Wed. Sep 14th, 2022

FCCPC targets N14.3 billion revenue in 2023, says vice chairman

The Executive Vice Chairman of the Federal Competition and Protection Commission Mr. Babatunde Irukera has revealed that the Commission has a target revenue of fourteen point three billion Naira for 2023.

Mr. Irukera who made this known at a hearing on the 2023-2025 Medium Term Expenditure Framework in Abuja said that the Commission’s current remittance to the Federal Government coffer is one point two-six billion Naira.

Due to the lingering forex scarcity in the financial system, banks have begun to reduce approval requests for Personal and Business Travel Allowances.

Speaking after the last Monetary Policy Committee meeting, a member of the committee, Professor Mike Obadan said that the excess demand for foreign exchange complicates the already difficult foreign situation.

Meanwhile, the Association of Nigerian Licensed Customs Agents (ANCLA) says over four hundred thousand consignments are currently trapped at the nation’s  port due to the suspension of a popular bank for failing to remit import duties running into hundreds of billion Naira collected on behalf of the Federal Government.

Speaking in an interview, the National President, ANCLA, Dr. Kayode Farinto, noted that the suspension of the bank from collecting import duties payments may cause the economy to lose over forty billion Naira. 

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