The Federal Government of Nigeria has begun investigating commercial banks for irregularities in remittances of revenue by some of them engaged in the collection of non- oil revenue for the federation account. Money deposit banks across the country would be scrutinized as their activities concerning the receipt and remittances to the federation account of taxes and duties from the Federal Inland Revenue Ser ...

The Federal Government has announced that it will resume the payment of fuel subsidy next month. The Minister of State for Finance, Dr. Yerima Ngama, made this known in Ibadan on Tuesday, shortly after the Federation Accounts Allocation Committee (FAAC) meeting ended. The government had in April, stopped the payments of fuel subsidy to oil marketers, in a bid to ensure prudent management of the fuel subsidy ...