The Federal Government is saving a total of ₦24.7 billion per month as a result of the implementation of the Treasury Single Account and the elimination of ghost workers from the civil service, President Muhammadu Buhari, has said. Buhari, who said this at the opening of the e-Nigeria Conference in Abuja on Monday, also asked […]
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The Nigerian National Petroleum Corporation, NNPC, yesterday, described as misplaced and misleading, allegations by the Nigeria Police that it had recovered $470 million and ₦8 billion of the corporation’s Brass Liquefied Natural Gas, LNG, fund stashed in some commercial banks. The NNPC, in a statement by its Group General Manager, Group Public Affairs Division, Mr. […]
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In an address to Pressmen, about 5 years ago, in Abuja, Lamido Sanusi, who was then CBN Governor (2009-2014), unexpectedly, decried the prevailing monetary framework which facilitated banks’ access to make free money from their portfolio of government funds. Although this writer has, since 2004 consistently condemned this obvious rip-off, in several articles, in retrospect, […]
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There are indications that a financial re-engineering has taken place at the Nigerian Maritime Administration and Safety Agency (NIMASA), resulting in a revenue surge. An official communication from the Agency yesterday says that its remittances to the federation account has hit N20 billion, representing a massive 567 percent jump in 2017 from N3 billion previously. […]
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Since the introduction of the Treasury Single Account in September 2015, the Federal Government has saved a total of ₦128 billion from charges imposed by banks for managing funds belonging to the Ministries, Departments and Agencies of the government. The amount, according to investigations, represents the various charges and account maintenance fees, which where hitherto […]
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The Vice President, Yemi Osinbajo, on Wednesday, disclosed that Nigeria has widened its tax net from 14 million in May 2017 to 19 million this year. Osinbajo, who was the special guest of honour at the 2018 edition of the Chartered Institute of Taxation of Nigeria (CITN) conference, stated that as at December 2017, only […]
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Over ₦1.6 billion illegal bank charges has been recovered from one of the many branches of one money deposit bank, Minister of Finance, Kemi Adeosun told the House of Representatives on Thursday. Adeosun, who said the recovery was made possible by the Treasury Single Account (TSA), added that other branches of the unamed bank would […]
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Since the introduction of the Treasury Single Account in September 2015, a total inflow of ₦8.9 trillion from Ministries, Departments and Agencies of government has been recorded by the Federal Government. The Accountant-General of the Federation, Alhaji Ahmed Idris, gave the figure in Abuja on Friday at a workshop for finance journalists held at the […]
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The strict implementation of the Treasury Single Account (TSA) by the President Muhammadu Buhari-led All Progressives Congress (APC) has increased the earnings of the Federal Government to a whopping sum of ₦24.7 billion monthly. A Professor of Economics from Nassarawa State University, Uche Uwaleke, who made the disclosure while making an in-depth assessment of the […]
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Keystone Bank Limited has denied having in its custody any illegally hidden money belonging to the Federal Government of Nigeria or any of its agencies. Senator Dino Melaye representing Kogi West Senatorial district had accused the bank of colluding with the Nigeria National Petroleum Corporation (NNPC) to conceal about $137 million and thereafter illegally withdrew […]
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The Federal Government says it has generated over ₦3 trillion since the commencement of Treasury Single Account (TSA) policy. The Minister of Finance, Mrs. Kemi Adeosun, made the disclosure in a document to highlight the programmes of the ministry in the past 24 months. According to her, the government put its feet down to ensure […]
Read More The Office of the Accountant-General of the Federation (OAGF) has so far received ₦3.740 billion as budgetary disbursements this year. Accountant-General of the Federation (AGF) Mr. Idris Ahmed made this disclosure during the 2018 budget defence of the Federal Ministry of Finance before the Senate yesterday in Abuja. Ahmed said so far, in the budgetary […]
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