Nigerian Finance Ministry Denies Halting Cost-of-Collection Deductions for Revenue Agencies
The Nigerian Finance Ministry has denied reports suggesting the cessation of cost-of-collection deductions for agencies like FIRS, NUPRC, and Nigeria Customs Service. The Ministry clarified that discussions are ongoing to enhance transparency and efficiency in public finance, following directives from President Bola Tinubu.
The Ministry's statement debunked claims of a new policy ending the retention of funds by revenue agencies. Wale Edun, the Ministry's coordinator, emphasized that revenue flows directly to the federal account to promote fiscal transparency and ensure adequate funding for all levels of government.
Plus234Feed summary based on reporting from NairaMetrics. Read the original report below.
Read full article
Continue on NairaMetrics
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
Nigerian Government Maintains Policy on Deducting Collection Costs
Nigerian Government Ends Revenue Deductions, Orders Full Remittance for Fiscal Reform
FIRS Denies Politicizing Tax Collection, Emphasizes Multi-Channel System
FIRS Chairman Defends Nigerian Govt's Borrowing Framework, Cites Revenue Growth
Nigeria's Revenue Surges to N3.64trn, Justifies Borrowing Plan.
Nigerian Government Reviews Revenue Agencies' Cost-of-Collection Structure for Enhanced Efficiency
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
