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    FG Moves To Recover N450b Unremitted Revenue From 33 Agencies

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    The Federal Government yesterday disclosed that it has uncovered unremitted revenue by federal Ministries, Departments and Agencies to the federation account to the tune of N450 billion. Minister of Finance, Mrs Kemi Adeosun who made the disclosure during a media briefing in Abuja, yesterday,  also said a recovery committee Chaired by the Accountant General of…

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    Nigeria’s Forex Reserves Increase By $657m

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    Nigeria’s forex exchange reserve recorded a geometric increase in the last four weeks as it rose by $658million within November alone, a dependable source at the Central Bank of Nigeria (CBN) confirmed to LEADERSHIP yesterday. According to the source, who asked not to be named because he was not authorised to speak on the matter,…

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  • FG Loses $52m In Federation Export Sales

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    Information from the Federation Account Allocation Committee (FAAC) yesterday showed that the federal government lost the sum of $52million which it was supposed  to get from the federation export sales in October this year. Crude oil export volume decreased while the average price of crude oil dropped, resulting in revenue loss of about $51 million…

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    CBN Denies Plan To Freeze Dom Accounts

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    The Central Bank of Nigeria (CBN) has denied claims that it was planning to confiscate funds in domiciliary accounts of individuals, saying the claim was “false”. The CBN also said yesterday that it does not have any plan to amend the nation’s Foreign-Exchange Act to sanction anyone found hoarding foreign currencies, as earlier rumoured. “To…

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    Heritage Bank Not In Distress – CBN

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    The Central Bank of Nigeria  (CBN) has debunked reports that Heritage Bank was under financial distress and unable to discharge its obligations to its depositors. In a statement that was signed by its Ag. Director, Corporate Communications, Isaac Okorafor, the apex bank referred to the report as unfounded rumor and called on the bank’s customers…

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    FG Inaugurates Committee To Recover N450bn Un-remitted Funds From MDAs

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    The Federal Ministry of Finance has set up a committee to recover unremitted operating surpluses of agencies of government, said to be about N450 billion. The committee, led by the accountant-general of the federation, Alhaji Ahmed Idris, is to reconcile the operating surpluses of 31 revenue-generating agencies of government for the period 2010-2015. According a…

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    Seme Customs Generates N994.8m In October

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    Seme Area Command of the Nigeria Customs Service (NSC) has generated a total sum of N994, 813,647.06 for the month ended October 2016. The Command also made 68 seizures with a Duty Paid Value of N35, 302,957.90 in the same period, the Command said in a statement. The October revenue exceeds the amount that was…

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    Housing Deficit: FG Holds Housing Summit In Abuja

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    The federal government in conjunction with relevant stakeholders in both public and private sector has revealed plans to host a housing summit and expo in Abuja to address the housing challenges facing the nation. Speaking while briefing journalists on the summit in Abuja, recently, vice president, Abuja Chamber of Commerce, Somadinna Anene  said: “the core…

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  • Minister of Industry, Trade and Investment, Dr Okechukwu Enelamah

    Nigeria’s Economy Going Through Significant Reforms – Enelamah

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    The Minister of Industry, Trade and Investment, Dr Okechukwu Enelamah has said that Nigeria’s economy is undergoing reforms to restore the country’s glory. “The economy is going through many significant reforms and the government of Nigeria is using this opportunity to pay particular attention to other sectors apart from oil and gas, notably agriculture, manufacturing,…

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