The Punch
CBN Reveals Federation Account Balance Grows to N6.86 Trillion in Third Quarter 2024
The Nigerian federation account's revenue grew to N6.86 trillion in Q3 2024, a 7.48% increase from the previous quarter.
The federation account's revenue increased significantly in the third quarter of 2024, growing by 7.48% to reach a total of N6.86 trillion. This surge is attributed to a boost in corporate tax and VAT receipts. The Central Bank of Nigeria's latest Economic Report has revealed this substantial increase in the nation's financial position.
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