Archives for Business
56m Nigerians now registered for NIN – NIMC
Aziz Aliyu, the director-general of the National Identity Management Commission (NIMC), says the agency has so far registered 56 million Nigerians with their national identity number (NIN). Aliyu stated this…
VAT remittances into federation account increased 108% to N496.39bn in Q1 2021
Elias Mbam, chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), says value-added tax (VAT) contributed billion to the federation account in the first quarter of 2021. The remittance,…
CBN extends payment of N5 bonus for every $1 diaspora remittances indefinitely
The Central Bank of Nigeria (CBN) has announced the continuation of its “Naira 4 Dollar Scheme” — an incentive for senders and recipients of international money transfers — until further…
FIRS threatens deduction of taxes from defaulters’ bank accounts
The Federal Inland Revenue Service (FIRS) has threatened to commence deduction of taxes directly from the bank accounts of defaulters. The agency issued the warning in a statement signed by…
Senate approves N7.6trn revenue target for FIRS
The senate on Wednesday approved an upward review of the revenue target for the Federal Inland Revenue Service (FIRS) from trillion in 2020 to trillion in 2021. Advertisement The upper…
CBN queries First Bank over replacement of MD
The Central Bank of Nigeria (CBN) has queried the board of First Bank of Nigeria Limited over the removal of Sola Adeduntan, the bank’s managing director/chief executive officer, without due…
Twitter snubs Nigeria, opens first African office in Ghana
Twitter has confirmed it would be opening its first African offices in Ghana, the first of its kind in Africa, snubbing Nigeria which has a sizable chunk of the continent’s…
Cement from our factories sells between N2,450 and N2,510 per bag, VAT inclusive – Dangote
The management of Dangote Cement Plc has clarified that the price of a bag of cement from its factories and plants across Nigeria (as at 12th April, 2021) is N2,450…
CBN Sensitizes Nigerians on Products, Policies
The Central Bank of Nigeria (CBN) on Thursday took its awareness campaign on its products and interventions to Sokoto and Kebbi State. Speaking at the fair with the theme: Promoting…
SEC warns Nigerian fintechs against trading foreign stocks
Nigeria’s Securities and Exchange Commission (SEC) has warned unregistered investment-tech platforms to desist from offering foreign securities to Nigerians. SEC in a statement on Thursday said that only registered exchanges…