ADEOSUN HOLDS FIRST FACEBOOK LIVE SESSION: ASSURES CONTINUITY OF ‘YOUWIN’ PROGRAMME
The Minister of Finance, Mrs Kemi Adeosun, held her first-ever Facebook Live session on Tuesday, April 4, 2017. The 23-minute event, filmed at the Ministry of Finance headquarters in Abuja, and broadcast live through her Facebook page, reached an audience of more than 130,000 persons within the first hour. Read More»
MINISTER OF FINANCE CLARIFIES ACTIONS TAKEN ON ALLEGED FRAUD IN YOUWIN PROGRAMME
The attention of the management of the Federal Ministry of Finance has been drawn to a story in The Punch newspaper of Tuesday, March 28, 2017 entitled, “Probe Uncovers Massive Fraud in YouWin Programme.” Read More»
FG EXTENDS TENURE OF 2016 BUDGET CAPITAL ELEMENTS
The Accountant-General of the Federation, Alhaji Idris Ahmed has issued a Circular extending the tenure of the Capital elements of the 2016 Budget until May 5, 2017 or the passage of the 2017 Budget, whichever is the earliest, Minister of Finance, Mrs. Kemi Adeosun has announced. Federal Ministries, Departments and Agencies are hereby urged to take note of the content of the Circular.
FINANCE MINISTRY UNVEILS MANAGEMENT AND BOARD MEMBERS OF DBN
The Federal Ministry of Finance on Thursday, announced details of members of the board and management of the newly licensed Development Bank of Nigeria (DBN). The Management team is led by Mr. Tony Okpanachi, a banker and erstwhile Deputy Managing Director/Deputy CEO, Ecobank Nigeria Limited. Read More »
NIGERIA PRICED ITS US500 MILLION NOTES AT A YIELD OF 7.5 PERCENT
Announcement of pricing of US$500 million notes by the Federal Republic of Nigeria under its US$1.5 billion Global Medium Term Note programme to be consolidated and form a single series with the Federal Republic of Nigeria’s existing US$1,000,000,000 Notes due 2032. Read More »
CBN APPROVES LICENCE FOR DBN
The Central bank of Nigeria has approved the grant of a Wholesale Development Finance Institution Licence with national authorization to the Development Bank of Nigeria (DBN) Plc, the Minister of Finance, Mrs. Kemi Adeosun has confirmed. Read More »
2016 BUDGET: CAPITAL RELEASES TO MDAS REACH THE N1TRILLION MARK
Capital releases to Federal Ministries, Departments and Agencies (MDAs) for the 2016 budget, have reached a record N1 trillion, the highest ever budgetary releases in Nigeria’s annual funding for capital projects, Minister of Finance, Mrs. Kemi Adeosun has revealed. Read More »
FG, STATES, LGs SHARE N429.127 BILLION AS FEBRUARY 2017 ALLOCATION
The Federal Government, States and Local Government Councils have shared a total of N429.127 billion federal revenue generated for the month of February 2017. The N429.127 billion was lower than the N465.149 shared in January by N36.022 billion. Read More »
ADEOSUN CLARIFIES PARIS CLUB REFUND
The Minister of Finance has deemed it necessary to address the issue of Paris Club Refunds and wishes to assure the public that the Federal Government has consistently complied with all extant rules and regulations in the disbursement of the Paris Club refunds to State Governments. Read More »
APPROVAL OF THE REVISED NATIONAL TAX POLICY BY THE FEDERAL EXECUTIVE COUNCIL
OPEN DATA FOR AFRICA INITIATIVE
Link to Open Data For Africa Initiative External
- Written by Administrator2
Formulating fiscal policies.
Implementing fiscal policies.
Processing of Tariff matters.
Distribution of Revenue from the Federation Account.
Handling matters relating to African capacity Building foundation (ACBF) and the National capacity Building Programme.
Formulation and review of tax income and VAT rate policies.
Compilation and updating of the list of all companies that pay CIT and monitor such payment.
Settlement of income tax and VAT rate disputes. Answer: Fiscal Measures, Research and Statistics department.
Facilitating and monitoring the effective Implementation of World/IFAD assisted projects as well as the amortisation of the facilities. Answer: International Economic Delation Department (IER).
Participating in policy formulation, processing and negotiation of all IBRD, IDA, IFAD loan/credit and grants to Nigeria. Answer: International Economic Relation Department (IER).
Issurance of Annual Budget calls circulars to all Federal Ministries/Extra-Ministerial Departments. Answer: Expenditure Department.
Production of Green Book (Draft Budget). Answer: Expenditure Department.
Preparation and publication of Annual Report and Quarterly performance Report on the Economy. Answer: Economic Research and Policy Management.
Registration of Contractors. Answer: Administrative Department.
Budget Formulation, Preparation,Defence and Implementation. Answer:Expenditure Department (BOF).
Budget Monitoring and evaluation. Answer: Budget Monitoring and Evaluation Department (BME).
Managing the International Economic Relations of the country. Answer: International Economic Relations Department (IER).
Managing the country’s foreign and domestic debts. Answer: Debt Management Office (DMO).
Monitoring projects financed by Bilateral and Multilateral Institutions. Answer: International Economic Relations Department (IER).
Regulating the Capital Market. Answer: Securities and Exchange Commission (SEC)/Home Finance Department.
Regulating the activities of the Insurance Industry. Answer:National Insurance Commission (NAICOM) and Home Finance Department.
Resolving Capital Market disputes. Answer: Investment and Securities Tribunal (IST) and Securities and Exchange Commission (SEC)...
Collection of government revenue and formulation of tax Policy. Answer: Federal Inland Revenue Service (FIRS) and Revenue Department (BOF).
Processing and issuance of waivers. Answer: Fiscal Policy Department (BOF).
Approval of waivers. Answer: Mr. President.
Processing application for appointment of Consultants on revenue matters. Answer: Revenue Department.
Issuance of AIE. Answer: Expenditure Department to be cash-backed by Office of the Accountant General of the Federation (OAGF).
Monitoring Customs Revenue Collection and Remittance by designated Banks. Answer: Revenue Department.
What is the procedure a dissatisfied Customer to our services should do to get his problem solved ?.
Answer: First report to SERVICOM Department/Unit Nodal Officer in charge of the Service Window concerned, if not satisfactorily solved, he can now report to the Ministerial Nodal Officer, Federal Ministry of Finance (FMF) Abuja.
How can a customer lodge a complaint?.
What happens when a consumer complaint is received by Servicom Unit?.
Answer:The complaint is analyzed and investigated immediately. SERVICOM Unit reaches out to the service window complained against. If the Unit is satisfied that the service window acted contrary to the servicom work ethics, the unit takes appropriate action without delay.
Will SERVICOM Unit get back to the customer who lodged a complaint?.
Answer: Yes of course. In case where investigations are concluded in less than 48 hours, the complaint will be reached by phone or other wise he/she will be communicated in writing on the out come of the review within one week.
What issues can customers complain to SERVICOM Unit? .
Answer: These include the following among others: Non-chalant attitude towards providing services, poor services delivery, unauthorized collection demand of cost of services, demand of bribery, withholding of files without an genuine reasons(s), and other form of misconducts.
Is SERVICOM Unit a government agency?.
Answer: Yes. Servicom Unit is a full – fledged federal government’s Service Delivery initiative and Institutionalize service delivery principles to Nigerian public service.
Why the delay in payment of salaries?.
Answer:Release of funds for the Payment of Salaries/MDAs involves 3 agencies thus:
- Expenditure Department issues AI
- OAGF cash backs on availability of funds.
- CBN pays cash.
How can I know the allocation given to the three tiers of Government? Answer: You can find the answer on the Ministry’s website: http://www.fmf.gov.ng