The federal government has begun implementation of a 40 percent automatic deduction from internally generated revenues of federal universities and other partially-funded institutions, Leadership reports. The policy of 40 percent auto-deduction of gross IGR is in line with the Finance Circular with reference number FMFBNP/OTHERS/IGR/CRF/12/2021 dated December 20, 2021. The circular limits the annual budgetary expenditure from IGR of the partially funded federal government. The information was contained in a letter that was issued by the accountant-general of the federation, Mrs Oluwatoyin Madein, to the universities titled ‘Implementation of 40%…
Read MoreNigerian Government Asks Universities, Others To Remit 40% Revenue
