Economy
ESIRS: Enugu Generated N406.8bn IGR In 2025
ESIRS: Enugu Generated N406.8bn IGR In 2025
ESIRS: Enugu generated N406.8bn IGR in 2025. Mr Nnamani said the taxes collected were used to build smart green schools, type two primary health centres and revisitation of moribund assets among others.
The Enugu State Government says it generated N406.8 billion Internally Generated Revenue (IGR) for 2025, representing 80 per cent of targeted revenue of N509.9 billion for the year.
The Chairman, Enugu State Internal Revenue Service (ESIRS), Emmanuel Nnamani, made the disclosure to journalists on Sunday in Enugu on the revenue performance of the state in 2025.
According to him, in 2024, the governor set a target revenue of N509 billion for 2025 and people wondered where the money would come from.
He stated, “I’m happy to tell you today that at the end of 2025, Enugu State government collected a total IGR of 406,774, 321,758.87 and if you compare the target and actual, Enugu State achieved 80 per cent of the revenue target.”
He said that based on the figure, when compared to what was made in 2024, which was N180.5 billion, the state had grown its IGR by 125 per cent.
“The tax revenue elements of this figure is just N51.5 billion. These are the revenues that were made from taxes from individual residents in Enugu State.
“It represents only 12.6 per cent of the entire revenue.
The other non-tax revenue constitutes N355.2 billion, representing 87.4 per cent of the total IGR,” he stated.
He explained that the tax revenue grew from N30 billion in 2024 to N51.5 billion in 2025 which represented 72 per cent growth year-on-year.
Mr Nnamani said that it also showed resilience in growth, outperforming tax revenue growth of 31 per cent in 2024.
The chairman recalled that in 2022, before Governor Peter Mbah assumed office, the total revenue of Enugu State was N26.8 billion comprising revenue of N16.2 billion and non-tax revenue of N10.6 billion.
According to him, the governor gave a marching order that they should boost the revenue of the state by focusing more on non-tax areas.
“In 2023, he also gave a marching order to accountants not to touch the federal allocation for current expenses, such as salary, pensions, and overhead but to ensure it comes from IGR.
“So at the end of 2023, we generated the revenue of N37.4 billion as the tax revenue, while N14.5 billion was what we call non-tax revenue,” Mr Nnamani said.
ESIRS
He stated that in 2024, the organisation moved it and made a revenue of N180.5 billion which was over 370 per cent, stressing that out of that amount, N30 billion was tax revenue, while the remaining 150 billion was non-tax revenue.
He noted, “What 2024 assured us is that we are capable of having what we call physical resilience and also sustainability in our revenue.”
On expenses, Mr Nnamani said the taxes collected were used to build smart green schools, type two primary health centres and revisitation of moribund assets among others.
Looking ahead, he said that Enugu State projected an IGR target of ₦870 billion for 2026, noting that tax revenue might experience a temporary decline due to the implementation of pro-citizen tax reforms.
“We are confident that improved compliance and growing public trust in governance will sustain long-term revenue growth,” he added.
CBN Acknowledges High Court Ruling Over Dissolution Of Union Bank Board
Union Bank board. The court ruled that the CBN acted beyond its legal powers and, therefore, overturned that decision.
(CBN), on Thursday, acknowledged the judgement of a Federal High Court, Lagos Division, over its regulatory action on the Union Bank of Nigeria Plc (UBN) in January 2024.
This is contained in a statement by its acting director, Corporate Communications Department, Hakama Sidi-Ali, made available to journalists in Abuja.
Ms Sidi-Ali said that the apex bank was currently obtaining the Certified True Copy of the judgement and would review it carefully. She reaffirmed the CBN’s unwavering commitment to the rule of law.
“As the apex regulatory authority, the CBN remains committed to acting in accordance with its mandate and established legal processes.
“The CBN assures the public that UBN’s status is unchanged and that it remains fully capable of meeting its obligations to customers, depositors, and all stakeholders.
“The CBN will continue to provide the necessary regulatory oversight to ensure that the Union Bank operates in a safe, sound, and stable manner, while maintaining public confidence in the financial system,” she said.
CBN
The court ruling of Wednesday relates to an earlier action taken by the CBN in January 2024, which dissolved UBN’s board and management.
The court ruled that the CBN acted beyond its legal powers and therefore overturned that decision.
Kano Governor Yusuf Sacks Commerce Commissioner
Kano Governor Yusuf sacks commerce commissioner. Mr Yusuf expressed appreciation for the services rendered by the former commissioner.
Governor Abba Yusuf of Kano State has sacked Shehu Sagagi, commissioner for investment, commerce and industry, with immediate effect.
This is contained in a statement issued on Thursday in Kano by the governor’s spokesperson, Sunusi Dawakin-Tofa.
He said that Mr Sagagi has been directed to hand over the affairs of the ministry to the director of commerce pending further directives.
Mr Yusuf expressed appreciation for the services rendered by the former commissioner during his tenure in office.
He acknowledged Mr Sagagi’s contributions to the development of the state, particularly in politics, religion, and the growth of small and medium-sized enterprises.
Abba Yusuf
The governor wished him success in his future endeavours and reassured the public that his administration remains committed to efficient service delivery and to the ongoing strategic realignment of government structures for sustainable development in Kano State.
Court Jails Man for $19,400 Bitcoin Fraud In Edo
Bitcoin fraud. The Benin Zonal Directorate of the Economic and Financial Crimes Commission has secured the conviction and sentence of Osamudiamen Philip Ikilo for fraud.
The convict was arraigned on one -count charge of stealing before Justice W.I. Aziegbemhin of the Edo State High Court sitting in Benin City.
Upon arraignment the defendant pleaded not guilty to the charge, setting the stage for trial.
The charge reads: That you Osamudiamen Philip Ikilo (m) sometime in March 2024 within the jurisdiction of this Honourable Court did steal Bitcoin worth the sum of $19,400 (Nineteen thousand, four Hundred United States Dollars) belonging to one Cynthia Imade Alile by fraudulently converting the said sum to your own use, and thereby committed an offence contrary to Section 287 of the Criminal Law of Edo State Law 2022 and punishable under Section 294 of the same Law.
Bitcoin
In the course of the trial, prosecution counsel, A. S. Bala-Ribah called two witnesses and also tendered documents which were admitted by the court. On his part, the defendant called two witnesses including himself.
Delivering judgment on Monday, March 23, 2026 Justice Aziegbemhin found the defendant guilty of the charge and sentenced him to two years imprisonment without an option of fine.
Ikilo’s road to jail began when he offered to assist the petitioner convert her 0.52092582 Bitcoin worth $19,400 but failed to remit the money to the petitioner as he converted same to his personal use.
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