The Central Bank of Nigeria (CBN) has disbursed a total of one hundred and six point three-nine billion Naira to rice farmers under the Paddy Aggregation Scheme.
The CBN Governor, Godwin Emefiele who disclosed this in a statement, noted that the PAS was designed for Integrated Rice Millers and Large Scale Aggregators to enable them purchase home grown rice paddy at a single-digit interest rate to promote the Federal Government’s National Food Security programme.
The Federal Inland Revenue Service (FIRS), says it will commence the process of enforcement and recovery of unremitted tax deductions owed by some States and Local Governments in the country.
In a statement signed by its Executive Chairman, Muhammad Nami, the tax authority notes that most States and Local Governments have failed to remit to the Service, Withholding Tax and Value Added Tax deductions from payments made to contractors and service providers by them as required by law.
The Nigerian Exchange Limited has sustained losses for the third consecutive session to commence trading for the month of June on a downward note, as market capitalization dropped further by nine billion Naira.
According to reports, the downturn was impacted by losses recorded in medium and large capitalized stocks.