FEC approves Finance Bill 2020

The Federal Executive Council today approves a Finance Bill which is aimed at strengthening the financial sector of the economy.

The Finance Bill 2020, according to the Minister of Finance, Budget & National Planning, Zainab Shamsuna Ahmed, is critical to the implementation of the 2021 Budget.

The proposal which was brought forward during the weekly FEC meeting presided over by President Muhammadu Buhari by Mrs. Ahmed, will soon be transmitted to National Assembly for consideration

The Minister also noted that “the bill is designed to bring about incremental changes in the nation’s tax laws.” She however assured Nigerians that the passage of the bill into law would not lead to increase in taxes in the country. “This is not the time to increase taxes” she added.

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