Federal, States, LGCs Share N1.681 Trillion in April Revenue

Federal, States, LGCs Share N1.681 Trillion in April Revenue

By Oluwakemi Kindness The Federal Account Allocation Committee (FAAC) has shared a total sum of N1.681 trillion, being April 2025 Federation Account Revenue. The revenue shared to the Federal Government, States and the Local Government Councils took place at the May 2025 FAAC meeting held in Abuja. The N1.681 trillin revenue comprised statutory revenue of N962.882 billion, Value Added Tax (VAT) revenue of N598.077 billion, Electronic Money Transfer Levy (EMTL) […]

May 17, 2025 12 2

1

Economy

NAICOM Strengthens Enforcement of Insurance for Public Buildings and Construction Projects

By Oluwakemi Kindness The National Insurance Commission (NAICOM) has reaffirmed its commitment to enforcing insurance compliance for public buildings and construction sites across Nigeria. NAICOM stated this at the 4th Meeting of the Joint Committee on Insurance for Public Buildings and Buildings under Construction, in Abuja on Wednesday which brought together key stakeholders to review progress and address challenges in implementing mandatory insurance regulations. In his opening remarks, Deputy Commissioner […]

May 14, 2025 18 1

2

Economy

CBN Simplifies BVN Registration for Nigerians in Diaspora

By Oluwakemi Kindness The Central Bank of Nigeria (CBN), in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), has officially launched the Non-Resident Bank Verification Number (NRBVN) platform—a secure digital gateway enabling Nigerians living abroad to obtain their Bank Verification Number (BVN) without having to be physically present in the country. The platform is designed to enhance financial inclusion, streamline identity verification, and facilitate easier access to banking services for […]

May 14, 2025 20 2

Economy

CBN Alerts Public Against Scam Contracts and Fraudulent Claims

By Oluwakemi Kindness The Central Bank of Nigeria (CBN) has reiterate warnings that it has not authorised, licensed, or appointed any individual, group, or organisation to act as an agent or intermediary in offering contracts, financial grants, or intervention funds to the public. The CBN in a statement on Monday also notes that it did not endorse or support such claims in any form. "The attention of the Central Bank […]

May 12, 2025 9

1

Economy

Bet on Nigeria’s Growth, Uzoka-Anite Encourages Global Investors

By Oluwakemi Kindness The Federal Government has called on global investors to tap into Nigeria's vast opportunities, highlighting the country's economic pivot and potential for sustainable growth. Minister of State for Finance, Dr. Doris Uzoka-Anite, made the appeal during her address at the Milken Institute Global Conference 2025, New York, USA A statement on Monday by the Director of Information in the ministry, Mohammed Manga, quotes Dr. Anite as saying […]

May 12, 2025 14 1

15

Economy

Aviation Boost: NAICOM Rolls Out Bold New Leasing Rules

By Oluwakemi Kindness The National Insurance Commission (NAICOM) has officially launched the Revised Regulation on Insurance for Leased and Financed Aircrafts. The revised regulation seeks to strengthen Nigeria’s aviation and insurance industries, enhance investor confidence, and promote ease of doing business in the country. The unveiling held in Abuja on Monday at the Office of the Minister of Aviation, Festus Keyamo, SAN, with other key stakeholders in the Insurance and […]

May 12, 2025 22 15

2

Economy

Customs Boss Advocates ‘Nigeria First’ Drive for Economic, Security Gains

By Oluwakemi Kindness The Comptroller-General of Customs, Adewale Adeniyi, has called for the adoption of the Nigeria First initiative as a cornerstone for enhancing cross-border trade and safeguarding national security. Adeniyi made the call while delivering a keynote lecture at the Obafemi Awolowo University Muslim Graduates’ Association (UNIFEMGA) annual conference in Ile-Ife, Osun State, at the weekend. Speaking on the topic “Cross-Border Trade and Security Implications on the Nigerian Economy: […]

May 11, 2025 8 2

3

Economy

AGF Ogunjimi Commits to Quick Passage of PFM Bill

By Oluwakemi Kindness The Accountant General of the Federation, Shamseldeen Ogunijmi has expressed his readiness to ensure the successful passage of the Public Financial Management (PFM) Bill. The PFM Bill initiated by the Office of the Accountant General of the Federation (OAGF) seeks to give legal backing to the public finance management reform initiatives of the federal government and the operations of the treasury of the federation. Ogunijmi spoke at […]

May 11, 2025 6 3

Economy

PenCom Urges Lagos Governor to Ensure Equitable Pension Increases

By Oluwakemi Kindness The National Pension Commission (PenCom) has urged Lagos state Governor, Sanwo-Olu to extend periodic pension increases given to retirees under the Defined Benefit Scheme (DBS) to those under the Contributory Pension Scheme (CPS) to improve their monthly payments. The Director General, PenCom, Omolola Oloworaran, made the request during a courtesy visit to Governor Sanwo-Olu. She points out that currently, only DBS retirees are paid pension increases in […]

May 8, 2025 9