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Controller and Accountant-General’s Department office in Ghana overseeing public payroll verification
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Ghana to Reinstate Salaries of Over 2,000 Public Workers After Payroll Verification

The Controller and Accountant-General’s Department (CAGD) has announced that the salaries of more than 2,000 public sector workers that were temporarily suspended will be reinstated once their employment status is verified and clearance procedures with the Ghana Audit Service are completed. The Department explained that the salary suspension followed recommendations by the Auditor-General and was implemented in accordance with Public Financial Management (PFM) regulations, which mandate strict monitoring of government payroll systems. Payroll Clean-Up Exercise Behind Salary Suspension Speaking in an interview with Citi FM in Accra, the Controller and Accountant-General, Kwasi Agyei, said the move forms part of broader efforts to eliminate irregularities within the public sector payroll while ensuring that legitimate workers are not unfairly affected. According to Mr. Agyei, the Auditor-General conducted a nationwide headcount exercise in 2025 to verify public sector employees. “The Auditor-General conducted a […]

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Tinubu asks lawmakers to extend 2025 budget to March 2026

President Bola Ahmed Tinubu has asked the National Assembly to extend the implementation of the 2025 budget from December 31, 2025 to March 31, 2026. He also wants approval to consolidate the capital components of the 2024 and 2025 budgets as part of wider fiscal reforms.​ Tinubu made the request in a letter dated December 18, which was read at Friday’s plenary by the Speaker of the House of Representatives, Abbas Tajudeen. He noted that the new letter replaces his earlier correspondence on the same subject dated December 16.​ In the letter, the President transmitted Appropriation (Repeal and Re enactment) Bills for 2024 and 2025 to the National Assembly. He explained that the bills seek to repeal the existing 2024 and 2025 Appropriation Acts and replace them with revised spending frameworks.​ For 2024, Tinubu proposed repealing the N35.06 trillion budget […]

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More Money For Govt Yet Nigerians Get Poorer

A new analysis has shown that funds shared by the Federation Accounts Allocation Committee to the three tiers of government have surged sharply in the last four years, yet living conditions for most Nigerians keep deteriorating. The report revealed that total FAAC allocations jumped from about N9.18 trillion in 2022 to N10.9 trillion in 2023 and N15.26 trillion in 2024, an increase of roughly 66 percent within two years.​ Despite this rise in public revenue, poverty indicators remain grim, with more households struggling to afford food, transport, health care and housing. Rising inflation, weak job growth and the impact of subsidy removal have combined to wipe out any potential benefits of higher government earnings for ordinary citizens.​ Data in the report show that states and local governments have also benefited significantly from the higher inflows, receiving record amounts from FAAC […]

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The Truth About Nigeria’s Tax Reform on Investment Income and Personal Savings

Recent claims that Nigeria’s Federal Inland Revenue Service (FIRS) is introducing new taxes on personal savings have sparked confusion. In reality, the withholding tax on interest income from Treasury bills, bonds, and promissory notes is not a new policy—it has been enforced under the Companies Income Tax Act (CITA) for years. The renewed enforcement simply reminds financial institutions to deduct tax at the source on investment earnings. Importantly, the tax does not apply to the principal saved, but to the interest earned. There is no increase or expansion of taxes since the current administration took office; the public notice only reinforces compliance with existing law. While savings accounts themselves are not taxed, interest generated from savings constitutes taxable income and is taxed accordingly. A temporary exemption on these earnings expired last year, and renewed enforcement aligns with global practices to […]

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NCDC Clarifies Its N140 Billion 2025 Budget Proposal

The North Central Development Commission (NCDC) has issued a clarification regarding its 2025 budget proposal, which is currently before the National Assembly. In a statement, the Commission's Executive Director of Corporate Services, Mr. James Uloko, confirmed that a proposal of N140 billion was submitted to the Senate Committee on NCDC. This budget is intended to fund the full takeoff of the newly established commission. The statement explained that the Senate Committee has reviewed the proposal and made observations and adjustments during its scrutiny. However, these specific changes are not yet reflected in the initial figures being reported. Uloko emphasized that the budget is still a "working document" and the final approval, including the exact figures, will only be confirmed after the House of Representatives Committee conducts its own review and concurs with the Senate. The NCDC assured the public of […]

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