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Tag Archives: Mrs. Kemi Adeosun

Economic recovery underway as FG dolls out N350bn to fast track recession exit

Kemi Adeosun

The federal government on Monday announced readiness to release N350 billion, being the first tranche for implementation of the 2017 budget. Giving the analysis at the public presentation of 2017 Appropriation Act in Abuja, the Minister of Finance, Mrs Kemi Adeosun said the Federal Government had enough cash available to immediately commence the execution of key projects and initiatives scheduled ...

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FG creates Community Tax Liaison Officers to raise tax awareness among citizens

FIRS

…To recruit 7,500 graduates as tax advocates To drive tax education and seamless compliance amongst Nigerians, the Federal Government has concluded new plans to recruit 7,500 graduates as Community Tax Liaison Officers (CTLO) to raise tax awareness among citizens. Details of the recruitment sighted by Business Hilights showed that graduates of accounting, economics, mathematics and other relevant courses would be ...

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Adeosun frustrating Osinbajo’s order to offset subsidy arrears to marketers, banks

oil-ship

A showdown coming from banks and independent marketers may be underway if the Minister of Finance, Mrs. Kemi Adeosun continues to delay the payment of over N800bn that accrued to petroleum marketers between 2014 and 2017. This is coming on the heels of observed delay by the minister considering the time the Acting president had issued the payment directive. Already, ...

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Dropping compliance collapses Value Added Tax revenue to N204.77bn in Q1

VAT logo

Latest report from the National Bureau of Statistics (NBS) released on Tuesday has shown a trending drop in the total revenue generated by the country from Value Added Tax (VAT). The crash showed that VAT dropped from N207.35bn in the fourth quarter of 2016 to N204.77bn in the first quarter of this year. However, within the period, manufacturing sector generated ...

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Creation of continental free trade area may kill surviving Nigerian industries—Expert

Kemi Adeosun

Contrary to the permutations of the Federal Ministry of Finance and the Nigerian Customs Service (NCS) that the enthronement of Continental Free Trade Area (CFTA) will grow manufacturing in Nigeria and the country will gain more from intra-African trade, leading development economist, Dr. Ken Igboanugo has voided the claims. In his submission against the belief within the government quarters, he ...

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If BoI is shopping for N1tn to assist SMEs, why is DBN established? —BH Analysis

BoI Olagunju

Barely one month after the take off of Development Bank of Nigeria (DBN), indications have emerged that Bank of Industry (BoI) that had hitherto been dull in driving the growth of Small and Medium Enterprises (SMEs) has suddenly woken up. This is evident based on the level of support it has been giving to the sub sector between recently and ...

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CAC cert now compulsory for accessing all business deals with MDAs—Minister

cac logo

As part of consolidation new drive for ease of doing business, the Federal Government has banned ministries, departments and agencies (MDAs) from transacting business with companies and other corporate bodies that are not duly registered by the Corporate Affairs Commission (CAC). A statement issued by the Ministry of Finance and signed by the Director of Information, Mr. Salisu Dambatta, made ...

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CBN sets money laundering radar on MFBs, OFIs, may revoke licences if…

Kemi Adeosun

Relying on recent revelation by the Minister of Finance, Mrs. Kemi Adeosun that looters of the treasury may have moved their illicit trade to Micro Finance Banks (MFBs) and other financial institutions (OFIs), due to the water tight blockage placed by the introduction of BVN, the Central Bank of Nigeria (CBN) has began surveillance on the sub sector on issues ...

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Adeosun, IMF, CBN hold different views on Nigeria’s economic outlook, recovery time

imf visit

Whereas the Minister of Finance, Mrs. Kemi Adeosun has claimed that Nigeria economy will grow this year by 2.5 per cent, the International Monetary Fund (IMF) and the Central Bank of Nigeria (CBN) are heading opposite directions on the projections of the Bretton Woods institution for the country’s economic outlook for 2007. Just as the Regional Economic Outlook for Sub-Saharan ...

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2016 Budget recorded paltry 55% implementation, N1.1tr shortfall in revenue

Udoma, Buhari, Adeosun

Contrary to earlier claims by the Minister of Finance, Mrs. Kemi Adeosun that the running 2016 national budget is on track to record over 70 per cent implementation, some government officials who were at the Senate Friday revealed that the Federal Government did not only record a shortfall of N1.1trillion in the projected Internally General Revenue (IGR) for 2016, the ...

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