Private school owners in Edo State staged a peaceful protest in Benin on Friday, voicing their concerns over what they described as an “alarming increase” in personal income taxes imposed by the state government. Operating under the Coalition of Associations of Private Schools (CAPS), the school proprietors gathered at the Ministry of Education, carrying placards […]

The Nigerian naira made a slight gain against the US dollar in the official foreign exchange market, closing the week at N1,626.00/$1 on Friday. This marks an improvement compared to Thursday’s rate of N1,630.50/$1, according to data from the Central Bank of Nigeria (CBN). The week ended on a relatively positive note after a period

Governor of Abia State, Dr. Alex Otti has said that the partnership his administration seeks with various manufacturers and investors is not for the government to be patronising the companies, but for them to add economic value to the state. Otti similarly assured that his government is always ready to open its doors for members

As the world pivots toward renewable energy, solar power has emerged as one of the most promising and accessible solutions—particularly for energy-rich countries like Nigeria. Despite the country’s vast solar potential and the growing demand for alternative energy sources, Nigeria’s local solar manufacturing industry remains underdeveloped. At the core of this issue is a significant

The Toyin Amuzu Foundation (TAF) has made a significant contribution to the economic development of Abeokuta South Local Government Area in Ogun State by empowering 100 women and youths with Point of Sales (POS) business opportunities and business name registrations with the Corporate Affairs Commission (CAC). Chief Toyin Amuzu, a former House of Representatives candidate

In a move aimed at alleviating the financial strain caused by the ongoing economic challenges, the Kwara State Government has granted a three-month tax holiday to workers across the state. This announcement was made by the Commissioner for Tertiary Education, Hajia Sa’adatu Modibbo-Kawu, during a courtesy visit by the Joint Committee of Colleges of Education

On Monday, the Naira dropped to N1,612 per dollar in the official foreign exchange (FX) market, marking its lowest value since December 4, 2024, when the exchange rate was N1,613.69 per dollar. The local currency depreciated by 2.89%, falling to N1,612.23/$ from N1,567.02/$ on April 4. Meanwhile, in the parallel market, the Naira depreciated by

In today’s global economy, the way companies are capitalised—whether through equity or debt—can have significant tax consequences. In Nigeria, the balance between debt and equity financing is closely monitored, particularly for multinational corporations. This article delves into the concept of thin capitalisation, the associated tax regulations, and the treatment of debt conversion programmes under Nigerian

I have been following closely, you have been following, and Nigerians, in general, have been paying attention. We’ve moved beyond just discussions and consultations. And now, here we are: the passage of the Tax Reform Bills by the House of Representatives, signaling a significant shift in Nigeria’s tax system. What comes to mind when you

Nigerian banks have collectively paid N205.49 billion ($132 million) in windfall taxes to the Federal Government, a move proposed by President Bola Tinubu to strengthen the nation’s financial reserves. Last year, Nigerian lawmakers approved a 70% tax on foreign-exchange gains earned by banks. This tax was set to take effect from the start of the