Customs Area Controller of Apapa Area 1 Command of the Nigeria Customs Service, NCS, Yusuf Malanta has disclosed that goods worth over N245 billion were exported through Apapa port in the out gone year. Malanta, who disclosed this while speaking on Thursday at a press conference on the activities of the Command in 2021, said…
The Nigerian Ports Authority (NPA) says it is expecting 23 ships laden with petroleum products, food items and others from Jan. 12 to Jan. 20. The NPA made this known in its publication, `Shipping Position`, a copy of which was made available to the News Agency of Nigeria (NAN) on Wednesday in Lagos. According to…
Here is “The Informant247” Financial news about Pounds to Naira rate at the official and black market exchange rate Today January 10, 2022.
Former Director of Central Bank of Nigeria (CBN), Dr Titus Okunroumu, has called on the Federal Government to intensify efforts at resuscitating the nation’s refineries to boost the economy. Okunroumu told the newsmen on Friday in Sang-Ota, Ogun State, that most of the refineries were operating below optimal level, leading to importation of bulk of…
FAO on Thursday said that the UN’s benchmark food and commodity prices index rose sharply on average through 2021, compared with the previous year.
The Lagos State House of Assembly has passed the State’s Value Added Tax (VAT) bill with Speaker Mudashiru Obasa directing the Acting Clerk of the House, Olalekan Onafeko, to transmit a clean copy to Governor Babajide Sanwo-Olu, for assent. The House also passed the bill that prohibits open cattle grazing in the state. The two bills were…
The Nigerian Railway Corporation generated N1.08 billion revenue from passengers in the second quarter of the year, the National Bureau of Statistics has said. The bureau disclosed this in its Rail Transportation Data Q2 2021. According to the statistical office, the revenue generated from passengers in the second quarter of 2021 was put at N1,083,851,021…
The enforcement team of the National Agency for Food and Drugs Administration and Control (NAFDAC) Monday sealed 25 water-producing factories in Kwara State. The Kwara Coordinator of NAFDAC, Azikiwe Kenneth, disclosed this in a statement issued on Tuesday, in Ilorin. He explained that the agency had shut down five illegal packaged water manufacturing factories operating…
The Nigeria Labour Congress (NLC) has said it would call out workers on industrial action if the Federal Government implemented a proposed hike in electricity tariffs. It reminded the Minister of Labour and Employment, Chris Ngige, about the agreement reached by the Federal Government – Organised Labour Committee on Electricity Tariff on September 28, 2020….
Kwara state government said that it has received N4.3 billion as federal allocation for the month of August. The allocation comprises statutory revenue allocation SRA (gross) of N3.6 billion deductions (loans) of N672.3 million SRA (Net): N2.9 billion Value Added Tax (VAT) of N1.4 billion and exchange gain difference of N13.2 million, the Ministry of…
By: Soliu Ayatullahi Illicit financial flows (IFFs) are movements of money and assets across borders that are illegal in source, transfer, or use, according to the report entitled “Tackling illicit financial flows for sustainable development in Africa”. These outflows include illicit capital flight, tax and commercial practices like mis-invoicing of trade shipments and criminal activities…
By: Soliu Ayatullahi Absence of transparency has been identified as the major facilitator of illicit financial flows in Nigeria, research has shown. Nigeria leads other resource-rich African economies with the outflow, put at US$ 217.7 billion, or 30.5 per cent of the total. The Global Financial Integrity group, had in 2015, ranked Nigeria as one…
By: Soliu Ayatullahi Nigeria is losing about 60 per cent of her income to illicit financial flows, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) has raised a fresh alarm. Chairman of the anti-corruption body, Mr Bolaji Owasanoye, decried this huge loss at the News Agency of Nigeria (NAN) Forum, a popular interview…
