Good morning, here are the latest top business news headlines for today Sunday, August 2021.
FAAC Disburses N760bn To FG, States, LGA In July — N109bn Increase From June
The Federation Accounts Allocation Committee (FAAC) disbursed the sum N760.717 billion to the three tiers of government for the month of July.
The amount represents an increase of N109.5 billion when compared to…Read more
CBN Threatens To Sanction Microfinance Banks For Forex Trade
The Central Bank of Nigeria (CBN) has threatened to sanction and revoke the licences of microfinance banks found to be engaged in foreign exchange (forex) trade and other non-permissible activities.
The apex bank in a circular issued on Friday reminded the banks that…Read more
Staff Of CAC Encouraged To Embrace Technology To Avoid Job Loss
The Registrar General/Chief Executive Officer of the Corporate Affairs Commission (CAC), Alhaji Garba Abubakar, has allayed fears that some staff of the Commission might lose their jobs because of the ongoing digitisation of its registry operations.
A statement by Rasheed Mahe, Head, CAC’s Media Unit, quoted the…Read more
FG To Revisit Revenue Sharing Formula
The Federal Government has restated commitment to the review of the extant vertical revenue allocation formula to the three tiers of government in the country.
Alhaji Modu Aji, Commissioner, Revenue Mobilisation and…Read more
VAT Revenue Dips By N3.33bn In July
The Nigerian government’s Valued Added Tax (VAT) revenue for July was reduced by N3.33 billion.
A communiqué issued at the end of the virtual meeting of the…Read more
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