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Fund Managers

Africa to Pay Off $100bln Eurobond Debt in 10 Years

African countries will have to repay nearly $100 billion in Eurobonds between 2021 and 2032, according to data published yesterday by the Institute of International Finance (IIF), a Washington-based organization that brings together the world’s central banks and major financial groups. IIF experts explain that this situation is the result of …

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Buhari Directs Strict Compliance with Payment of Tax by Companies

President Muhammadu Buhari Thursday in Abuja directed the Federal Inland Revenue Services (FIRS) and related government agencies to plug all revenue leakages by ensuring strict compliance of tax payments by foreign companies operating in Nigeria, urging deployment of more digital platforms and seamless connections. Speaking, virtually, at the First National …

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Nigeria’s Debt Profile Hits N32.2tn

Nigeria has borrowed a total of N32.2 trillion ( $84.57 billion) at the end of September 2020, the Debt Management Office announced on Thursday. The figure implies that the nation’s debt profile rose by N1.19tn between the second and third quarters of 2020. According to a breakdown provided by the …

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Buhari Signs N13.5trn Budget, Tasks Agencies on Revenue Targets

President Muhammadu Buhari Thursday in Abuja issued stern warning to agencies of government saddled with generating revenue generation to work hard to meet their targets. The President issued the warning after he signed the Thirteen-Point- Five- Eight-Eight trillion Naira (N13.588 trillion) 2021 Appropriation Bill and the 2020 Finance Bill into …

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FAAC Shares N601bn in November

A total of N601.1 billion was shared on Wednesday to the federal, state, local governments and statutory agencies, being the Federation Accounts Allocation for the month of November, 2020. This was announced on after the FAAC meeting for the month of December 2020 held at the Federal Ministry of Finance …

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Nigerian Govt Nets N424.71bn VAT in Q3 2020

The Nigeria’s federal government generated N424.71 billion as Value Added Tax (VAT) in the third quarter (Q3) of 2020, the National Bureau of Statistics (NBS) announced on Monday. According to the NBS, in its “Sectoral Distribution of Value Added Tax Data for Q3 2020”, the new VAT represents an increase …

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