List of top business acronyms in Nigeria

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L I ST O F ACRONYM S
AEs: Advanced Economies
B: Billion
BDC: Bureau De-Change
BIR: Budget Implementation Report
BOF: Budget Office of the Federation
CBN: Central Bank of Nigeria
CIT: Company Income Tax
DMO: Debt Management Office
ECA: Excess Crude Account
EMDEs: Emerging Markets and
Developing Economies
FAAC: Federation Account Allocation
Committee
FGN: Federal Government of Nigeria
FIRS: Federal Inland Revenue Services
FMF: Federal Ministry of Finance
FRC: Fiscal Responsibility Commission
GDP: Gross Domestic Product
IMF: International Monetary Fund
IPPIS: Integrated Payroll and personnel
Information Management System
INEC: Independent National Electoral
Commission
JVC: Joint Venture
M1: Narrow Money Supply
M2: Broad Money Supply
MB&NP: Ministry of Budget and National
Planning
MBPD: Million Barrels Per Day
MDAs: Ministries, Departments and
Agencies
MPR: Monetary Policy Rate
MTFF: Medium Term Fiscal Framework
NASS: National Assembly
NBS: National Bureau of Statistics
NCS: Nigeria Customs Service
NDDC: Niger Delta Development
Commission
NFA: Net Foreign Assets
NHRC: National Human Rights
Commission
NJC: National Judiciary Commission
NNPC: Nigerian National Petroleum
Corporation
NTB: Nigerian Treasury Bills
OAGF: Office of the Account General of the
Federation
OAN: Other Assets Net
OPEC: Organization of Petroleum
Exporting Countries
PCC: Public Complaint Commission
PPT: Petroleum Profit Tax
PSC: Production Sharing Contracts
SC: Service Contracts
TSA: Treasury Single Account
UBEC: Universal Basic Education
Commission
US: United States
VAT: Value Added Tax
ZBB: Zero Base Budgeting