Barbara Bako, Abuja. The Federal Government has inaugurated an inter-ministerial committee to develop the 2026 Value Added Tax (VAT) Modification Order, in a move aimed at facilitating the implementation of Nigeria’s new tax laws and providing greater certainty for
Barbara Bako, Abuja. The Accountant-General of the Federation, Dr Shamseldeen Babatunde Ogunjimi, has been elected Chairman of the Association of African Accountants-General at the body’s Annual General Meeting held in the Kingdom of Eswatini. Ogunjimi won the election
Barbara Bako, Abuja. The Federal Government has said the N1.3 billion appropriated to the Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council (PEAC/PFIPC) in the 2026 budget was never released or spent. Director-General of the Budget Office of
Barbara Bako, Abuja. The Centre for Social Justice (CSJ) has questioned the Federal Government’s decision to grant customs duty waivers valued at N34 trillion in 2025, arguing that the amount exceeded the Federal Government’s total retained revenue for
Barbara Bako, Abuja. The Federation Account Allocation Committee (FAAC) has shared a total of N2.550 trillion as June 2026 revenue among the Federal Government, state governments and the 774 local government councils. The allocation was approved at the
The Central Bank of Nigeria (CBN) has reiterated that both the commemorative ₦100 banknote and the standard ₦100 banknote remain legal tender in Nigeria and must be accepted for all transactions nationwide. Hakama Sidi Ali, Ag. Director, Corporate Communications at
Barbara Bako, Abuja. The Federal Government has cleared N39.63 billion in outstanding pension liabilities owed to 24,814 retirees under the Defined Benefit Scheme (DBS), bringing to an end years of unpaid arrears for pensioners from several defunct public
Following the revocation of the operating licenses of 46 Microfinance Banks (MFBs) by the Central Bank of Nigeria (CBN), on July 1, 2026, the Nigeria Deposit Insurance Corporation (NDIC), has been appointed as the official Liquidator, pursuant to
The Central Bank of Nigeria (CBN) has revoked the operating licenses of forty-six (46) Microfinance Banks with effect from July 1, 2026, in accordance with its powers under Sections 12 and 13 of the Banks and Other Financial Institutions
Barbara Bako, Abuja. The ECOWAS Bank for Investment and Development (EBID) has approved a $268 million financing package for three major development projects in Taraba State aimed at boosting industrialisation, agriculture and renewable energy. The loan agreements were signed on
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