’Nigeria loses $18b Annually to Tax Evasion, others ‘’
Nigeria loses about $18b annually to tax evasion, money laundering and other related offenses especially outside the country, according to the Civil Society Legislative Advocacy Center( CISLAC), CISLAC Executive Director, Auwal Ibrahim Musa Rafsanjani stated this at a media workshop for investigative journalists on “Effective Reporting of the Asset... Read more
Nigeria’s External Reserves Lose $178m in March- CBN
Nigeria’s foreign reserves lost $178m in March , according to statistics from the Central Bank of Nigeria . The reserves which stood at $34.99bn as of the end of March 1, dropped to $34.82bn as of the end of March 31.It dropped by $1.1bn in February after falling from... Read more
Court Throws  Out  AMCON’s Ex-parte Order
 Ovie Edomi Ahmed Kuru, AMCON CEO   An Abuja Federal High Court has vacated an ex-parte order against Peace Global Satellite Communication network and its Managing Director, Oreye Udo Livingstone which was earlier obtained in March this year. The earlier interim ex-parte order which granted Benson Ibezim, the 3rd... Read more
CBN Predicts Economic Recession ,Reduces Monetary Policy Rate
The Monetary Policy Rate (MPR) has been reduced by the Central Bank of Nigeria (CBN) , from 12.5 per cent to 11.5 per cent as part of measures  to sustain its  economic recovery efforts and to arrest rising inflation. This is ,even as the Apex Bank has  projected that... Read more
FG Gets N272.905 bn  from  ₦682.060bn  FAAC  Revenue
The ₦682.060 billion August 2020 federation account revenue has been shared  by the  Federation Accounts Allocation Committee (FAAC)  to the Federal, States and Local Government Councils and agencies even as  N272.905 billion accrued to the Federal Government from the amount. A communiqué by the Federation Account Allocation Committee (FAAC)... Read more
FG Set to Again Revise Oil Benchmark Price to $20  over COVID-19
… as It Says Economy Will Contract by 3.4 % Due  to  the adverse implications of the COVID-19  pandemic on the economy, Nigeria’s Budget plan is to be  cut by the Federal Government  , the second time running ,to assume a lower petroleum price of $20 per barrel ,even... Read more
COVID- 19:  CBN Stops Banks from Sacking Workers
Sequel to the decision of some banks to sack their workers due to the loss they are sustaining as a result of  the outbreak of  the COVID-19 Pandemic , the  Central Bank of Nigeria (CBN) has however  stopped them  from implementing the plan. The apex bank said in a... Read more
CBN Scraps, Reduces Banks Charges
The Central Bank of Nigeria(CBN) has scrapped the controversial Card Maintenance Fee(CAMF) as well as slashed the Automated Teller Machine(ATM) charge as part of the the Apex Bank’s new  guidelines which takes effect from January 1, 2020. Banks that fail to comply with the guidelines are to be sanctioned,... Read more
Reason IMF Is Backing Nigeria on  Border Closure
Ahmed , Finance Minister   The International Monetary Fund has expressed its support for Nigeria on the closure of its land borders because it understands that the action is not punitive. The Minister of Finance, Mrs. Zainab Ahmed, who said this in Washington on Sunday explained that the measure... Read more
Full Text of President Buhari’s 2020 Budget Speech
PROTOCOLS   I will start by asking you to pardon my voice. As you can hear, I have a cold as a result of working hard to meet your deadline!   I am delighted to present the 2020 Federal Budget Proposals to this Joint Session of the National Assembly,... Read more