Bobloco: ABUJA – MINISTER of Finance and Coordinating Minister of the Economy, Wale Edun has disclosed a new government policy that would permit Nigerians who are keeping dollars outside the banking system to bring those funds into the financial system.
Edun, said such individuals have a nine-month grace period to comply with the directive without attracting legal liability or financial penalties.
The Finance Minister disclosed this while briefing journalists at the end of the National Economic Council, NEC, presided over by the Vice President, Senator Kashim Shettima, at the Council Chamber, Presidential Villa, Abuja.
The Minister also gave an update on the Excess Crude Account currently standing at $473,754.57, the Natural Resources Fund at ₦26,105,837,627.67, and the Stabilization Account at ₦36,299,452,763.62.
Edun equally gave update on government economic relief measures, saying 25 million Nigerians have benefitted from federal social protection initiatives, including digital outreach, microenterprise loans, and sector-specific support for power, agriculture, manufacturing, health, and compressed natural gas (CNG) initiatives.
He said, “One element of the cost increase is the foreign exchange rate, and that is demand and supply. There is going to be a release today, details by the federal government through the Ministry of Finance, in conjunction with the Central Bank, a programme, starting today, 31st of October, and lasting nine months, that will allow people to bring in cash that is outside the banking system.
“So therefore it is unsafe, it is unsecure and it is outside of legal limits. They will allowed forbearance to bring dollars cash. Let me emphasize once again, it is to bring dollars that they are holding outside the system to be able to bring them in and credit it to their bank accounts, as long as it is not proceeds of crime, illicit money. There will be no penalty, there will be no taxes, there will be no questions.
“They just meet the normal ‘Know Your Customer’ criteria of banks and they have an opportunity to bring in those funds, make them safe, make them secure, and make them available through normal, economic activity.
“The details of that, the guidelines of that, will be released, first of all, the announcement by the Ministry of Finance and the guidelines later will follow very quickly by Central Bank.
Thank you for your feedback. You asked for photographic evidence? Please find attached a piece of furniture upholstered with the original antique colonial era upholstery fabric, which some of our people now refer to as 'Isi-agu'.
Also find attached a White European man wearing the same head warmer that some of our people now call their 'traditional cap'.
These materials were introduced into Igboland in the 1850s. If you can show me any documentary evidence of the existence of Isi-agu or your traditional cap before Bishop Samuel Ajayi-Crowther brought European missionaries to Igboland, I make a vow and covenant to pay you ₦10 million.
Do you even see what some of our people call okporoko (stockfish) today? It is also not of Nigerian origin. It was a prominent aspect of the relief materials used to address the Kwashiokor crisis between 1967 and 70. That is why and how okporoko became popular in Biafra and Igboland till today. We have Chief Awolowo and the nation of Norway to thank for Okporoko. Before the Nigerian civil war, Nigerians did not know anything like Okporoko.
Wike thinks government service makes him turn into some type of powerful spirit or something...no wonder he kept on moaning about the future of his 'political career' prior to last year elections
Criminals for Naija done generally decode the fact say Catholic Fathers dey control solid money...and they draw attention to themselves due to the fact say dem dey fúck tohtoh like say tomorrow no dey!
In fact forget tohtoh, dem dey fûck man, fūck small pickin join
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delpee: That's shameful! Revenue should not be decreasing in these hard times. The governor needs to revolutionise the revenue collection process. Lagos is a good place to learn from.
It's surprising that Zamfara with enormous mineral resources is one of poorest on the list. Ditto for Nassarawa and Plateau.
Restructuring is the key to progress.
Revenue is not decreasing it's being diverted to fictitious expense-heads in order to pay the bills of private entities that are totally unconnected to government
What you're experiencing is a novel method of government corruption and money laundering
Osun State has slipped to the worst Internally Generated Revenue (IGR) performer in the Southwest region of Nigeria, according to the Nigeria Bureau of Statistics (NBS).
In 2023, Osun generated significantly less revenue than its Southwest counterparts, with Ekiti state, once at the bottom with N17billion, now surpassing Osun with an impressive N34 billion as against Osun's N27billion.
This decline is alarming, considering Osun's ranking as 16th in the country with an IGR of N24.6 billion in 2022 during the previous administration of ex-Governor Adegboyega Oyetola.
However, in the latest assessment, Osun has dropped to 20th position, fueling criticism from the opposition that the current administration is ineffective and hindering progress.
Recall the Senator Ademola Adeleke government was harshly criticised last year when some officials of the government were identified collecting the state revenue into their personal accounts.
Yet Osun has one of the highest debt-profiles nationwide, as a result of that undercover-lunatic named Aregbesola
The biggest fools and losers are those who still cannot comprehend or appreciate the depth of criminality that has been instituted and normalised by the APC within just eighteen months
I swear Igbo people are the most cowardly in Nigeria! Yoruba, Ijaw or Hausa can never take a quarter of the nonsense they suffer under the shadow of electoral procedure!
Delta State gets about N40 billion a month. what Delta State gets is the aggregate of what Anambra, Imo, Enugu, Abia, & Ebonyi states get cumulatively.
I've asked the governor what he's doing with the money and he said that he is paying back Okowa's debt. - Senator Ned Nwoko
Nwoko wey be say na no1 parasite him sef be
Politicians survive on the fact that the average Nigerian IQ is only slightly better than that of a simpleton...and it's not for any genetic reason, just that most Naija people never learned how to think, while they were growing up
Beekeeper1: I’ve always been that person who says, “Naija till I die!” I grew up here, spent my whole life here, and I love this place like it’s part of my DNA. The food, the culture, the vibe—there’s just nothing like it. Even when my friends left for “greener pastures,” I was here, holding down the fort. “Who will remain to fix Naija if we all run away?” I’d joke.
But last month, my patriotism met its match.
It all started on a Monday morning—the kind that already feels like it’s out to get you before it even begins. I had a big presentation that day, one that could finally lead to a promotion. I got up extra early, suit pressed, slides perfected, and was out the door, determined to make a great impression.
Then NEPA happened. Halfway through my morning routine, the lights went out. No electricity. “No wahala,” I thought, scrambling to find my power bank for my phone and a flashlight to finish getting ready. I wasn’t going to let a little thing like no power stop me, right?
As I headed out, I noticed the fuel gauge blinking “empty.” Just my luck. I made a quick detour to the petrol station, only to be greeted by a line that looked like half of Lagos was there. An hour later, I was still in that line, watching the time tick by as my promotion dreams started slipping out of reach. But I finally got fuel, threw a thank you to the attendant, and sped off, hoping to make up for lost time.
And then I hit the traffic. Not today, please, I thought, gripping the steering wheel, whispering every “I cast and bind” prayer I knew. But Lagos traffic doesn’t answer prayers—it just swallows time, no matter how hard you beg.
I was almost at the office when I got stopped. You guessed it—police checkpoint. The officer took his sweet time inspecting my documents, dropping hints about “something for the weekend,” and I watched the last precious minutes melt away. By the time he finally waved me off, I’d missed my meeting.
When I finally got to the office, my boss didn’t even let me explain. She just gave me the look, that one that says, You had one job. I knew then that any hope for that promotion was gone.
That was it. I was drained, frustrated, and completely over it. It was like the universe was telling me, “Oga, it’s time to go.”
I don’t want to leave Naija; I really don’t. But sometimes, loving this place feels like being in a relationship with someone who just can’t get it together. You see the potential, the charm, the good heart underneath, but there’s always something—always some last-minute obstacle, some hidden clause that makes it so hard.
So yeah, I have a ‘japa’ plan now. I still love this place, and I always will. But maybe I need to love it from afar, with a little less “NEPA wahala” and a bit more stability. It’s a bittersweet plan, but hey, maybe one day I’ll come back, and Nigeria will be ready to meet me halfway.
Until then, my ‘japa’ plan is officially on standby. Because as much as I love this place, sometimes love just isn’t enough.
You've got to leave Nigeria if you intend to achieve your full potential i.e. without stealing from other people or making them your slave(s)
No one who is scrupulously honest and law-abiding can create a decent future in this demonic society
VitalSocialNEWS: You Can Pass Your Message Without Being A Nitwit.
Fact Check Developed Countries Like New Zealand, Sweden, Ireland, Finland etc And Read About How SAFE Their POLICE SYSTEMS Are. We Are Not Talking About Racist Countries Like The USA Which Many of You (Nigerians) Think It is The Only Developed Country When Elites Who Have Travelled Far And Wide Talk About 'Developed Countries'.
Personally, I've Been To Finland And Norway... And I Can Tell You That These Are Countries With Great Police Systems.
So, Quit With Your JUDGMENTAL BIAS And Learn How To Write Publicly Without Being Sponge Box.
Politics › Re: Doyin Okupe, Peter Obi’s Former Campaign DG Visits President Tinubu by NewDea4: 12:09am On Nov 01, 2024
