The Managing Director of Heritage Bank Plc, Ifie Sekibo, has emphasized the need for capacity building among employees of financial institutions for improved operations. He made this remark at a 3-day yearly Internal Control and Audit Conference organised by the bank in Lagos. According to the banker, training acquired personally and arranged by corporate organisations […]
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, on Monday said that the Federal Government was committed to ensuring that at least three modular refineries become operational as from next year. Kachikwu, who gave this hint at the 18th Biennial International Conference for Health, Safety and Environment (HSE) in Lagos, noted that the […]
The Acting Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Mr. Umar Gana, has disclosed that its various investigations of tax remittances by banks, stamp duty collections, Withholding Taxes (WHT) and Value Added Tax (VAT) have led to the recovery of N268 billion from the affected institutions nationwide. Gana, who made this disclosure […]
The Senate Committee on Banking, Insurance and Other Financial Institutions has expressed a strong commitment to the accelerated amendment of the Nigeria Deposit Insurance Corporation (NDIC) Act, 2006, to eliminate the gaps that had hindered the full realization of the public policy objectives of the implementation of the Deposit Insurance System (DIS) in Nigeria. The […]
Four companies, namely Dangote Flour Mills, Fidelity Bank, MTN Nigeria and Obajana Agrosacks Limited have been dragged by three state governments to a Tax Appeal Tribunal (TAT) for North Central Zone sitting in Jos, Plateau State, for alleged tax evasion worth millions of Naira. The companies were sued by the governments of Benue, Kogi and […]
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) concluded its two-day meeting in Abuja on Thursday, retaining key monetary interest rates. Specifically, with all the 11 members of the committee voting in concurrence, the MPC retained the MPR benchmark rate at 14 percent and retained the asymmetric corridor at +200 and […]
The Federal Government on Wednesday disclosed that foreign tourism investors willing to invest in the country would enjoy sundry fiscal incentives, including a three-year tax exemption and import/export concessions. The Minister of Information and Culture, Mr. Lai Mohammed, made the during the fourth edition of the Tourism Investors Forum and Exhibition (NTIFE) held in Abuja. […]
The Debt Management Office (DMO) on Wednesday reported that it sold Federal Government bonds worth N39.52 billion at the November edition of the monthly auction. Three bonds in tenors of 5 years, 7 years and 10 years were offered at the auction. According to the debt management office, allotments were made to the successful bidders […]
The President of Cooperative Federation of Nigeria (CFN), Mr. Tajudeen Adeola, on Wednesday said that the proposed Cooperative Bank would commence operations by January next year based on arrangements made so far to actualise the dream. Adeola, who gave this hint in Abuja at the 4th National Cooperative Summit, said that the initiative to operationalise […]
The Nigeria Customs Service, Seme Command, On Wednesday disclosed that it intercepted goods worth N2,839,507,352.66 between September and November this year and also generated N1,948,408,519.66 during the period. The Customs Area Controller, Seme Command, Mohammed Garuba, made the disclosure while briefing the media on the operations of the command at the ECOWAS Joint Border Post […]