The Federation Account Allocation Committee (FAAC) shared N750.17 billion among the three tiers of government in January 2023, according to a communiqué issued at the end of the committee’s latest meeting in Abuja on Monday. The figure represents a decrease of N240.02 billion compared to the N990.19 billion shared in December 2022. The amount includes gross statutory revenue, Value Added …

In a bid to promote tax compliance and sensitise the public on the importance of paying taxes, the Chartered Institute of Taxation of Nigeria (CITN) Lagos and District Society embarked on a sensitisation walk at the Mechanic Village, Agidingbi, Lagos. The walk, which was led by the sectoral group’s chairman, Zaynab Abdulkareem saw members of the Institute, including tax experts …

Meta, the parent company of Facebook and Instagram, has announced rollout plans for Meta Verified, a subscription bundle that includes a verified badge. Meta CEO, Mark Zuckerberg announced on his verified Facebook that the paid verification would be rolled out this week. A gradual test of the service will commence this week in Australia and New Zealand, according to a …

The National Chairman of the All Progressives Congress (APC), Senator Abdullahi Adamu and the Progressive Governors Forum (PGF) on Sunday called for compliance by the Federal Government to the Supreme Court order on the controversial naira swap policy. The call came on the heels of a meeting between Adamu and the APC governors in Abuja over a policy that seemingly deepens …

The Governor of Ondo State, Arakunrin Rotimi Akeredolu has urged President Muhammadu Buhari to immediately halt the implementation of the new monetary policy, which entails the swapping of the old Naira notes with the new ones. In an open letter to the President, Akeredolu said that this is a crucial moment for the country and the implementation of the new …

Deposit Money Banks (DMB) on Saturday, continued to collect old N500 and N1,000 notes from customers, contrary to a statement by the Central Bank of Nigeria (CBN). The banks include GTB, First Bank, Fidelity Bank, and Sterling Bank. TheCable verifies the collection of old notes at different local banks. Long queues were seen in front of banks as customers attempted …

Approximately 40 percent of the volumes credited to crude losses in the Nigerian petroleum industry are actually attributable to measurement inaccuracies and not theft as often reported, according to the Chief Executive of the Nigerian Upstream Regulatory Commission (NUPRC), Engr. Gbenga Komolafe. At the Petroleum Club Quarterly Dinner over the weekend, Komolafe said that the revelation followed a forensic audit …

Ten states have asked the Supreme Court to declare the new directive of President Muhammadu Buhari, reintroducing the old N200 notes and declaring old N500 and N1,000 notes as unconstitutional. On Thursday, President Buhari directed the Central Bank of Nigeria (CBN) to re-circulate only the old N200 notes. This is after the apex court did not vacate the order that …

The Nigerian Maritime Administration and Safety Agency (NIMASA) has provided technical support to Instituto Marito e Portuaruo IMAP in São Tomé and Príncipe. While making the presentation at an event in São Tomé, with the Nigeria’s Ambassador to São Tomé, Ambassador Gambo Hamza in attendance, NIMASA’s Director General, Dr Bashir Jamoh said that the Federal Government of Nigeria is committed …

Emerging Markets Telecommunication Services (EMTS), operating as 9mobile, on Friday announced the addition of Victor Nwaobia as Chief Sales Officer to its leadership team. In his new role, Nwaobia will be part of the executive management team of one of the industry’s leading telcos, and will be responsible for driving the company’s sales strategies, initiatives, and objectives across the consumer …