting in Port Harcourt, in a judgment... read more »

VAT: FIRS Risk Losing N92bn Revenue To States

VAT: FIRS Risk Losing N92bn Revenue To States

The Federal Inland Revenue Service may lose about N92bn which it is expected to earn as cost of collection if the Appeal Court upholds the judgement of the Federal High Court asking states... read more »

 FG’s GDP Growth Insignificant With Rising Poverty – Peter Obi

FG’s GDP Growth Insignificant With Rising Poverty – Peter Obi

The former governor of Anambra State and vice-presidential candidate of the People’s Democratic Party, PDP, in the 2019 general elections, Peter Obi, has undermined the significance of... read more »

FG suffers N1.76tn revenue shortfall in six months

FG suffers N1.76tn revenue shortfall in six months

Official record has shown that the Federal Government of Nigeria suffered a revenue shortfall of N1.76tn in the first half of this year. According to a revenue performance report, which was... read more »

Nigeria Sole Country Not Taxing Coca-Cola, NCS Says As it Seeks Excise Duty on Soft Drinks

Nigeria Sole Country Not Taxing Coca-Cola, NCS Says As it Seeks Excise Duty on Soft Drinks

The Nigeria Customs Service, NCS, has urged the Federal Government to re-introduce excise duty on all drinks produced in the country. The comptroller-general of NCS, Hameed Ali, stated this... read more »

No Petrol Price Hike Until FG, Labour Conclude Negotiation – PPPRA

No Petrol Price Hike Until FG, Labour Conclude Negotiation – PPPR...

The Petroleum Products Pricing Regulatory Agency, PPPRA, has said restated that the Petroleum Industry Act had marked the full deregulation of the downstream oil sector. It added that the... read more »