With a few days to the official launch of the Central Bank Digital Currency (CBDC), eNaira, in partnership with Bitt Inc, Nigerians are anxiously waiting to experience a new banking product touted to be a game changer on the local business landscape. When the Director of Information Technology, Central Bank of Nigeria (CBN), Rukiya … [Read more…]
No fewer than 3,964 Nigerians are currently on the watch list of the Nigeria Immigration Service. The names of the affected individuals, it was gathered, have been placed with security agencies at the nation’s international airports where they will be arrested on sight. According to the 2020 NIS annual report suspect index, 308 … [Read more…]
Commissioning of Dakkada Tower: Osinbajo says Buhari regime spent N8.9 trillion on infrastructure in 2020 alone “As of last year, we expended over N8.9 trillion on infrastructure development despite the severe economic meltdown in the country,” said the vice president. Vice President Yemi Osinbajo says President Muhammadu Buhari’s regime has spent N8.9 trillion on infrastructural … [Read more…]
VAT War: Kano lawmakers want tax chief sacked over poor revenue Amid the VAT war pitting Rivers and Lagos against the federal government, the Kano State House of Assembly has issued a 48-hour ultimatum to Governor Abdullahi Ganduje to sack Abdulrazak Salihi, the chairman of the state’s internal revenue service. Hamisu Chidari, the assembly speaker, … [Read more…]
VAT: Despite Appeal Court ruling, Wike inaugurates new tax commission Rivers Governor Nyesom Wike on Friday inaugurated the state’s Tax Appeal Commission shortly after the Abuja Division of the Court of Appeal ordered maintenance of status quo in the collection of value added tax by state governments. The commission inaugurated by Mr Wike is saddled … [Read more…]
FG implements cooking gas imports tax, price jumps by 100% The Federal Government has implemented a 7.5 per cent tax on imported Liquefied Petroleum Gas, popularly called cooking gas, as the cost of the commodity leap by over 100 per cent within a period of eight months. It was gathered on Sunday that the government … [Read more…]
Amidst the so-called “harsh economy” which has necessitated a poor living condition for most Nigerians, suffice to say that there are still small businesses which can yield an appreciable return on investment (ROI) when viewed against the backdrop of lucrative startups in the country. However, in the day-to-day running of business, players in … [Read more…]
The Central Bank of Nigeria CBN Governor, Mr Godwin Emefiele, Tuesday disclosed that the $110million weekly allocation and sale of foreign exchange to Bureau De Change (BDC) operators in the country has stopped. The Governor, who made the disclosure at a media briefing shortly after the July Monetary Policy Committee (MPC) meeting of the … [Read more…]
By Magnus Emuji Delta State Governor, Senator Ifeanyi Okowa, has underscored the importance of tourism development towards reducing unemployment in any society. Okowa stated this in Asaba in a keynote address during the launching of Senior Secondary Tourism Books for written by the Chairman of the Board of Directors in … [Read more…]
A report by a committee of the House of Representatives has recommended the arrest of the Central Bank of Nigeria (CBN) Governor Godwin Emiefele, Nigeria National Petroleum Corporation (NNPC) Group Managing Director Mele Kyari and 52 other heads of government agencies for gross violation of the provisions of the Financial Regulatory Council on rendition … [Read more…]
The naira exchanged to the dollar at 503 at the parallel market on Friday according to the Bureau de Change operators. Figures obtained from naijbdcs.com, the official website for the licensed BDCs by the Central Bank of Nigeria showed that the naira was bought and sold for 502 and 503.5. The naira … [Read more…]
NIGERIA is an emerging market, middle income and mixed economy, and is ranked the 27th largest economy in the world. It has the largest natural gas economy in Africa and is also the largest oil and gas producer in the continent. The country had a good head start with a well-defined First National … [Read more…]