BALTIMORE, MD (AFRICAN EXAMINER) – Former IMF boss Rodrigo Rato has been sentenced for four years and six months in prison over financial misconduct. Mr. Rato was found guilty Thursday for misusing funds when he was the boss of two Spanish banks. Spain’s National Court, which deals with corruption and financial crime cases, held that he […]
An address by SENATOR UDOMA UDO UDOMA, Honourable Minister of Budget and National Planning, 12TH MAY 2016 PROTOCOLS It is my pleasure to welcome you all to this presentation on the 2016 Federal Government Budget – the first full year Budget of this administration which was recently signed into law by the President. My profound appreciation […]
Again, the International Monetary Fund (IMF) has reviewed its forecasts for the world economy, with Nigeria considered mostly affected. The agency’s latest World Economic outlook predicts global growth of 3.2 per cent this year and 3.5 per cent in 2017. While launching the report, IMF’s chief Economist, Maurice Obstfeld, described the pace of growth as […]
*Urges states to begin process of robust revenue generation The Minister of Finance, Mrs. Kemi Adeosun has disclosed that the Federal Government of Nigeria, as a sign of its commitment to stimulate the economy, will in the next one quarter pump N350 billion into the system in form of capital spending. Explaining that the Federal […]
BALTIMORE, MD (AFRICAN EXAMINER) – The Debt Management Office (DMO) has helped to facilitate bailout for 23 states of the federation by working out an arrangement under which their domestic debts were restructured for repayment over a much longer period. Director General of DMO, Dr. Abraham Nwankwo, disclosed this on Friday while speaking at a […]
By Ayodele Afolabi, Abuja BALTIMORE, MD (AFRICAN EXAMINER) – A total of 18 states of the federation have so far been able to draw from the bailout fund arranged by the federal government. The Central Bank Governor (CBN), Mr. Godwin Emefiele, disclosed this on Thursday while briefing the National Economic Council (NEC). He said that […]
By Ganiyu Nasirudeen – The Federal Inland Revenue Service (FIRS) has indicated interest to begin a special audit of companies operating in Nigeria. In a statement by FIRS Director of Communications and Servicom, Emmanuel Obeta, the agency clarified that decision to carry out the exercise was reached after a meeting between its Acting Executive Chairman, […]
Ayodele Afolabi, Abuja – The newly appointed Acting Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, has embarked on a landmark collaboration with Audit Firms, Institute of Chartered Accountants, Tax Consultants and other professional Service providers in order to ensure increase in revenue collection. In the meeting held in Abuja recently, Fowler pointed […]
Ayodele Afolabi, Abuja – Senators revealed on Thursday that a whopping sum of N585 billion was lost by the federal government of Nigeria from 2011 to 2014 to indiscriminate waivers granted on importation of rice and other agricultural products. This shocking revelation was made on the floor of the senate when a motion on Indiscriminate […]
Muyiwa Bamidele, Abuja The Federation Accounts Allocation Committee has shared a total of N675.7 billion as statutory revenue allocation for the month of November. The minister of state for finance and Chairman of FAAC, Yerima Ngama said total revenue available for distribution among the three tiers of government, including the value added tax, VAT, collection of […]
IGNATIUS OKPARA, Enugu For failing to pay their various forms of taxes and approved levies, the Imo State government Thursday sealed up bank premises found wanting in Owerri, the Imo State capital, leading to the total paralysing of commercial and social activities in the area. However, the Governor Rochas Okorocha led government’s action compelled […]
