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]
NIGERIA URGES IsDB TO SUPPORT THE IMPLEMENTATION OF ERGP
The Federal Government has urged the Islamic Development Bank (IsDB) to do more for Nigeria by supporting the implementation of the country's Economic Recovery and Growth Plan (ERGP) and the delivery of signature infrastructure to meet the development aspirations of Nigerians.Read More»
NIGERIA TO SERVE AS IsDB REGIONAL HUB FOR AFRICA
Nigeria may become the regional operational hub of the 43-year old Islamic Development Bank (IsDB) in Africa, as the development finance institution is considering a proposal to expand its existing country gateway office in Abuja to serve as a key regional office. Read More»
FG BANS MDAs FROM TRANSACTING BUSINESS WITH UNREGISTERED FIRMS
The Federal Government has banned Ministries, Departments and Agencies (MDAs) from transacting business with companies and other corporate bodies that were not duly registered by the Corporate Affairs Commission. Read More»
FG: CAPITAL RELEASES EXCEED N1.2 TRILLION IN 2016
As the 2016 budget closes, Federal Ministry of Finance has released details of the N1.2 trillion capital releases made. In line with Government’s increased focus on capital expenditure, the following releases were made. Read More»
NIGERIA READY FOR BUSINESS: JAPANESE FIRMS URGED TO SET UP MANUFACTURING PLANTS IN NIGERIA
Minister of Finance, Mrs. Kemi Adeosun has told a Japanese Trade and Investment Mission to Nigeria that the country is open and ready to continue to do business with the rest of the world and urged the big Japanese companies to invest in the country by setting up manufacturing plants, instead of shipping-in finished products. Read More»
FEC APPROVES US$250m SOFT LOAN TO PROVIDE BASIC SERVICES TO 14 MILLION PEOPLE
The Federal Executive Council on Wednesday approved a US$150 million soft loan from African Development Bank (AfDB) and US$100 million from African Development Finance (ADF) for Rural Water Supply and Sanitation Initiative (RWSSI) as well as a Grant of five million Euro to finance Inclusive Basic Service Delivery and Livelihood Empowerment Integrated Programme in five states of the North East. Read More»
FG INAUGURATED COMMITTEE ON PENSION LIABILITIES
An inter-ministerial committee to review all pension liabilities of the Federal Government and come up with strategies to offset such liabilities has been inaugurated by the Minister of Finance, Mrs. Kemi Adeosun, who chairs the Committee. 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