NIRSAL Micro Finance Bank (NMFB) has debunked claims that it denied loans to 100,000 applicants from Anambra State under the Agribusiness/Small and Medium Enterprise Investment Scheme (AGSMEIS) of the Central Bank of Nigeria (CBN). To save the scheme from abuse, NMFB has barred Entrepreneurial Development Institutions (EDIs), from charging applicants […]

Twitter, Facebook and other social media platforms will be taxed by the Federal Inland Revenue Service (FIRS) in 2022, as tax agency set up unit. According to the executive chairman of FIRS, Mohammed Nami, the tech giants have been included in the country’s tax bracket, adding that it’s new international […]

The Federal Inland Revenue Service (FIRS) yesterday vowed to appeal the ruling that voided its jurisdiction on VAT collection as #1trillion is generated from Value Added Tax (VAT) in six months. The Federal High Court sitting in Port Harcourt on Monday, declared that Rivers, not the FIRS, should collect VAT, and […]

  Barely two years after the resumption of Value Added Tax (VAT) to the Nigerian stock market, investors have returned about N30billion into government coffers. The amount include the 10 per cent withholding taxes remitted to the government, despite market operators groaning under the weight of double taxation. The Federal […]

  In a curious twist of fate last week, there was a breather for the falling foreign exchange reserves for Nigeria. The figures gained an average of $76.5billion in seven days. The gross component gained $83.3 million between July 12 and July 19, 2021 to close at $33.17billion while the […]

Ahead of its Monetary Policy Committee (MPC) meeting holding today July 26 and tomorrow July 27, 2021, in Abuja, the Central Bank of Nigeria (CBN) has reiterated the resilience, safety and soundness of the nation’s Deposit Money Banks (DMBs) and other financial institutions under its supervision. Addressing journalists at the […]

The Central Bank on Nigeria (CBN) has restricted importation of sugar into Nigeria to three companies; BUA Sugar Refinery Ltd, Dangote Sugar Refinery Plc, and Golden Sugar Company. CBN stated the reason the three companies were the only ones allowed to import sugar into the country is because of their […]

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