KADUNA TARGETS ₦120BN IGR IN 2026 — KADIRS CHAIRMAN. (PHOTO).

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 Kaduna Targets ₦120bn IGR In 2026 — KADIRS Chairman   Kaduna State has set an Internally Generated Revenue (IGR) target of ₦120 billion for the 2026 fiscal year, with the Kaduna State Internal Revenue Service (KADIRS) expected to play a central role in achieving the target. The Executive Chairman of KADIRS, Jerry Adams, FCTI, FNIM, FCE, CNA, disclosed this during the Service’s Annual Performance Review, Work Plan, and Strategic Retreat.  He explained that although the state government approved ₦74 billion as KADIRS’ official revenue target, the Service raised its internal benchmark to ₦80.09 billion to motivate staff to exceed expectations. He further stated that the proposed 2026 budget by the Kaduna State Planning and Budget Commission stands at ₦117.28 billion, with KADIRS expected to generate ₦74.28 billion, while Ministries, Departments, and Agencies (MDAs) are projected to generate ₦43.24 billion. According to Adams, the retreat was convened to strengthen implement...
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CBN REVOKES LICENCE OF HERITAGE BANK. (PHOTO).

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 CBN revokes licence of Heritage Bank


The Central Bank of Nigeria, CBN, has revoked the operating licence of Heritage Bank.


The Acting Director, Corporate Communications, CBN, Hakama Sidi Ali, disclosed this in a statement.

She said: “The Central Bank of Nigeria, CBN, in accordance with its mandate to promote a sound financial system in Nigeria and in exercise of its powers under Section 12 of the Banks and Other Financial Act (BOFIA) 2020, hereby revokes the licence of Heritage Bank Plc with immediate effect.


‘This action has become necessary due to the bank’s breach of Section 12 (1) of BOFIA, 2020.


“The Board and Management of the bank have not been able to improve the bank’s financial performance, a situation which constitutes a threat to financial stability.


“This follows a period during which the CBN engaged with the bank and prescribed various supervisory steps intended to stem the decline.


“Regrettably, the bank has continued to suffer and has no reasonable prospects of recovery, thereby making the revocation of the license the next necessary step.


“Consequently, the CBN has taken this action to strengthen public confidence in the banking system and ensure that the soundness of our financial system is not impaired.


“The Nigeria Deposit Insurance Corporation (NDIC) is hereby appointed as the Liquidator of the bank in accordance with Section 12 (2) of BOFIA, 2020.


“We wish to assure the public that the Nigerian financial system remains on a solid footing. The action we are taking today reflects our continued commitment to take all necessary steps to ensure the safety and soundness of our financial system.”

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