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Tax(VAT)

Why tax deficit persists- SystemSpecs

Managing Director, SystemSpecs Limited, Mr. John Obaro, has blamed the lingering tax deficit and dwindling revenue recorded in most states of the federation on the lack of proper strategy and continuous dependence on manual revenue collection methods. This is coming on the heels of the inability of most of the states to pay staff salaries, running into several months. According to reports, some of the states are heavily indebted and are on the verge of going broke.

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Naira

NERFUND closure puts N7bn loans in jeopardy

NERFUNDs staff said that they were shocked at what they described as , “extreme reaction” of the Federal Ministry of Finance to their peaceful protest aimed at drawing government’s attention to their plight. Mal. Umar Mamu, the President of the NERFUND Staff Union told Vanguard that his members were surprised that the ministry shut the organisation due to the peaceful protests which he said did not pose any threat security.

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Business

How to manage your business to success

The first thing you need to do is look at the systems you currently have in place. What is it that constantly frustrates you, or that you feel you are spending too much time on? Are you continually searching around looking for an email address? Or cannot tell at a glance if your project is on track? Make a list of where you feel the problems are – these are your time drains. This is where you need to make improvements in your systems so that they work for you and not against you.

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Naira-Dollar

Mixed feelings on Naira rate as market opens today

Mixed reactions have trailed CBN’s announcement on Wednesday of a flexible exchange rate in the foreign exchange market. While some foreign investors are keeping sealed lips, others are saying they will wait and see the level of the exchange rate depreciation before venturing into the Nigeria market. However, local investors are cautious in their reactions stating that the economy was held down by government control for too long.

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Using Monopoly as grass root financial literacy tool

To capture financial literacy from the grass root, Monopoly has been identified as a tool due to financial mistakes of so many in the past. Monopoly is an educative game especially when it comes to financial management and investment, demonstrating that an economy which rewards wealth creation is better than one in which monopolists work under few constraints.

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Tony Elumelu

Elumelu canvasses for listing of public entities

Chairman Heirs Holdings, Mr. Tony Elumelu, gave this advice at a two-day stakeholders’ forum on “Realising the full potentials of the Nigerian economy through proactive capital market legislation” held in Abuja. He lamented that “presently, the Nigerian public feel excluded from the Nigerian oil and gas sector as only a small percentage of the elite have so far managed to gain access through processes that are stringent and highly capital intensive.”

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CBN Governor, Mr Godwin Emefiele

Banks deposit N613bn with CBN as inter-bank lending declines

Banks deposited N613 billion idle funds with the Central Bank of Nigeria last week, indicating apathy for lending to each other in the interbank market. Vanguard investigation revealed that the amount of idle funds banks deposited with the CBN, through its Standing Deposit Facility (SDL) rose by 23 per cent last week from N498 billion the previous week to N613 billion last week.

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Entrepreneurship

How to overcome challenges, obstacles as an entrepreneur

Overcome Obstacles the day you make up your mind to start a business, that’s the day your name will be written in the ‘’book of world changers”. Being an entrepreneur isn’t as easy as some people think. If it was, we would have a high number of job opportunities. If you’re an entrepreneur or small business owner reading this content, congratulations! You’re indeed a blessing to the world. Without mincing words, here are 8 ways to overcome obstacles and limitations as an entrepreneur.

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File: Banks

Banks shut doors on BDCs, politically-exposed persons

Indications emerged weekend that banks have started to close the accounts of suspect Bureaux de Change (BDCs) and some politically exposed persons to avoid Economic and Financial Crime Commission’s (EFCC) raid on them. Top bankers said that in some of the banks, both registered and unregistered Bureaux de Change are facing the risk of having their accounts closed by banks.

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Fashola

Nigeria needs sustainable housing policy- Fashola

In a bid to effectively tackle Nigeria’s housing problems, the country requires a consistent, measurable and sustainable housing policy that must be led by government and subsequently driven by the private sector. Minister of Power, Works and Housing, Mr. Babatunde Fashola, stated this at the recently concluded 35th Annual General Meeting and Housing Symposium of Shelter Afrique held in Abuja.

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Fuel1

Fuel importation: Forex access remains huge challenge- Total

Total Nigeria Plc has stated that access to Foreign Exchange (forex) remains a huge challenge in its petroleum marketing business despite the removal of oil subsidy by the Federal Government. The company has also declared a N12.00 per share dividend, having paid an interim dividend of N2.00 per share, thus making it a total of N14.00 per share dividend declared for the financial year ended December 31, 2015.

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