Anchor Borrowers Scheme
24 Mar
Disturbed by implementation of Anchor Borrowers Scheme, a Central Bank of Nigeria (CBN) intervention on agriculture, members of business community in Kano, have described the programme as a scam.Â
Latest
NOW
The Chairman, Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has clarified a post challenging a proposed increase in the rate of Value Added Tax (VAT) which he shared on X in 2019. In the post, Oyedele said VAT rate increase will lead to higher inflation, interest rate hike, and more unemployment, adding…
NOW
The National Pension Commission (Pencom) has announced that low-income earners can now choose between withdrawing their entire retirement savings or continuing to receive their current pension. A memo dated November 27, 2024, and signed by A.M. Salem, Head of the Surveillance Department at Pencom, outlined the new regulation. This change follows President Bola Tinubu's signing…
32 mins ago
The Joint Security Taskforce in Imo State, otherwise known as Operation Udoka, has arrested over twenty suspected members of the proscribed Indigenous People of Biafra (IPOB) and its security outfit, Eastern Security Network (ESN), in a joint clearance operation. This was as the security team raided and destroyed their camps at Aku Community in Okigwe…
37 mins ago
The House of Representatives was thrown into a rowdy session following the open declaration of support by the spokesperson of the House, Akintunde Rotimi Jr., for the controversial tax reform bills initiated by President Bola Ahmed Tinubu. Trouble started after Rotimi Jr., representing Ekiti North 1, Ikole/Oye, drew the attention of his colleagues to the…
44 mins ago
The Federal Government has said there should be no room for name-calling or the injection of unnecessary ethnic and regional slurs into the national conversation on the Tax Reform Bills before the Senate. The Minister of Information and National Orientation, Mohammed Idris, made the appeal in a statement commending the "robust nationwide debate" that has…
50 mins ago
The Social and Economic Rights Accountability Project (SERAP) and the 2023 presidential candidate of the African Action Congress (AAC) Omoyele Sowore has called for the release of activist Dele Farotimi. The Nigeria Police Force from Zone 2 Command in Lagos arrested Farotimi following a defamation petition. SERAP cautioned the Nigerian government against using criminal defamation…
1 hour ago
Kogi State governor, Ahmed Usman Ododo, has presented a budget proposal of N582,404,119,489.00 before the Kogi State House of Assembly for approval. This is his first budget presentation since assumption in January 2024. The governor tasked the state assembly members with quick deliberation and approval for the overall development of Kogi State. He also told…
1 hour ago
Lagos and Rivers are two states that will witness an unfavourable change in the advent of the proposed value-added tax (VAT) derivation. This is according to the VAT Consumption Data by the National Bureau of Statistics (NBS). Under the current model, Lagos gets 80.26% but the new model will see -81% change, resulting in a…
1 hour ago
Operatives of the Ondo State Security Network Agency have arrested a 36-year-old man for staging his own kidnapping and demanding a ransom of N50 million from his employer. The suspect, identified as Akpooh Edet, worked as a security guard at Rubber Estate in Ose River, Ovia South West Local Council Area of Edo State, before…
1 hour ago
Operatives of the FCT Police Command have swooped on one-chance criminal syndicates terrorising the seat of power, foiling robbery operations, and rescuing victims. FCT police boss, CP Tunji Disu, who paraded the suspects, expressed heartfelt gratitude to the residents of the Federal Capital Territory for their continued support and cooperation during their intensified security operations…