Leading human rights lawyer, Femi Falana, says the proposed value-added tax (VAT) increase by the federal government is in violation of the law if the national assembly has not passed a bill to that effect. Zainab Ahmed, minister of finance, had announced that the federal executive council (FEC) approved an increase in VAT from 5% […]
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The Central Bank of Nigeria (CBN) has introduced a new policy, thereby transaction fees will be paid on deposits and withdrawals above 500,000 Nigerian naira. This was disclosed the CBN Payments System Transaction Management Department Director, Sam Okojere. The policy has taken immediate effect on Wednesday 18th September, which it was announced. Okojere said “The […]
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A report by PremiumTimes has revealed how Alfa Belgore, a former Chief Justice of Nigeria, helped Process and Industrial Developments (P&ID), an Irish company, to win a $9.6 billion compensation against the Federal Government of Nigeria. Belgore, who acted as a legal consultant to P&ID, analysed Nigeria’s laws, “exploited their shortcomings” and cited case laws […]
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At the just concluded Forum organised by the International Committee of the Red Cross (ICRC), key speakers Tony O. Elumelu, Founder of the Tony Elumelu Foundation (TEF) and Peter Maurer, President of the International Committee of the Red Cross (ICRC) proffered entrepreneurship as the most sustainable solution to accelerating Africa’s transformation. During a one-on-one conversation […]
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The federal executive council (FEC) on Wednesday approved an increase in value added tax (VAT) rate from 5 percent to 7.2% percent Nigeria’s minister of finance, budget and national planning, Zainab Ahmed, disclosed this to state house correspondents at the end of the cabinet meeting. However, this is subject to an amendment of the VAT […]
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The Central Bank of Nigeria (CBN) has injected 210 million U.S. dollars into interbank segment of the Foreign Exchange Market following sales concluded on Tuesday. The bank’s Director, Corporate Communications Department, Mr Isaac Okorafor, made this known in a statement in Abuja on Tuesday. Okorafor explained that the figures released by the CBN indicated that […]
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The Federal Government received two trillion naira as revenue from January to June 2019, Director-General of the Budget Office, Mr Ben Akabueze, has said. Akabueze disclosed this at the Public Consultative Forum on the 2020 to 2022 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) in Abuja on Tuesday. He explained that within the […]
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NIGERIA – minister of information, Lai Mohammed, says attacks on South African businesses in Nigeria will hurt Nigerians more. He explained that Nigerians invest and work in those places. Since the latest reports of xenophobic attacks in South Africa broke, there have been attacks on South African businesses across the Nigeria. In a statement on […]
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The National Bureau of Statistics (NBS) has revealed that the country’s Gross Domestic Product (GDP) grew by 1.94 per cent (year-on-year) in real terms in the second quarter of 2019. The NBS stated this in its “Nigeria GDP Report for Second Quarter 2019” released on Tuesday in Abuja. It said that the figure shows an […]
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Africa’s leading financial institution, United Bank for Africa Plc, UBA has announced its audited half year financial results for the period ended June 2019, showing impressive growth across key performance indices as well as a significant contribution from its African subsidiaries. In spite of the increasingly unpredictable environment witnessed in some of its countries of […]
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