The scarcity of funds in the banking industry has assumed another dimension with banks issuing special Bankers Acceptances aimed at staff upfront salary to bouy their liquidity position.

The Lagos state government has started the implementation of the recently introduced consumption tax which is meant to enhance the state revenue generation effort to sustain the ongoing development of infrastructure as well as maintain the social services being provided to Lagosians.

THE Federal government has urged the Former Chief Justice of the Federation, Justice Alfa Belgore to within the next few weeks, develop the preliminary draft of the Nigeria Vision 2020 blueprint aimed at harmonising the various inputs from the 29 Technical Working Group (TWG) if Nigeria must achieve the set target of becoming one of the 20 world largest economies by the year 2020.

The Federal Inland Revenue Service (FIRS) has disclosed that it generateda total sum of N 808 billon within the first six month this year. The Chairman of the agency, Mrs Ifueko Omoigu-Okauru told the Economic Confidential, an online economic intelligence publication that “so far this year we overshot our targets in the month of May and June, though there are still shortfalls from the Jan-March period, we are on the upswing and we will not rest on our oars.”

The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has advocated the grant of import duty concessions and tax holiday to investors in Independent Power Projects (IPP).