Africa generates €1.69bn from tackling tax evasion and illicit financial flows,says report
Onome Amuge
July 11, 2023
By Onome Amuge African countries have realised additional revenues totalling €1.69 billion following the tackling of tax evasion and illicit financial flows in the continent. This is according to the 2023 “Tax Transparency in Africa” progress report unveiled at the just concluded 13th meeting of the Africa Initiative in Cape Town, South Africa. The report […]
FIRS extends deadline for submission of CIT returns to August 31
Onome AmugeJuly 10, 2023
By Onome Amuge. The Federal Inland Revenue Service (FIRS) has extended the deadline for the submission of company income tax (CIT) returns for 2023 year of assessment (YOA) till August 31, 2023,for companies that could not meet up the June 30 deadline initially fixed by the tax authority. The extension is contained in a statement […]
NSIA joins global investors to access $500m Africa50 infrastructure fund
Isaac JayeolaJuly 10, 2023
The Nigerian Sovereign Investment Authority (NSIA), manager of Nigeria’s wealth fund, has partnered with other prominent African and global institutional investors in signing to the new $500 million Africa50 Infrastructure Acceleration Fund. The fund is expected to catalyse further investment flows to the development of critical infrastructure across the African continent, including energy, transportation, telecommunications, […]
FX unification positive step to economic stability, says Deloitte
Onome AmugeJune 27, 2023
By Onome Amuge The unification of the foreign exchange rate by the Central Bank of Nigeria (CBN) has been described as positive news for Nigerians and investors alike as Africa’s largest economy finally joins the league of countries with a flexible exchange rate, allowing market forces of demand and supply to determine the price of […]
Tall order for Tinubu hitting 6% GDP target, says KPMG
Onome AmugeJune 12, 2023
By Onome Amuge President Bola Tinubu, in his May 29 inauguration speech, set a target to raise Nigeria’s gross domestic product (GDP) growth rate to six percent on average in the next four years through budgetary reforms aimed at stimulating the real sector of the economy. But in a recent flashnote titled, […]
Tinubu to streamline taxes amid Nigeria’s illegal taxation menace
Onome AmugeJune 5, 2023
By Onome Amuge Taxes are considered compulsory levies paid by individuals and businesses to the government with the specific purpose of generating revenue for government expenditure. In other words, it can be defined as a levy imposed by the federal government and subnationals on the income profit of an individual, partnership and corporate organisation. The […]
IMG grows assets to N6.78bn, proposes dividend
Business a.m.May 23, 2023
By Business A.M. Industrial and Medical Gases (IMG) Nigeria plc, has grown its total assets to N6.78 billion as at the year ended December, 2022, an increase of 21 percent, compared with N5.60 billion posted in 2021. The profit before tax of the frontline manufacturer of industrial and medical gases in Nigeria also grew […]
Adeosun, CIS president, explains MoU with Lagos Business School
Business a.m.May 23, 2023
By Business A.M. The Chartered Institute of Stockbrokers (CIS) through its training arm, CIS Academy, has executed a Memorandum of Understanding (MOU) with the Lagos Business School (LBS) for sustainable capacity building and development training. The first series, which was held at LBS recently, and focused on a range of issues about “Board, Leadership, Regulation, and Compliance Issues […]
Opportunik to launch licensed African, diasporan focused investment fund
Cynthia EzekweApril 18, 2023
By Cynthia Ezekwe Opportunik Global Fund (OGF), a private wealth fund giving Africans and diasporans access to global investments, has announced that it will launch its licensed fund in May 2023. The company, in a statement, disclosed that the licensed fund is administered by Accuvise Administrators Limited, a registered fund administrator based in Mauritius, while […]
Old Mutual launches radio programme to promote financial literacy
Cynthia EzekweApril 13, 2023
By Cynthia Ezekwe Old Mutual Nigeria, a subsidiary of Africa’s financial services group, Old Mutual Limited (OML), has launched a radio programme entitled ‘The Money Beats Show,’ to promote financial education and adoption of insurance products for Nigerians. The Money Beats show intends to upskill Nigerians to be financially smart and savvy risk managers by […]