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Iyabo Ojo to shut down Lekki business as LIRS slams her with N38M tax
The actress has revealed on social media that she has just been slammed with N38m tax and she doesn't even know where to start from. According to her, she is still struggling with her business and get little or no profit from it.…
FIRS orders banks to ‘sweep accounts’ of tax defaulters into federation account
High-profile tax defaulters got a 30-day window to regularise their tax status with the Federal Inland Revenue Service (FIRS), failing which they risk forfeiting the tax equivalent…
FIRS makes N97.7b from tax defaulters
The Federal Inland Revenue Service (FIRS), has raked in N97.7 billion from tax defaulters since it directed banks to put a lien on their accounts, its Executive Chairman, Mr…
Nigerian Companies will soon start contributing to the Police Trust Fund
Companies operating within the shores of Nigeria will soon have an extra cost to worry about, no thanks to the Nigerian Police Trust Fund Act which President…
Nigeria gives condition to reopen borders with neighbours
Hameed Ali, the Comptroller General, Nigeria Customs Service (NCS), says Nigeria’s borders will remain closed until the country and its neighbours agree on existing ECOWAS protocol on movement.Mr Ali stated this on…
How Federal Government plans to increase VAT to 7.2% affects you
In a bid to increase government revenues, the Federal Executive Council has approved plans to increase Value Added Tax (VAT) from 5% to 7.2%. This represents a 44% increase…
NLNG selects Saipem, Daewoo, Chiyoda to build $7 billion Train-7
The Nigerian Liquefied Natural Gas (NLNG) Limited has selected a consortia comprising the Italian Saipem, South Korean Daewoo Engineering, and Japanese Chiyoda to build its $7 billion…
These billionaires are set to cash out as banks pay interim 2019 dividends
If there is one thing that equity investors love to hear the most, it is the word “dividend”. For them, dividend connotes the fruit of their labour and payment for their…
After CBN forex ban, Dano turns to Kaduna farmers for milk supply
Arla Foods, makers of Dano Milk, has signed a memorandum of understanding with the Kaduna state government for the supply of raw milk, TheCable can report. The agreement will see…
This billionaire’s yacht is up for sale for $326 Million
Billionaires are often known for their lavish purchases which are beyond the reach of the common man, varying from islands to crazy trips and opulent modes of transportation. When it…
Russia’s Massive Gold Stash Is Now Worth More Than $100 Billion
Russia’s long-running bet on gold is looking better every month.The country quadrupled gold reserves in the past decade as it diversified away from U.S. assets, a move that has paid off recently as haven demand sent…
Top five banks post N417b profit in six months
Nigeria’s five topmost banks recorded a total profit of N416.55 billion in the first half of this year as a result of improved technology and an enhanced efficiency The average…
Abiodun gives free land to 2,000 farmers
Governor Dapo Abiodun has flagged off the Ogun State Anchor Borrowers’ Scheme, signalling the commencement of an agricultural revolution in the state. Speaking at the June 12 Cultural…
How US court freed NNPC from $2.7billion arbitration award
The NNPC has provided details of how United States Southern District Court of New York discharged it of liability to a $2.7 billion arbitration claim by ESSO Exploration and Production…
Jack Ma steps down from China’s Alibaba
Jack Ma, one of China’s richest men, will step down next week as chairman of Alibaba, but the start-up he built into an online retail behemoth is expected to keep thriving into a new era…
AMCON debts: How debtors used distressed firms to move N5trn loans abroad
PRELIMINARY investigation by a presidential panel put in place to recover the N5 trillion owed Nigerian banks by 20 influential citizens has reportedly revealed that most of the loans were being allegedly shipped…
Nigeria, S’Africa Agreement Forbids Nationalisation of Assets, Investments
Nigeria stands to incur a huge cost if it decides to nationalise South African businesses in Nigeria in retaliation against xenophobic attacks on its citizens living in South Africa. This is because there is a clause…
N2trn Investments Flow Into Nigeria In 3 Months
The flow of funds into Nigeria was down in the second quarter of the year as the total value of capital importation into Nigeria stood at $5.82 billion, equivalent to N2 trillion, in the second quarter of 2019, a…
P&ID $9.6 bn Debt: The Obasanjo, Military Connections
DANJUMA’S STAKES IN THE COMPANY REVEALED As the federal government moves to explore means to escape payment of the controversial $9.6 bn P&1D judgment debt, feelers emerging from…
LUCKY SAVE! Exxon Mobil, Shell lose $1.8bn suit against Nigeria in US
A court in the United States has declined to start an arbitration suit that could cost the Nigerian government at least $1.8 billion. In a 50-paged judgement document, William Pauley,…
Federal government to rake in N16 billion from automated train ticketing service
The Federal Government will rake in N16 billion in the next 10 years from an estimated rise in the sales of train service through automated ticketing platform, the…
Xenophobia: Value of MTN’s shares down by N30.5bn on NSE
The market capitalisation of shares belonging to MTN Nigeria on the Nigerian Stock Exchange dropped by N30.5 billion at the end of the trading on Wednesday. MTN’s shares, which opened…
Are DisCos technically bankrupt?
The electricity distribution companies (DisCos) are in need of funds, such that they cannot procure equipment let alone expand their networks to take loads and give Nigerians regular electricity.…
N205m lost to hoodlums as shop owners count losses
SHOP owners at the Novare Shopping Mall, Sangotedo, PEP Stores, Surulere in Lagos and MTN Office in Uyo, Akwa Ibom State, were counting their losses on Wednesday. It was in…