The Centre for the Study of Economies in Africa (CSEA) investment experts have partly linked the growing inactive bank accounts in the country to weak economic situation, as reflected in high inflation, high unemployment, and the continued depreciation of the domestic currency, amongst others. As a way out of the monetary challenge, they charged the […]
The Federal Inland Revenue Service (FIRS) has issued a tax credit certificate to Nigeria Liquefied Natural Gas Limited (NLNG), for the construction of the Bonny-Bodo road and bridge in Rivers State. While issuing the tax credit certificate last Thursday at the FIRS’ headquarters in Abuja to the company’s Deputy Managing Director, Mr. Olalekan Ogunleye, who […]
The Federal Government on Sunday projected that when completed, the Lekki Deep Sea Port project would create 112,000 jobs and by so doing help to partly address the rising unemployment rate in the country. The Minister of Transportation, Alhaji Muazu Sambo, who made this projection while chatting with media men in Jalingo, Taraba State capital, […]
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), […]
The Federal Inland Revenue Service (FIRS) has certified corporate entities’ donations to former Minister of Finance’s, Mrs. Kemi Adeosun’s charity organisation, DashMe Foundation, as tax deductible based on the provisions of the Companies Income Tax Act (CITA). As a result, the revenue agency has issued a tax-deductible donations certificate to DashMe Foundation. The FIRS issues […]
….draws down $80mn to deepen operations in S/Africa Africa Data Centres (ADC), a business of Cassava Technologies, a pan-African technology group, has drawn down the first tranche of USD 83 million out of the USD 300 million strategic investment from the United States International Development Finance Corporation (DFC) approved in 2021. The initial tranche is […]
…to launch revised Capital Market Masterplan in November The Securities and Exchange Commission (SEC) Nigeria has urged the Federal Government to consider its proposal to exempt corporate bonds from the payment of tax. The Director-General of the commission, Mr. Lamido Yuguda made the plea at the weekend during a press briefing on the outcome of […]
Nigeria’s House of Representatives Committee on Public Accounts has ordered the Corporate Affairs Commission (CAC) and the Federal Inland Revenue Service (FIRS) to provide the details of the companies involved in the N18 billion bush-clearing contracts of the Federal Ministry of Agriculture and Rural Development (FMARD). The committee’s chairman, Hon. Oluwole Oke, gave the directive […]
….as transactions on platform hit N4bn The Central Bank of Nigeria (CBN) on Thursday disclosed that effective from next week, Nigerians can subscribe to the eNaira using short codes as part of its efforts to improve the acceptability of the digital currency. The Central Bank Governor, Godwin Emefiele, who gave this hint during the eNaira […]
In furtherance of its sustained monetary measures to boost the nation’s economic performance, the Central Bank of Nigeria (CBN) has increased the interest rate for intervention loans from 5% to 9%, effective from July 2022. The apex bank, which disclosed this in a press release titled ‘Adjustment Of Interest Rate On All Central Bank Of […]