In the current Nigerian business environment, companies face the need to adopt effective strategies to maintain competitiveness, ensure growth, and enhance profitability. Business restructuring is one such strategy to achieve optimal performance. Inefficient business structures, coupled with external factors like poor infrastructure and adverse government policies, can pose significant challenges to companies. Additionally, regulatory requirements […]

During the life cycle of a business, decisions to acquire or divest business lines may be made to create synergies or improve financial performance. In the telecommunications industry in Nigeria, major companies engaged in significant asset transfers, selling off around 30,000 base transceiver stations tower assets in deals exceeding US$300 million in 2014/2015. Economic challenges,

The Nigerian tax authorities, led by the Federal Inland Revenue Service (FIRS) and State Internal Revenue Services, have been actively working to enhance tax collections and increase government revenue through various schemes and tax amnesty programs. Despite these efforts, the level of tax compliance in Nigeria remains relatively low. A recent report from the International

Intangible assets are crucial for businesses, serving as key differentiators that drive revenue, manage costs, or achieve both objectives. Businesses often make substantial investments in developing, enhancing, maintaining, and protecting unique and valuable intangibles to gain a competitive edge. For instance, technology companies invest in Research & Development (R&D) for breakthrough technologies, while consumer markets

Are you earning income through various streams or investments? Do you want to ensure the tax efficiency of your investments and facilitate a smooth wealth transfer to future generations? If so, strategically managing your investments through a well-structured and properly managed investment vehicle can be a solution. High-net-worth individuals (HNIs) often have diverse investments, including

Like individuals, businesses should undergo periodic health checks to ensure their survival. This is particularly crucial in the current economic landscape, where the Nigerian government is striving to generate substantial non-oil revenue. With a targeted non-oil revenue of ₦5.51 trillion in 2020, businesses need to proactively address tax compliance and potential risks. This becomes even

The internet has profoundly influenced various aspects of human life, creating a global business value chain that transcends borders and geographic locations. Studies have shown a positive correlation between internet access and the growth of a nation’s Gross Domestic Product (GDP), indicating that the internet has the potential to enhance business efficiency, market share growth,

For over a decade, public companies in various countries, including the United States, Canada, Brazil, and Turkey, have been mandated to implement Internal Control over Financial Reporting (ICFR), particularly as part of issuer audits. While some organizations may perceive ICFR requirements merely as regulatory obligations, they might overlook the opportunities to unlock hidden value and

Private trusts serve as effective tools for wealth succession, involving a fiduciary relationship among the trust creator (settlor), trustee, and beneficiaries. In addition, a protector is often appointed to oversee the trustee’s activities in the interest of the beneficiaries. Understanding the responsibilities of each party is crucial for the success of the trust arrangement, aligning

The global demand for energy is outpacing the existing capacity for energy generation, and concerns about a potential energy crisis have intensified due to the Russian invasion of Ukraine. The adoption of alternative energy solutions has become imperative to ensure energy security and meet the growing demand, particularly as economies recover from the impact of