FAAC crisis and the dangers ahead
“The Forum of Commissioners of Finance from the 36 states led by the Chairman, Mr Timothy Odaah, had expressed anger over the unpaid arrears amounting to about N160bn($1bn)”. PUNCH 19, 2013.
Nigerians, for reasons difficult to understand, seem to be totally uninterested in the most important issues affecting their lives; one such is monthly revenue allocation to states. For the last one week, while the focus had been on politics, NGF, PDP etc, the Finance Commissioners of the 36 states had been in a tug of war with the Federal government; which owes them, collectively, about N160 billion.
Ex-LASTMA official arrested for impersonation
There was an uproar, yesterday, at Mile Two, along the Oshodi /Apapa expressway, Lagos, following what was later discovered to be a false alarm by a dismissed official of the Lagos State Traffic Management Authority, who was allegedly resisting arrest.
CBN ‘ll maintain benchmark interest rates – CDH REPORT
Consolidated Discount House has said that the Central Bank of Nigeria (CBN) will maintain its benchmark interest rate despite reduction in the inflation rate to 9.0 per cent in May.
1,500 Nigerian refugees flee to Cameroon – ENVOY
ABUJA—The state of emergency declared in the North-Eastern states of Borno, Yobe and Adamawa by President Goodluck Jonathan has forced about 1,500 refugees into the northern part of Cameroon, Nigeria’s ambassador to that country has said.
Acquired assets will be efficiently managed – NNPC/NPDC
The Nigerian National Petroleum Corporation, NNPC, and its subsidiary the Nigerian Petroleum Development Company, NPDC, have expressed their readiness to professionally and efficiently operate the oil assets acquired from the Shell Petroleum Development Company, SPDC.
FIRS automates tax deductions in aviation sector
…Telecoms, others follow soon
The Federal Inland Revenue Service (FIRS) is to commence implementation of automated Value Added Tax (VAT) and withholding tax deductions at source for the aviation industry beginning from September 2013. Other sectors such as the telecommunication and financial services sector are to follow after.
