Nigeria’s financial inclusion reaches 79% — EFInA
By Matthew Johnson The Enhancing Financial Inclusion and Advancement (EFInA) has released its ninth Access to Financial Services in Nigeria (A2F) Survey, showing that 79% of Nigerian adults use a financial product or service. Formal inclusion reached 73%, exceeding the 70% target under the National Financial Inclusion Strategy. EFInA’s Board Chair, Dr Agnes Olatokunbo Martins, […]
Excisable goods: MAN cautions FG on introduction of tax stamp
By Yinka Kolawole The Manufacturers Association of Nigeria (MAN) has cautioned the federal government against the possible introduction of tax stamp system for excisable goods in Nigeria, warning of the risks of heavy compliance costs, increased operational bottlenecks, with limited incremental revenue. In a statement yesterday, Director General of MAN, Segun Ajayi-Kadir, said while manufacturers […]
14 banks fully met new capital requirements – CBN
•As CBN reduces interest rate to 27% •External reserve hit $43bn •NECA demands reforms to ease cost of living crisis •CBN’s easing of credit conditions a welcome, timely intervention – CPPE By Emma Ujah, Abuja Bureau Chief, Peter Egwuatu, Victor Ahiuma-Young & Yinka Kolawole ABUJA—Governor of the Central Bank of Nigeria, CBN, Yemi Cardoso, said yesterday […]
FIRS defends FG’s borrowing framework
By Johnbosco Agbakwuru THE Federal Inland Revenue Service, FIRS, yesterday defended the federal government’s borrowing plan, insisting that debt remained a legitimate component of every national budget. It also announcing that Personal Income Tax, PIT, and Company Income Tax, CIT, reforms would take effect from January. FIRS equally said federal revenue collection surged to N3.64 trillion […]
Investors lose N326bn on NGX
The equities market closed on a negative note on Tuesday, as market capitalisation dropped by N326 billion, or 0.4 percent.
Apapa Customs targets 200 containers hourly scan to facilitate trade, cargo clearance
By Godwin Oritse Comptroller Oluwadare Oshoba, Customs Area Controller of the Apapa Port Command, has called on port users and stakeholders to prepare for a more seamless trade process as the Nigerian Customs Service advances its modernisation project with the commencement of fixed scanner installations. With the installation of fixed scanners now underway at Apapa Port, […]
