Nigeria’s payment represents 40.42 per cent of the total payment of 2,913,088,908 dollars made by all the 15 member states
Economic Community of West African StatesAccording to documents from a presentation by the ECOWAS Commission to Parliament at Plenary during its Virtual Second Extraordinary Session, Nigeria paid 853,310,564 UA for the period under review.
Ghana paid about $508,577 million, Cote d’Ivoire $347,262 million, while Benin, Burkina Faso, Cape Verde, Guinea, Guinea Bissau, Gambia, Liberia, Mali, Niger, Senegal, Sierra Leone and Togo paid a total of $879,711 million. The News Agency of Nigeria reports that the Community levy was adopted in 1996 by the Authority of Heads of State as the major funding for ECOWAS after the initial contribution regime seemed ineffective.
Also in the presentation to Parliament, there were certain exemptions to the tax on imported goods. These included aids and grants to support development projects and goods imported under a financial agreement with foreign partners.A further look into the community levy data showed that many countries were yet to pay the total sum from their community levy assessments.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Alleged $1.29m, N46m laundering: EFCC arraigns Renoccon Properties MD, Morakinyo - Daily Post NigeriaThe Economic and Financial Crimes Commission (EFCC) has arraigned Renoccon Properties Development Limited and its Managing Director, Babatunde Morakinyo,
Read more »
NNPC in $1.5bn oil-for-loan deal with traders|p style=
Read more »
FG Signs $1.5bn Prepayment Deal with Oil Traders - THISDAYLIVEBy Emmanuel Addeh in Abuja with agency reports The federal government has signed a $1.5 billion prepayment deal with Standard Chartered and backed by oil traders Vitol Group and Matrix Energy. The Nigerian National Petroleum Corporation (NNPC) signed on behalf of the federal government. A report yesterday by Reuters, quoting persons close to the matter, …
Read more »
$1.2bn Azura activation agreement signed by Buhari govt – Document|p style=
Read more »
EFCC charges firm, MD with laundering $1.29m, N46mThe Economic and Financial Crimes Commission (EFCC) Monday arraigned a firm, Renocon Properties Development Ltd, and its Managing...
Read more »
ECOWAS calls on implementation of regional legal instrumentsFollowing the impact of COVID-19 pandemic on regional free movement, the ministers were also briefed on guidelines to be adopted by the Member States, and on border management. Nigeria ECOWAS
Read more »