NIGERIA WINS WORLD BANK'S YOUTH DEVELOPMENT INITIATIVE
For the second successive year, Nigeria has won the Ideas for Action initiative, a youth competition on financing for development, which is yearly organised by the World Bank Group in collaboration with the Zicklin Center for Business Ethics Research. Read More»
FG INAUGURATES INVESTMENT AND SECURITIES TRIBUNAL
The Federal Government has reconstituted the Investment and Securities Tribunal (IST) as a practical step towards restoring investors’ confidence in the capital market and repositioning it to contribute positively to the country’s economy. Read More»
FG RELEASED N336bn CAPITAL FUNDS TO MDAs IN FIRST QUARTER 2017
The Federal Government has, to date, released a total of Three Hundred and Thirty-Six Billion Naira (N336bn) from the 2017 Budget to Federal Ministries, Departments and Agencies (MDAs) for funding of capital projects in the first quarter of 2017. Read More»
MINISTER OF FINANCE SAYS FISCAL DISCIPLINE, RATIONAL ALLOCATION OF RESOURCES ARE VITAL FOR ECONOMIC GROWTH
Fiscal discipline, improved revenue generation, rational allocation and efficient use of resources must be imbibed every tier of Government in the country to return the economy to the path of sustainable growth and development. Read More»
FG RELEASES DETAILS OF ANOTHER PARIS CLUB REFUNDS MADE TO STATES
FG has released a State by State breakdown of another tranche of Paris Club refund of over-deductions on Paris Club, London Club Loans and Multilateral debts on the accounts of States and Local Governments (1995-2002) as contained in the table Read More»
VAIDS implementation: FG to provide training for professionals
To support the successful implementation of the recently-launched Voluntary Asset and Income Declaration Scheme (VAIDS), the Federal Government has committed to providing free training to accountants, lawyers, wealth managers, stockbrokers and other professional advisers to the public on the scheme. The free training is aimed at equipping them to give advice to their clients on participating in the scheme.Read More»
ADEOSUN: TECHNOLOGY WILL ENHANCE TAX COMPLIANCE
The Federal Government will deploy and heavily rely on technology to increase tax compliance under the recently launched Voluntary Asset and Income Declaration Scheme (VAIDS). Minister of Finance, Mrs. Kemi Adeosun has said. Read More»
PROJECT ACT NOLLYWOOD – INNOVATIVE DISTRIBUTION FUND (IDF) DISBURSEMENT
The programme aims to improve and promote key components of the value chain through the provision of grants scheme designed to support existing or aspiring practitioners within the Industry, including the Diaspora.Read More»
WORLD BANK TO ASSIST NIGERIA TO STRENGTHEN AND CONSOLIDATE FSP
The World Bank Group is set to assist Nigeria’s State Governments improve their fiscal sustainability by strengthening and consolidating the Fiscal Sustainability Plan (FSP). The FSP was introduced by Federal Government in 2016 as part of the measures to tackle the 2015-2016 fiscal crisis that followed the decline in revenue and budget cuts leading to two financial bailouts for the States by the Federal Government. Read More»
FG: REVENUE MOBILISATION IS CRITICAL TO OUR SUCCESS
While delivering the keynote address at the NSE-BLOOMBERG CEO Round Table in Lagos on Friday, the Minister of Finance, Mrs. Kemi Adeosun, said that revenue mobilisation is critical to the success of Nigeria’s economic reform agenda. Read More»
FG confirms first payments to Whistleblowers
The Federal Ministry of Finance has confirmed release of N375.8M to the first batch of 20 providers of information under the Whistleblower Policy. The payment, of various amounts totaling N375,875,000, relate to the recovery of N11,635,000,000. Read More»
FGN ASSETS: Minister of Finance Urges MDAs to submit records faster
The Minister of Finance, Mrs. Kemi Adeosun, has urged all Federal Ministries, Departments and Agencies, including Nigeria’s Diplomatic Missions and posts and tertiary institutions to speed up the compilation and submission of the inventory of their assets held as at 31st December, 2016 to facilitate the registration of such assets. Read More»
FG APPROVES HIGHER INTEREST RATE ON UNPAID TAXES
The Federal Government has approved a new interest rate spread on unpaid taxes for the year 2017. The new interest rate was approved by the Minister of Finance, Mrs. Kemi Adeosun. Read More»
NATIONAL TAX POLICY
Following the approval of the Federal Executive Council (FEC) for the implementation of the recommendations of the Revised National Tax Policy (NTP) and endorsement of the HMF for the constitution of the NTP Implementation Committee, the Committee has commenced the implementation of the policy recommendations. National Tax Policy and Tax Laws and Regulations
REDUCTION OF IMPORT AND EXPORT DOCUMENTATION REQUIREMENTS
Following the Federal Government's on-going efforts to improve the ease of doing business in Nigeria, His Excellency, Prof. Yemi Osinbajo, SAN, Vice President of the Federal Republic of Nigeria and Chairman, Presidential Enabling Business Environment Council (PEBEC), recently approved the reduction in the number of documents required... [PDF]
REVISED EXPORT GUIDELINES FOR NON-OIL EXPORT
Any person intending to export non-oil Products out of Nigeria shall in the first instance, process the Nigerian Export Proceeds Form (Form NXP or any other form so prescribed) through an Authorized Dealer Bank irrespective of the value and whether or not payment is involved. Read More» or download [PDF]
REVISED EXPORT GUIDELINES FOR OIL AND GAS EXPORTS
Any person intending to export oil and gas and related products out of Nigeria shall, in the first instance, process the Nigerian Export Proceeds Form (Form NXP and any other form so prescribed) through an Authorized Dealer Bank irrespective of the value and whether or not payment is involved. Read More» or download [PDF]
REVISED IMPORT GUIDELINES, PROCEDURES AND DOCUMENTATION REQUIREMENTS UNDER THE DESTINATION INSPECTION SCHEME IN NIGERIA
Pursuant to the Federal Government’s decision for a seamless transfer of the Destination Inspection Scheme for imports from the Scanning Service Providers (SSPs) to the Nigeria Customs Service (NCS) with effect from 1st December 2013, robust guidelines, procedures and documentation regime shall be enthroned to enhance the integrity of the system. Read More» or download [PDF]
OPEN DATA FOR AFRICA INITIATIVE
Link to Open Data For Africa Initiative External
- Written by Administrator2
Federal Ministry of Finance Mail and 419 Disclaimer
We receive several emails and other correspondences bordering on Advance Fee Fraud also known as 419 on a daily basis. 419 is a menace to the Federal Ministry of Finance. Scams are carried out by fraudulent people who plan to defraud gullible respondents.
- often contact you by unsolicited bulk mail, spam email but will eventually start calling by phone as soon as you give them your details
- claim to have a lot of money stashed away in a Nigerian (African) account but there are several other variants - Inheritance, Wills, Next of kin, Contract claims and recently, Lotteries
- often need someone to help them transfer it out of the country with a view to sharing the said sum with them.
- assure you it’s a risk free deal and encourage you to send them your personal details.
- often lead you on by sending falsified paper work to support what they claim. They often include id cards, passports, faxes, memos, approvals, funds release certificates, fake cheques, fake Nigeria National Petroleum Corporation (NNPC) letter of contract award, agreements, inheritances, fake Federal Ministry of Finance letter head, fake Federal Ministry of Finance stamps, fake CBN letter head, fake NNPC and CBN official stamps, etc.
- often use yahoo.com (and other free email providers) e-mail address as a medium of communication and not the government approved Nigerian top domain names - i.e. .gov.ng.
- often mimic Federal Ministry of Finance, Nigeria domain email accounts and other Financial Institutions to mislead ATM users.
- Some organized scammers often have a fake Federal Ministry of Finance, Nigeria website where they post fake documents to support their claims.
- Their preferred means of transferring money is by Money Gram and Western Union Money Transfer. They will never transfer via secure means like – Swift Code.
- Almost every scam is done with the name of a fake Federal Ministry of Finance staff or post or position.
* Please confirm all business propositions mailed to you with the Nigerian Embassy in your country or the Director, Legal Services of the Federal Ministry of Finance.
Though the Federal Ministry of Finance maintains a fraud helpdesk in her Legal Services Division, the Federal Ministry of Finance may not be obliged to respond to any e-mails in the above scenarios.