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
Buhari Presents 2020 Budget Proposal  to National Assembly Today
The Presidency says the 2020 Appropriation Bill is to be presented to a joint session of the National Assembly (NASS) today,  by President Muhammadu Buhari , Mr Femi Adesina, the Special Adviser to the President on Media and Publicity, confirmed this development at the end of an extraordinary meeting... Read more
FAAC: FG, States, LGs Share N769.52bn for July
A total sum of   N769.52 billion, was shared   as federal allocation for the month of July, by the Federal Government, States and Local Governments (LGs).   Mr Ahmed Idris, the Accountant-General of the Federation (AGF), said this on Thursday in Abuja, while addressing newsmen at the end of the... Read more
CBN Gov Says More Items Are to Be Blocked from FOREX
Central Bank of Nigeria (CBN) Governor, Godwin Emefiele has said that importers of more items are to be denied access to foreign exchange (forex) from government institutions and banking industry. According to him, the apex bank will not go back on President Muhammadu Buhari’s directive to block food importers... Read more
CBN Threatens to Close  Bank Accounts of Firms Importing Forex Restricted Goods
The Central Bank of Nigeria (CBN), has threatened  to  close the bank accounts  of any banks found smuggling into the country, goods for which access to foreign exchange, has been restricted.   The apex bank curbed access to dollars in 2015 for firms importing 42 items, ranging from rice... Read more
CBN Reduces Interest Rate to 13.5 percent
 For the first time in over two years, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN)  has reduced  interest rate downwards to 13.5%   Central Bank Governor Godwin Emefiele disclosed to journalists at the end  of the second 2019  MOC meeting   that “the MPC voted... Read more
No Plan of 50 Per cent Hike In VAT- FIRS
The Federal Inland Revenue Service (FIRS) has said it is not  planning any  increment of Value Added Tax (VAT) by 50 per cent to meet up payment of the newly proposed minimum wage.   Its  Head, Communication and Servicom Department, Mr Wahab Gbadamosi, made this known in a statement... Read more
MMS WoFHoF Faults FG’s Suspension of ‘Trader Moni’ Scheme
.Empowers 250,000 Women, Campaigns for 40% Gender inclusiveness     MMS Woman of Fortune Hall of Fame (WoFHoF) Initiative has condemned Federal Government’s suspension of ‘Trader Moni’ scheme which has seen traders, mostly women fleeced of over N6billion as two million applicants paid N3,000 at the commercial banks without... Read more
FAAC Shares N610.368 bn Revenue Among FG, States, LGs
 A total of N610.368 billion federal revenue generated in the month of January 2019 has been shared in to the three tiers of government by the Federation Accounts Allocation Committee (FAAC).   The Accountant General of the Federation (AGF), Ahmed Idris who made the revelation  while briefing the press... Read more
Money Laundering: CBN Out With Fresh Guidelines for Banks
The Central Bank of Nigeria (CBN) has set fresh rules for banks planning to establish correspondent banking relationship with foreign lenders.   The apex bank, in the Anti-Money Laundering/ Combating the Financing of Terrorism (AML/CFT) Policy and Procedure Manual released yesterday insisted that it will guard against establishing correspondent... Read more