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CBN, NDIC, SEC, others return over N1tr to govt



Nigeria Minister of Finance, Zainab Ahmed recession values imf Fuel Subsidy, Petrol Subsidy

The Central Bank of Nigeria (CBN), Nigeria Deposit Insurance Corporation (NDIC) and other agencies of government have returned over N1 trillion to the state coffers.

Minister of Finance Budget and National Planning, Mrs Zainab Ahmed stated this at the public presentation of the 2022 Appropriation Act.

Independent revenues are generated by the Federal Government from agencies captured under the Fiscal Responsibility Act.

They include the CBN, NDIC, the Securities and Exchange Commission (SEC), the Nigerian Television Authority (NTA), among others.


Central Bank of Nigeria CBN logo naira dollar

These agencies remit 80 per cent of their operating surplus to the Consolidated Revenue Fund Account.

Last year, Government Owned Enterprises (GEOs) returned N1.2 trillion to the account.

Other revenues in the same year amounted to N2.80 trillion.

Ahmed expressed delight that this revenue segment was performing better than expected.

The government, Ahmed said, “is targeting N10.7 trillion in 2022, inclusive of revenue from Government Owned Enterprises (GOEs)”.


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