The Chairman of the Federal Inland Revenue Service, Tunde Fowler, has said that of the N9.3 trillion 2018 federal budget, FIRS intakes will account for N4 trillion. Fowler also said the service is on course to achieve its target of N5 trillion from taxes in the 2018 fiscal year. Disclosing this in an interview on …
FIRS Will Contribute Over N4t To 2018 Budget – Fowler Read More »
Executive Chairman of Federal Inland Revenue Service (FIRS), Mr Babatunde Fowler, has urged Nigerians to quickly regularise their tax payment before the tax amnesty period closes on Saturday, June 30, 2018. On July 1, 2017, the federal government opened a grace period for citizens to voluntarily regularise their tax payment without punishment. It called …
VAIDS: Avoid Last Minute Rush—FIRS Boss Begs Nigerians Read More »
Brief Introduction of the MSMEDF The CBN launched the MSME Development Fund on August 15, 2013 with a share capital of N220 billion. The Fund was established in recognition of the significant contributions of the Micro, Small and Medium Enterprises (MSME) sub-sector to the economy and the existing huge financing gap. Ten (10) percent of …
Micro, Small and Medium Enterprises Development Fund (MSMEDF) Read More »
CENTRAL BANK OF NIGERIA Financial Policy and Regulation Department Central Business District P.M.B. 0187 Garki, Abuja. June 6, 2018 CIRCULAR TO ALL BANKS ON THE REDESIGNED CRMS: NOTICE OF COMMENCEMENT OF CRMS COMPLIANCE STATUS CHECKS The CBN Circular Ref: FPR/DIR/GEN/CRM/06/012 (dated February 27 2017), on ‘Regulatory Guidelines for the Redesigned Credit Risk Management System for …
The Central Bank of Nigeria (CBN) said it will exchange N720 billion for 15 billion Chinese Renminbi (RMB) in three years under the $2.5 billion bilateral currency swap (BCS) with Peoples Bank of China (PBoC). The apex bank disclosed this in the guidelines for executing the BCS released yesterday, adding that it would conduct bi-weekly …
CBN issues guidelines for $2.5bn currency swap with China Read More »
The Nigerian Investment Promotion Commission (NIPC) was established to coordinate and promote investments in Nigeria. In this regard, the NIPC is inviting investors to submit a specially designed form to enable it update its database of investment opportunities in Nigeria, starting with the following sectors: agriculture and agro-processing, manufacturing, gas, solid minerals, power, ICT, and …
NIPC invites investors to submit their business profiles for investment opportunities Read More »
Grant Thornton, the fifth largest organization of accounting firms in Africa, with representation in 24 countries on the continent, has concluded this year’s regional meeting for their clients in Nigeria. Mr. Peter Orizu, Executive Manager, Grant Thornton, said the event has enabled clients in Nigeria to meet and interact with some global leaders of Grant …
The Minister of Finance , Mrs Kemi Adeosun has called on tax invaders or those who have not declared their income or pay taxes accordingly to take advantage of the Voluntary Assets and Income Declaration Scheme (VAIDS) or face prosecution at its expiration on 31 March, 2018. She stated this during the Stakeholder Interactive Session …
We’ll Disgrace Tax Evaders After March 31 – Adeosun Read More »
Corporations and businesses may see their taxes increase by 0.5 percent if assent is given to the Competition and Consumer Protection Bill submitted by the National Assembly to the presidency. business a.m gathered from the Nigeria Employers Consultative Association (NECA) that there is an inclusion of a tax provision of 0.5 percent on companies to …
Corporate taxes to increase by 0.5% as competition bill goes for assent Read More »
Nigeria’s tax to GDP ratio at six percent is definitely very low when compared to its peers. According to available statistics, Ghana, the nation’s West African neighbour’s ratio at 15 percent cast a pall on Nigeria as the dominant economy in the sub-region. Again, South Africa’s at 24 percent also puts doubts on Nigeria being …
Nigeria’s tax drive and burden of responsibility and accountability Read More »
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