All posts by David Abellegah

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  Ministers of Finance, Trade and Investment, Environment to brief FEC today

  The Minister of Finance, Dr. Ngozi Okonjo-Iweala, the Minister of Trade and Investment, Olusegun Aganga and the Environment Minister, Hajia Hadiza Mailafia are to brief the Federal Executive Council (FEC) meeting today. It was gathered that the...

  • Posted January 30, 2013
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  FG fires back at Ezekwesili on $67b reserves squander claim

  The Federal Government has denied the allegations levelled against it by Former World Bank Vice President for Africa, Oby Ezekwesili that it squandered $67billion reserves, which the Olusegun Obasanjo administration left, saying only $43.13billion was left. Responding...

  • Posted January 28, 2013
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  We generated N5trillion from taxes in 2012 for FG – FIRS

  The Federal Inland Revenue Service (FIRS) over the weekend claimed that it made about N5.007tn from taxes only for the Federal Government in the 2012 fiscal year, adding that the amount was the highest tax ever collected...

  • Posted January 28, 2013
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  RMAFC allocate LGs separate account in new revenue formula irrespective of pressure from State Governors

  The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) have disclosed its determination to go ahead and create separate accounts for the Local governments in the anticipated new revenue prescription, irrespective of pressure from Governors. According to a...

  • Posted January 28, 2013
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  FG to diversify economy, moves to cut $11bn yearly bill on food importation

  The Minister of Agriculture, Dr. Akinwumi Adesina said in its effort to diversify the economy from over reliance on oil, the FG has beaten its set target of raising food production in the country as it has...

  • Posted January 25, 2013
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  FERMA petition FG to release 5% fuel tax to fix roads

  The Federal Road Maintenance Agency,FERMA has petitioned the Federal Government to implement the five per cent fuel charge intended for the maintenance of federal and state roads nationwide. FERMA Chairman stated this yesterday while speaking to reporters...

  • Posted January 25, 2013
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  FG should explain to Nigerians how it squandered $67bn – Ezekwesili

  Former vice president of the World Bank, Dr. Oby Ezekwesili has alleged that the Umaru Yar’Adua and President Goodluck Jonathan administrations squandered the $45bn that was left in the foreign reserves account and the $22bn left in...

  • Posted January 25, 2013
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  Reps investigate N275b Customs contract

  The House of Representatives has inaugurated a committee to probe the N275billion Destination Inspection Scheme (DIS) between the Nigerian Customs Service (NCS) and the Ministry of Finance. Earlier, the house expressed serious concern about the implementation, management,...

  • Posted January 24, 2013
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  CBN introduces KYC Requirements for banks, sets new deposit limit for account holders

  The Central Bank of Nigeria (CBN) has introduced new deposit limits for account holders, which affects all categories of accounts and has also introduced three-tier Know Your Customer (KYC) requirements for banks. The new policy sets N20,...

  • Posted January 24, 2013
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  Customs agents ask for regulatory powers for NPA, promise to create two million jobs

  The President, National Council of Managing Directors of Licensed Customs Agents (NCMDLCA), Mr Lucky Amiwero, yesterday said the federal government should consider giving the Nigerian Ports Authority (NPA) regulatory and operational powers, this according to him will...

  • Posted January 23, 2013
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