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Chuks Okocha in Abuja Governors of the 36 states of the federation have resolved to stop contracting collection of taxes to consultants, saying the huge commission being paid out to contractors would help swell the states’ internally generated revenue (IGR). Chairman of Nigeria Governors’ Forum (NGF), Dr. Kayode Fayemi, who is also the governor of Ekiti State, said yesterday the planned review of the policy on revenue collection by states was part of reforms being considered to boost the financial outlook at the sub-national level. Many states, notably Lagos, have contracted their r...

COVID- 19: Reposition your Fiscal Revenue Management Systems, FG tells Governors On ***Say this year has presented us with a perfect storm of difficulties to deal with By Henry Umoru  FOLLOWING the outbreak of the Coronavirus COVID-19 pandemic and its impact on the economic and fiscal revenue outlook for 2021, the Federal Government has urged the governors of the thirty-six states of the Federation to strategise and reposition their fiscal revenue management systems for this era called the ‘new normal’.  According to the Federal Government, with the impact of COVID-19, the revenue outl...

COVID- 19: Reposition your fiscal revenue management systems, FG tells Governors On …Say this year has presented us with a perfect storm of difficulties to deal with By Henry Umoru Following the outbreak of the Coronavirus COVID-19 pandemic and its impact on the economic and fiscal revenue outlook for 2021, the Federal Government has urged the governors of the thirty-six states of the Federation to strategize and reposition their fiscal revenue management systems for this era called the ‘new normal’. According to the Federal Government, with  the impact of COVID-19, the revenue outlo...

Punch Newspapers Sections Sunday Aborisade, Abuja Shareholders and the Security and Exchange Commission kicked against the plan by the Federal Government to take over the management of unclaimed dividends and deposits in dormant bank accounts in the country. They expressed their objection at a one-day public hearing organised by the Senate committees on Finance, National Planning, Banking, Customs, Trade and Investment on the proposed amendments to the Finance Bill 2020. The bill is seeking amendments into 12 Acts of Parliament relating to capital gains tax, personal income tax, Customs and E...

Reps want interest-free banking in Nigeria On By Tordue Salem – Abuja The House of Representatives on Thursday unveiled plans to adopt non-interest banking services in Nigeria as part of efforts to stimulate the nation’s economy. The resolution followed a motion sponsored by Rep. Kabir Tukura. The lawmaker, in the course of reading his motion, stressed the need for Federal Ministries of Finance, Agriculture and Commerce to provide a deliberate policy that will encourage Bank of Industry (BOI), Bank of Agriculture (BOA), Nigeria Incentive-Based Risk Sharing System for Agricultural Lending...