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Is CBN And NCC A Revenue Generating Agencies - Politics (2) - Nairaland

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Senate Gives Osinbajo Ultimatum To Submit Budgets Of Revenue Generating Agencies / FG Revenue Generating Agencies Loot 90% Cash / Garba Shehu Bought $800,000 From CBN And Resold It At A Profit - PDP (2) (3) (4)

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Re: Is CBN And NCC A Revenue Generating Agencies by seunmsg(m): 1:12pm On Oct 01, 2015
menabadoo:
APC e-goats won't seize to amaze me, if NCC and CBN are revenue generating agencies, then we can also call inec, NBS, federal universities and Immigration revenue generating agencies too.

You don't know anything. CBN means central BANK of Nigeria. Apart from regulating the banking sector and formulating the monetary policies of the government, they also act as the federal governments bank, lender of last resort to commercial banks, manage the country's foreign reserves and do other banking services. They don't do all these for free, they make huge revenue in the process.

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Re: Is CBN And NCC A Revenue Generating Agencies by seunmsg(m): 1:24pm On Oct 01, 2015
omonnakoda:


The CBN is not a revenue generator)( FOR GOVERNMENT). The CBN's assets are not available for government expenditure .
The CBN even makes profit but this does NOT accrue to the federation account.
CBN funds are fiscally neutral as far as government is concerned.


Actually, CBN pays a certain percentage of their profit as revenue to the consolidated revenue fund. Note, not federation account.

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Re: Is CBN And NCC A Revenue Generating Agencies by omonnakoda: 1:39pm On Oct 01, 2015
seunmsg:



Actually, CBN pays a certain percentage of their profit as revenue to the consolidated revenue fund. Note, not federation account.

Really? Well I am not disputing that but have you got any sources. I like to learn something new daily
Re: Is CBN And NCC A Revenue Generating Agencies by adedayourt(m): 2:03pm On Oct 01, 2015
omonnakoda:


The CBN is not a revenue generator)( FOR GOVERNMENT). The CBN's assets are not available for government expenditure .
The CBN even makes profit but this does NOT accrue to the federation account.
CBN funds are fiscally neutral as far as government is concerned.

so wen dey mke dos rev, do dey av d sole liberty to appropriate frm it as dey wish, if they are liberty to do so y us d govt auditing dem.
Re: Is CBN And NCC A Revenue Generating Agencies by seunmsg(m): 2:05pm On Oct 01, 2015
omonnakoda:


Really? Well I am not disputing that but have you got any sources. I like to learn something new daily

I don't have an online source right now but you can cast your mind back to the period of the crisis that led to the removal of Sanusi as CBN governor. He came out clearly as at that time on how much the CBN under him as remitted to the CFR from its profits. In fact, he stated it clearly then that he was the first CBN governor to pay parts of the banks profit to government coffers in line with government regulations.

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Re: Is CBN And NCC A Revenue Generating Agencies by omonnakoda: 2:10pm On Oct 01, 2015
seunmsg:


I don't have an online source right now but you can cast your mind back to the period of the crisis that led to the removal of Sanusi as CBN governor. He came out clearly as at that time on how much the CBN under him as remitted to the CFR from its profits. In fact, he stated it clearly then that he was the first CBN governor to pay parts of the banks profit to government coffers in line with government regulations.

OK so what is this CFR??
Re: Is CBN And NCC A Revenue Generating Agencies by seunmsg(m): 2:14pm On Oct 01, 2015
omonnakoda:


OK so what is this CFR??

CRF actually. Consolidated revenue fund. That's where all federal government revenues go into.

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Re: Is CBN And NCC A Revenue Generating Agencies by omonnakoda: 2:19pm On Oct 01, 2015
seunmsg:


CRF actually. Consolidated revenue fund. That's where all federal government revenues go into.
Is the Federal Government the the only shareholder of the CBN?
Re: Is CBN And NCC A Revenue Generating Agencies by seunmsg(m): 2:46pm On Oct 01, 2015
omonnakoda:
Is the Federal Government the the only shareholder of the CBN?

I think so.

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Re: Is CBN And NCC A Revenue Generating Agencies by Bevista: 3:00pm On Oct 01, 2015
dustmalik:

The ediotic saTANoids are deliberately ignoring your post.
I don't think the lady who opened the thread is necessarily a Tanoid. My impression is that she was a bit rattled by the President's assertion that CBN and NCC are revenue generating agencies. So she became curious and then genuinely set out to clear her doubt by asking folks in the house.
Re: Is CBN And NCC A Revenue Generating Agencies by agabusta: 5:14pm On Oct 01, 2015
tamunoibiso:
I want to know if CBN and NCC are now revenue generating agencies.
According to the 11th paragraph of the president's speech that says
"In addition to NNPC, I have ordered for a
complete audit of our other revenue generating agencies mainly CBN, FIRS,
Customs, NCC, for better service delivery
to the nation."

wirinet:


NCC sell all sorts of licences, they collect revenues and fines from all telecomunication companies. They sell licences to TV and radio stations all over the country, and lots of other revenue generating activities. Even Internet service providers have to pay NCC for their spectrum.
See spectrum fees and prices here - http://www.ncc.gov.ng/index.php?option=com_content&view=article&id=85&Itemid=99
Re: Is CBN And NCC A Revenue Generating Agencies by joeybankz: 11:08am On Nov 10, 2020
Traditional Functions Of Central Bank....

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