September revenues up 25% y-on-y at MMA Customs

October 9, 2019

By Samson Echenim  Revenue generation by the Murtala Mohammed Airport area command of the Nigeria Customs Service for September 2019 hit N4.99 billion, up from N3.97 billion generated in same month in 2018, showing an increase of 25 percent.  The command in a statement on Tuesday said it exceeded its monthly revenue target by ₦674. […]

FG initiates new measures to boost mining sector revenue

October 8, 2019

By Tola Akinmutimi   The federal government on Tuesday hinted that it had initiated some policy measures  to ensure that revenue leakages from the nation’s mining sector were plugged and also make the industry more investment-friendly. Olamilekan Adegbite, the minister for mines and steel development, gave this hint  during a roundtable session at the ongoing […]

Checklist review: Operators to bear liability, SEC says

October 8, 2019

The Securities and Exchange Commission has said issuing houses would bear the resulting liability of incomplete or deficient documentation under the checklist review system. SEC had on July 1 introduced the checklist review to improve market efficiency. It said the introduction of the checklist review process for the capital market would make the system more […]

FCMB appoints Olufemi Badeji executive director

Chris IkosaOctober 7, 2019

By Omobayo Azeez First City Monument Bank Group Plc (FCMB) has appointed Olufemi Badeji to the board as  eecutive directors in charge of corporate and investment banking. The appointment follows the approval by the Central Bank of Nigeria and it took effect from October 2, 2019, FCMB Group said in a corporate disclosure signed by […]

States’ revenue collection rises by 46% in 3yrs

October 4, 2019

Babatunde Fowler, chairman The Chairman, Joint Tax Board (JTB), has disclosed that revenue generation at the sub-national level rose from N800.02 billion to N1. 6 trillion, representing 46.11 percent between 2016 and 2018. Fowler made the disclosure yesterday in his welcome address at the North-Central zone flag-off of the New Tax Identification Number (TIN) Registration […]

Fowler: FIRS targets 45m taxpayers by December

October 3, 2019

Federal Inland Revenue Service (FIRS) says about 45 million Nigerians will be captured as taxpayers before December 2019. Babatunde  Fowler, chairman, Joint Tax Board (JTB), said this on Thursday in Ilorin at the flag-off of the new Tax Identification Number (TIN) registration system and consolidated national taxpayers’ database for North Central zone. “Over the last […]

Nigeria Customs collects about N5bn daily since border closure – Ali

October 3, 2019

Hameed Ali, the comptroller general of the Nigeria Customs Service, has said that the agency’s revenue has increased during the closure of Nigeria’s borders. He also said that the agency collects between N4.7 billion and N5.8 billion daily since the federal government closed the nation’s major borders. He made the revelation on Wednesday when he appeared […]

Trade War: World GDP growth to hit eight-year low in 2020

October 2, 2019

By Omobayo Azeez The outlook for the global economy has deteriorated significantly due to the escalation in the US-China trade war, Fitch Ratings says in its new Global Economic Outlook (GEO). Consequently, the firm forecast world growth next year to fall to the lowest rate since 2012. “There can be few precedents since the 1930s […]

U.S. wins $7.5bn sanctions against EU in WTO aircraft fight

October 2, 2019

The World Trade Organization gave President Donald Trump the go-ahead to impose tariffs on as much as $7.5 billion worth of European exports annually in retaliation for illegal government aid to Airbus SE. The award is the largest in WTO history — nearly twice as large as the previous record of $4.04 billion set in 2002. The ruling […]