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In another significant move to strengthen the national payments system and deepen the usage of electronic platforms in Nigeria, the Central Bank of Nigeria (CBN) on Thursday formally unveiled the Nigerian National Domestic Card Scheme, known as AfriGo. the unveiling of the new payment platform reputed to be the first…

MEDIATRACNET Nigeria is leading six other African countries in the 13-members Organisation of Petroleum Exporting Countries (OPEC) currently producing about 80 percent of the global proven crude oil reserves, Minister of State for Petroleum Resources, Timipre Sylva, has said. Despite this, the Minister said Nigeria, along with its counterparts in…

By Bassey Udo To promote the national objectives under the Nigerian Gas Flare Commercialisation Programme (NGFCP), 139 successful applicants pre-qualified to invest in the country’s gas sector will participate in the second Bidders’ Conference/Investors Forum scheduled for Abuja, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has said. As part of…

By Bassey Udo Amid calls by lawmakers in the National Assembly for the extension of the deadline for old naira banknotes to remain as legal tender, the Central Bank of Nigeria (CBN) on Tuesday insisted it has no plans to shift the January 31, 2023 deadline. Both the Senate and…

MEDIATRACNET The Federal Inland Revenue Service (FIRS) rolled out the drums in a little show of self-adulation ver its performance with the announcement on Monday of its achievement of the highest tax revenue collection in its history. In presenting its “FIRS 2022 Performance Update,” report after his briefing President Muhammadu…

MEDIATRACNET Some traders and transporters in the South East Zone of the country have expressed worry over the menace of incessant collection of taxes and levies in the area, especially by touts and market unions. A News Agency of Nigeria (NAN) survey on the effects of multiple taxes on businesses…

MEDIATRACNET Ahead of the January 31 deadline set by the Central Bank of Nigeria (CBN) for some of the old currency denominations to cease to be legal tender, scarcity of the redesigned N1,000, N500 and N200 banknotes still persists nationwide. On Sunday, most bank customers decried the continued distribution of…

By Bassey Udo More than 64 years after its establishment, the Ministry of Finance Incorporated is set to have its inaugural board of directors and executive management team. The MOFI was established by the instrumentation of the provisions of Sections 2 and 3 of the Ministry of Finance Incorporated (MOFI)…

By Bassey Udo The Nigerian National Petroleum Company Limited was on Wednesday granted its request to undertake the rehabilitation of another 44 roads across the country. The approval was granted by the Executive Council of the Federation during weekly meeting in Abuja presided over by Vice President Yemi Osinbajo. The…

Why new revenue allocation formula is delayed – RMAFC A new revenue allocation formula being proposed for the country is being delayed by the absence of an amendment to the 1999 Constitution, the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has said. The Chairman of the Commission, Muhammed Bello Shehu…