Breaking! Court dismisses FIRS’ stay of execution application over VAT collection by Rivers State
Ben Eguzozie
September 6, 2021
The Federal Inland Revenue Service (FIRS) has lost its bid to secure a stay of execution in its application seeking to stop the Rivers State government from collecting Value Added Tax (VAT) in the state to which the oil-rich state got a Federal High Court judgement in August. A Federal High Court sitting in Port […]
Vietnam puts off VP Osinbajo’s visit over spiking Covid-19 Delta variant
Ben EguzozieSeptember 6, 2021
Visit may hold by year-end or early 2022 Nigeria set to push pending MoUs The Vietnamese government has put off the earlier planned official visit by the vice president, Yemi Osinbajo to the socialist republic’s capital, Hanoi. The visit was initially slated for 11th – 13th August. The Asian nation with a robust […]
Shell Nigeria assets: Analysts say due diligence rests with bidders
Ben EguzozieSeptember 6, 2021
But sale offers great value Only 20% of assets seen to be commercial It is up to bidders to do their due diligence in the run up to the fire sale of its 30 percent interest in 19 oil mining leases (OMLs) in Nigeria by Shell Petroleum Development Company (SPDC), although the sale […]
Analysts see broad consumer price pressure after gas VAT
Charles AbuedeSeptember 6, 2021
Analysts point to the attendant effect on consumers, economic benefits for producers 5kg of LPG now N2,600; 20MT truck now N8m at depot, says NALPGAM With reaction still trailing the hiking of the price of cooking gas following the reintroduction of value added tax (VAT) on imported liquefied petroleum gas (LPG), a universe of […]
High interest, port congestion, taxation, endangering Nigeria leather export
in Kano, IN LAGOS & JACOB AJAKAIYE, PHILLIP ISAKPASeptember 6, 2021
By PHILLIP ISAKPA, IN LAGOS & JACOB AJAKAIYE, IN KANO Nigeria’s leather export business is in serious danger of running into a sudden halt following threats to the industry by a combination of high interest rates, congestion at the ports, multiple taxation and inconsistencies in the implementation of policies that were designed to ramp […]
Nigeria SEC chief under lawmakers scrutiny over persistent deficit spending
Chris IkosaSeptember 3, 2021
The Security and Exchange Commission (SEC) has come under the scrutiny of the Nigerian Senate over its inability to generate revenue from operational activities. The senate raised the alarm that the commission was gradually becoming insolvent, stating that it may go bankrupt soon. That was the verdict of the upper chamber when Lamido Yuguda, […]
Awabah founder sees robust pension industry in micro sector expansion
Zainab IwayemiSeptember 3, 2021
Digital pension platform founder wants rural, informal sector push Tunji Andrews, co-founder of Awabah, a digital pension platform, has highlighted strategies to meet a robust pension industry in Nigeria, especially with regards to the micro pension which currently captures a paltry percentage of the pension scheme. In a monitored interview on the prospect […]
Nigeria SEC understudying crypto-based investments, says Yuguda
Charles AbuedeSeptember 2, 2021
New fintech division to examine crypto, other digital products The Securities and Exchange Commission (SEC) in Nigeria, which announced plans to develop a framework for the adoption of digital asset in the wake of the ban on cryptocurrency trading in Nigeria by the Central Bank of Nigeria (CBN), has set up a fintech […]
Breaking! Down, down goes Naira, depreciates to N530/$1 in open market
Charles AbuedeSeptember 2, 2021
BDCs now use customers to source FX from banks ord low of N530 per dollar on Thursday after reaching N528 to a dollar the previous day indicating a N2 decline day on day. The continued depreciation of the Naira in the parallel FX segment is attributed to sustained pressures on the local currency as […]
Mastercard, Agrolog join forces to boost Nigeria ginger production, create jobs
Zainab IwayemiSeptember 2, 2021
To empower 60,000 farmers Despite being ranked first in terms of percentage of total hectares under cultivation, Nigeria’s contribution to total global output of ginger is low when compared to other countries as a result of the country’s reliance on smallholder farmers’ old traditional production techniques. To this end, Mastercard Foundation, in […]