Nigeria Supports Regional Common Tariff, Customs Union, Says FG

November 2, 2018 admin

The Federal Government Friday, assured Ministers of member countries of the Economic Community of West African State (ECOWAS), on support for regional common tariff and customs union towards trade liberalisation, industrialisation and integration. This was stated in the welcome remarks by the Minister of Finance, Mrs Zainab Shamsuna Ahmed, at the 4th ECOWAS Finance Ministers’ Meeting in Abuja, with theme, ‘Information Exchange and Cooperation Amongst Customs Administrations as a Concerted Response to Obstacles to the Free Movement of Goods, Security Challenges and the Resurgence of Illicit Trafficking’. She also noted…

FAAC: FG, States, LGAs Share N698.710bn For September 2018

October 25, 2018October 25, 2018 admin

The Federal, states and local governments on Thursday shared a total of N698.710 billion for the month of September 2018 in Abuja. The gross statutory revenue for the month was N569.281 billion, which was lower than the N627.139 billion shared in August by N57.858 billion. The Minister of Finance, Mrs Zainab Shamsuna Ahmed, who presided over the monthly Federation Account Allocation Committee (FAAC) meeting welcomed members and stressed on the need for the three tiers of government to save. A statement by the special adviser to the minister of finance…

Finance Minister: FG Is Focused On Delivering On ERGP 2020

October 23, 2018 admin

The Minister of Finance, Mrs Zainab Shamsuna Ahmed has said the 2019 general elections will not hamper on its Economic Recovery Growth Plan (ERGP) target of 2020, saying the Federal Government is committed and focused on delivering on the set goals. The Minister, stated this on Tuesday, while speaking as a panelist on the sustainable economic opportunities for Nigeria at the ongoing 24th Nigerian Economic Summit in Abuja. She said the federal government is aware of the sense of urgency and the need for consistency for a sustainable growth of…

FG Begins Monthly Payment Of 9,215 NITEL/Mtel Ex-Workers

October 19, 2018 admin

In fulfillment of President Muhammadu Buhari’s commitment to ensure all pensioners get their entitlements, the federal government has conclude plans to begin monthly payments of 9,215 NITEL/Mtel ex-workers captured by the Pension Transitional Arrangement Directorate (PTAD). The Minister of Finance, Mrs Zainab Shamsuna Ahmed, who’s ministry supervises PTAD, said the development was in line with the directives and approval of Mr President and the administration’s determination to improve the lives of the pensioners after waiting for 12 years. The Minister assured that the resources for the monthly payment of the…

FG Extends Verification Exercise Of NAL Ex-workers

October 17, 2018October 17, 2018 admin

The federal government has extended the ongoing verification exercise of Nigeria Airways Limited former workers and assured that the exercise will not end until everybody is captured. The Minister of Finance, Mrs Zainab Shamsuna Ahmed, stated this on Wednesday during her visit for on the spot assessment of the exercise across the three centres. She said additional desk has been made available to address all complaints. The centres are located in Kano, Enugu and Lagos. The Minister, who was represented by the secretary, Presidential Initiative on Continuous Audit (PICA), Dr…

FG Seeks Increase Of Nigeria’s AFREXIM Bank Shares

October 10, 2018 admin

The Minister of Finance, Mrs Zainab Ahmed has said Nigeria is discussing the possibility of increasing its shareholding with AFREXIM Bank. Mrs Ahmed made this known in a statement signed by the special adviser on media and communications, Paul Ella Abechi. The statement, which quoted the minister during a meeting with the President, African Export-Import Bank, Prof Okey Oramah on the sidelines of the IMF/World Bank Annual Meeting 2018 said, Nigeria currently owns 40 per cent shares in the bank. She said, “We have met with a delegation of Afrexim…

FG Begins Payment Of N22.6bn To Nigeria Airways Ex-workers

October 9, 2018 admin

Following the approval of over N22 billion by President Muhammadu Buhari for aviation pensioners, the federal government will on October 15 begin verification and payment of Nigeria Airways Limited ex-workers nationwide. The was contained in a statement signed by the special adviser to the minister of finance, Mrs Zainab Ahmed, on media and communications, Mr Paul Ella Abechi on Tuesday and made available to journalists in Abuja. The payment exercise is expected to last for one week, from Monday, October 15 to Monday, October 22, 2018. He said, the secretary,…

CBN Lifts Retail SMIS With $293m

May 19, 2018 admin

The Central Bank of Nigeria (CBN) on Friday, May 18, 2018 lifted the Retail Secondary Market Intervention Sales (SMIS) of the inter-bank Foreign Exchange Market with the sum of $293m. A statement from the Bank’s Acting Director, Corporate Communications Department, Mr. Isaac Okorafor, confirming the figures, indicated that the sum, as in previous interventions, were in favour of interests in the agricultural, airlines, petroleum products, raw materials and machinery sectors. Mr. Isaac Okorafor reiterated that the objective of the CBN intervention in the foreign exchange market remained to ensure liquidity…

Katsina Govt Sanctions Glo Over Unremitted Tax

May 10, 2018 admin

Katsina State Government on Thursday sealed off the Katsina head office and biggest mast of leading indigenous telecommunications service provider in the country, GLO, for violating the state and local government tax laws to the tune of N400m. The General Manager of Katsina Urban and Regional Planning Board, Usman Nadada, who disclosed this to newsmen in Katsina shortly after the action, lamented that the company had failed to remit tenement rent and withholding tax to the state in the past four years. He further stated that action was sequel to…

CBN Injects $349.34m Into Retail SMIS

May 5, 2018 admin

The Central Bank of Nigeria (CBN), in its last intervention for the week, has injected the total sum of $349.34 million in the Retail Secondary Market Intervention Sales (SMIS) segment of the Forex market. Figures obtained from the CBN on Friday, May 4, 2018, indicated that the interventions were meant to meet obligations in the agricultural, airlines, petroleum products and raw materials and machinery sectors. The Acting Director, Corporate Communications Department, CBN, Isaac Okorafor, who confirmed the releases, reiterated that the Bank continued to intervene in the foreign exchange market…

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