The Federal Inland Revenue Service (FIRS) on Tuesday stated that companies that were unable to file their Companies Income Tax (CIT) returns for the 2023 year of assessment (Y-o-A) that fell due on the 30th of June 2023 have been given up to 31st August, 2023 to submit their returns. The Service, in a Public […]
The Lagos Chamber of Commerce and Industry (LCCI) has advised President Bola Tinubu to use his leadership of the Economic Community of West African States (ECOWAS) to facilitate the implementation of the proposed common currency – ‘eco’ – for the sub-region. The President of the organized private sector (OPS) group, Dr. Michael Olawale-Cole, in a statement released on Tuesday said the […]
President Bola Tinubu has approved the establishment of a Presidential Committee on Fiscal Policy and Tax Reforms of which the Fiscal Policy Partner and Africa Tax Leader at PriceWaterhouseCoopers (PwC), Mr. Taiwo Oyedele, will serve as Chairman. The committee will also fiscal experts from both the private and public sectors as members and have responsibility […]
Encouraged by the current reforms and competition among exchanges in global financial markets, the Nigerian Exchange Limited (NGX) has disclosed that it is working with the Central Securities Clearing System (CSCS) Plc and other stakeholders to reduce the settlement cycle from T+3 to T+1 over the next few years. This is even as the Exchange […]
…..Says sector contributes N10.126Trn to GDP in 2022 The Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, has announced that investments in the nation’s telecommunications sector, comprising foreign direct investment (FDI) and domestic component, grew to $75.6 billion as of the end of 2021. Danbatta disclosed this at an interactive […]
….as non-interest lender’s PBT surges by over 300% in FY 2022 TAJBank Limited, Nigeria’s fast-growing and technology-driven non-interest banking services provider, has set a new record in the nation’s banking system with the payment of dividend to its shareholders just three years of its operations. It would be recalled that TAJBank made history early […]
The Nigerian Insurers Association (NIA) reported on Tuesday that the nation’s insurance sector recorded 33.9% surge in premium volume in financial year 2022, posting N726.2 billion growth compared to the N569.1 billion premium income recorded in 2021 The NIA Chairman, Mr. Olusegun Omosehin, made this disclosure during the association’s 52nd Annual General Meeting (AGM) held […]
The Central Bank of Nigeria (CBN) has reported that the currency in circulation surged to an all-year-high volume of N2.5 trillion in May 2023, representing 7.4% increase from the N2.3 trillion it reported was in circulation in January this year. The currency in circulation comprises currency outside the banking system and the vault cash of […]
A group of civil society organisations (CSOs) in the country committed to anti-corruption drive has flawed the Federal Government on the implementation of the Single Treasury Account (STA), the Open Treasury Portal (OTP) and many other fiscal efficiency initiatives in view of the abuses that characterized their implementation, such as the failure to remit funds […]
The Development Bank of Nigeria (DBN) has disclosed that it provided N631 billion as financing support to Primary Financial Institutions (PFIs) in the country over the past five years ended December 2022. The Managing Director of the development finance institution, Dr. Tony Okpanachi, who made this disclosure in Lagos while presenting the progress and achievements […]