The Federal Inland Revenue Service (FIRS), the agency responsible for federally collectible revenue administration, has said that when governments deploy tax revenues for the common good of the citizens, there is a concomitant increase in tax compliance by citizens who see the direct benefit of the taxes they pay. The Executive Chairman of the Service, […]
The National Pension Commission (PenCom) has released a revised Regulation on Retirement and Terminal Benefits for immediate implementation by PFAs and other stakeholders involved in the nation’s pension management. Specifically, the revised regulation contains new provisions on Pension Enhancement, Voluntary Contributions, payment under the Micro Pension Plan (MPP), payment of benefits of missing persons and […]
The House of Representatives Committee on Commerce has commended the Corporate Affairs Commission (CAC) for the transformational processes it introduced in the nation’s corporate registry system and the attendant benefits to the country. The commission’s Head of Media unit, Mr Rasheed Mahe, in a statement on Monday indicated that the lawmakers, led by Hon. Femi […]
—-as Reps, Customs query daily subsidy claims by coy The Nigerian National Petroleum Company Limited (NNPC Ltd) has reacted to allegations of fraud in the fuel subsidy regime, saying it is prepared to open its books for a forensic audit of fuel supply and subsidy management over the past years. The company, in a […]
The Nigeria Deposit Insurance Corporation (NDIC) has said that effective resolution of banks in distress as critical to guaranteeing depositors’ protection in the country. The corporation, on its official Twitter handle on Thursday, tweeted that the effective resolution of lender’s crisis would also ensure the stability of the financial system. According to the tweet, developing […]
The Chairman of Ondo State Internal Revenue Service (ODIRS), Mr. Tolu Adegbite, has described taxation as a key fiscal instrument needed for stimulating sustainable development of Nigeria and other countries globally. Adegbite, who made this remark in his lecture titled ‘Tax, The Future and You’, at a programme organized by Elizade University Tax Club (EUTC), […]
Britain’s accounting watchdog, Financial Reporting Council (FRC) on Monday slammed £1.75m fine on auditor PwC after it failed to properly challenge UK telecoms group, BT, once a half-a-billion pound fraud was discovered in BT’s Italian operations. A news report by Irish Times quoted the Council as saying that that BT’s full-year financial statement for the […]
Jaiz Bank Plc, Nigeria’s non-interest pioneer bank, has released its unaudited financial results for the half year ended 30 June this year to the Nigerian Exchange Group (NGX), which indicated that that it recorded a 27.6% increase in Profit After Tax (PAT) to N2.54 billion, up from N1.99 billion declared in the corresponding of 2021. […]
NIRSAL Microfinance Bank Limited (NIRSAL MfB) has launched two new products as part of its on-balance sheet lending packages for easy access to affordable credit facilities by micro, small and medium enterprises (MSMEs) to boost their businesses and salary earners to cater for their needs. The SME loan is for micro businesses and SMEs engaged […]
Dangote Sugar Refinery Plc, one of the commodity manufacturing companies listed on the Nigerian Exchange, on Tuesday reported a Profit Before Tax (PBT) of N29.73 billion in the half year ended June 30, 2022. The company made this disclosure in a statement signed by the Group Head, Corporate Communications, Dangote Group, Mr. Anthony Chiejina. According […]